Pendleton Oregon Real Estate
Pendleton's real estate values are among the lowest in Oregon, though they are still considered fairly expensive compared to properties nationwide. The rate of home price growth in Pendleton has been tracked over the past five years, according to data from the Oregon Department of Economic and Community Development.
Pendleton's last quarter's appreciation rate was 1.44%, annualized at $5.87, according to NeighborhoodScout data. Compared to Oregon, the data is slightly below the national average, but still above the federal average of 0.8%. Data from Neighborhood Scout shows Pendleton's recent annual appreciation rates were 1% in the first quarter of 2016, 1% in July and 2.5% in the second quarter.
The cumulative 10-year revaluation rate is 39.16%, which ranks in the top 40% nationwide, according to NeighborhoodScout data.
Most importantly, the average rate of revaluation for the city is only slightly above the national average of 3.2%.
Whether you are a home buyer or a property investor, the vacancy rate of apartments is one of the useful measures to consider. Single-family homes are the most common form of housing in Pendleton, accounting for more than half of all units in the city and nearly three-quarters of all housing supply. Other types of apartments that predominate in pendleton are houses that have been converted into apartments or other small apartment buildings. Unchecked, vacant Pendleton homes and apartments can weigh on the housing market, pushing prices to levels that can only be reached when the vacant homes are absorbed and occupied by the market.