Oregon real estate prices have skyrocketed over the past decade. Home prices in Oregon have increased nearly 20% over the past year, with a typical home price of $509,539. Rents in mid-sized cities like Salem are up 18%. According to Beaverton real estate agents, this is mainly due to continued population growth and increased demand in metropolitan and suburban areas. New residents are drawn to Oregon’s natural beauty, from its extensive hiking trails to its rocky Pacific coast. Oregon is home to world-class technology and apparel companies such as Intel and Nike, and employees from around the world live and work here. Oregon’s five most populous cities were evaluated to find the best Oregon real estate market investment opportunities. The following indicators were considered:

• Economic stability
• Investment potential
• Average rental price

This guide to Oregon will help you find the best rental markets in the state and help you navigate the process of investing in rental properties for beginners. Real estate in Oregon is thriving and is a fantastic investment opportunity.  If you’re looking to invest in real estate, contact realtors in Oregon who can help you find the best real estate investment.

Salem

Salem’s steady population growth, rising property prices, and proximity to other emerging markets have made Salem one of the hottest and most promising cities for rental properties. Salem is one of Oregon’s fastest-growing real estate markets. It’s easy to see why. Salem, the state’s second-largest city, is less than an hour from Portland and Eugene, an hour from the beach, and about three hours from various ski resorts. Salem is located in the lush Willamette Valley with vineyards, orchards, and countryside within the city limits. Real estate in Salem sells relatively quickly, with sales on the market for just 33 days. In March 2022, the median home price in Salem was $442,295, up 20% from a year ago. Rents are also up in Salem, with the median rent averaging $1,449 in 2022, up $234 from a year ago. Salem’s continued development creates profitable investment opportunities, especially in single-family homes and rental apartments. Investors can benefit from rising family wealth before prices become too high.

Portland

When looking for one of the best places to invest on the West Coast, Portland may be the perfect place. Home prices are up 13.4% over the past year, but Portland remains one of the cheapest options to buy a home on the West Coast. Portland is the most populous city in Oregon and the sixth-largest city on the West Coast. The typical price of a home in Portland is currently $588,143. Compare that to the averages of Seattle ($958,027) and San Francisco ($1,608,937), and against these prices, Portland looks like a good place to invest in real estate. In addition, prices are expected to rise in this dynamic city, so there is a good chance that property values will continue to increase enormously. Rents will also continue to grow. The average rent for a two-bedroom apartment is $1,992, up 7% from a year ago. Thanks to the booming technology industry, outstanding innovations in urban planning, and the city’s growing diversity, more people will migrate to Portland in the long term. It’s easy to see why it’s the best city in America for biking, the best for vegetarian food, and home to more breweries than any other city in the world.

Hillsboro

Hillsboro’s tech boom attracts thousands of dedicated workers to the city each year, making it one of the best places to rent in Oregon. The technology industry includes Intel headquarters, which employs about 17,000 people and plans to hire more. Business travelers will appreciate the city’s historic appeal, with nine landmarks on the National Register of Historic Places. By March 2022, the median home price in Hillsborough had increased by 22% to $544,726. With prices rising rapidly, now is the time to buy. It will be a profitable investment. Hillsboro rents are now 5% above the national median. The median rent for a two-bedroom apartment was $2,075, up $375 from a year ago. Higher salaries in this technology industry provide a higher standard of living and a willingness to pay for closer proximity to the workplace. The town appreciates local food, beer, and a lively weekend farmers market.

Eugene

Eugene is a self-sufficient university town. In addition to the University of Oregon students, Eugene is a popular venue for sporting events such as the US Olympic Games at the famous Hayward Field. Visitors flock to these seasonal events from all over the country, making Eugene one of the best places to invest in real estate. The home price range is quite affordable compared to other cities on this list, with an average retail price of $471,830. House prices in the city have risen steadily over the past five years, reaching 20% growth last year. Rental prices show a similar trend, with affordable rents ($1,500 for a two-bedroom apartment) increasing by an average of $200 over the past year. In addition to sporting events, Eugene’s culture also developed an art and creative scene. The city’s Saturday market is one of the largest in the state, and the restaurants offer delicious menu items. One of the most scenic areas of the Oregon Coast is less than an hour away, and Crater Lake National Park, the state’s only national park, is three hours away.

Gresham

To the east of Portland is Gresham, an affluent suburb. What was once a working-class neighborhood has become a haven for Portlanders looking to move out of the city without losing access to the jobs and amenities of the surrounding areas. Gresham’s active growth is reflected in real estate values. Home prices rose nearly 16% last year to an average of $469,500. Rent for a two-bedroom apartment costs $1,645, which is 20% less than the national average, but last year prices increased by $267. Residents are attracted by the many open spaces and their community. The city has an impressive mixed-use public park with 40 miles of paved paths connecting Gresham with the surrounding metropolitan area. For avid skiers and hikers, Mount Hood, Oregon’s highest mountain, is only an hour away.

Next Steps to Investing in Oregon Rental Homes

Whether you live in Oregon or are planning to invest here, the first step is to contact a local real estate agent who can offer clear and effective strategies for finding properties with the most significant potential and financial value, especially if you are new to the world of investing in real estate.

Real estate agents are independent professionals who receive a commission for their work. They need to know all the intricacies of running a business and understand the real estate market. Before doing anything, carefully plan your needs, wants, and budget. If you act spontaneously, you can make serious mistakes that are difficult to correct. Since you are responsible for your own money, make a cost-benefit calculation. Clearly define the goals you want to achieve. This is essential for all beginners who want to invest in Oregon real estate and work successfully with a real estate agent. Six months can pass from the start of the business to the first contract. So be patient and work hard. Purposeful people consistently achieve great results. Create your financial budget. Find a suitable investment property and plan appropriately so that you can make a profit.

If you are just starting out in real estate investment, find an experienced mentor to share their knowledge and provide helpful guidance. This is the best way to find investment properties yourself. Carefully study all options. Thus, you will avoid serious problems with the purchased real estate in the future. Before purchasing your chosen real estate, objectively assess the financial risks and the degree of your responsibility. Investing in real estate has many pitfalls, so you must be thoughtful and responsible when buying. Remember that even a tiny mistake can cost you money.