Oregon

Section 01Executive Summary

Oregon enters mid 2026 with a cooling but still functional economy and housing market. Statewide labor market data from the United States Bureau of Labor Statistics show that Oregon unemployment rate was 5.2 percent in every month from January through June 2026 on a seasonally adjusted basis. Total nonfarm employment in June 2026 was a preliminary 1.9654 million jobs, which was 0.9 percent lower than in June 2025. Sector trends are mixed. As of June 2026, education and health services employment was 359.6 thousand jobs statewide, a 2.8 percent increase over the prior year, while manufacturing, trade and transportation, information, and professional and business services all recorded year over year job declines. Source: United States Bureau of Labor Statistics, Oregon Economy at a Glance, data extracted August 7 2026.

On the single family side, Redfin statewide housing data indicate that in May 2026 the median sale price across all home types in Oregon was 518,159 dollars, which represented a decline of 0.74 percent compared with May 2025. In the same month there were 20,045 homes for sale statewide, 0.09 percent more than a year earlier, and 26.3 percent of sales closed above list price, an increase of 0.5 percentage points year over year. These figures suggest a market that has come off its peak but remains competitive, with modest price softening rather than a broad correction. Source: Redfin, Oregon Housing Market, data.

By contrast, there is no accessible public numeric statewide data in this environment on multifamily rents, multifamily vacancy, or commercial real estate vacancy, rent, and capitalization rates for Oregon. The United States Department of Housing and Urban Development Fair Market Rent datasets for fiscal year 2026 clearly cover Oregon counties, but the specific rent values are embedded in spreadsheet files that cannot be read here. Similarly, detailed multifamily and commercial market statistics are held in proprietary databases such as those from CoStar, RealPage, and Yardi Matrix, which are not public.

For accredited investors, the implication is that Oregon presents a combination of stable demand drivers in health care and education, softening cyclical sectors, and a for sale housing market that is plateauing rather than appreciating. Multifamily and commercial strategies must be built on locally sourced data beyond what is available publicly in this environment, but the high level economic and single family indicators provide a useful frame for statewide risk and return.

Section 02Population and Migration

Population and migration are normally quantified using United States Census Bureau and American Community Survey data. In this environment, attempts to access current Census QuickFacts or other Oregon specific Census tables result in access denied responses from the Census website security system. Because of this technical barrier, no official public numeric figures for Oregon total population, its growth rate over the past decade, or its net migration flows can be extracted and presented here.

This means that the review cannot state how many people live in Oregon as of 2025 or 2026, cannot quantify how much the population has grown or shrunk since 2010 or 2020, and cannot provide age, household, or migration breakdowns. While those statistics exist, they are not accessible in this environment in a way that would allow them to be quoted with a named public source.

For investors, the absence of current numeric population and migration data in this document is a genuine gap. It does not mean Oregon lacks growth or that the state is shrinking. It simply means that this review cannot document those trends with figures. Any investment thesis that relies heavily on precise population or migration metrics for Oregon must therefore be supported by direct access to the latest Census and American Community Survey data outside this environment.

Section 03Jobs and Economic Anchors

The United States Bureau of Labor Statistics Oregon Economy at a Glance table provides a clear view of the statewide labor market through June 2026. On a seasonally adjusted basis, the Oregon civilian labor force was 2,218,100 people in January 2026 and a preliminary 2,204,100 people in June 2026, which is a small decline over the half year. Statewide employment fell from 2,102,000 in January 2026 to a preliminary 2,089,100 in June 2026. The number of unemployed Oregonians moved from 116,200 in January to a preliminary 114,900 in June 2026, and the unemployment rate remained at 5.2 percent in every month from January through June 2026.

Total nonfarm wage and salary employment shows a similar pattern of slight contraction. Oregon had 1,974,100 seasonally adjusted nonfarm jobs in January 2026 and a preliminary 1,965,400 jobs in June 2026. Compared with the same months a year earlier, total nonfarm employment was between 0.9 and 1.2 percent lower in each of those months, with a year over year decline of 0.9 percent in June 2026. That pattern points to an economy that is neither booming nor in deep recession, but clearly cooler than in prior years.

Sector level employment data from the same Bureau of Labor Statistics table show which industries anchor and which weigh on that overall picture. All of the following figures are statewide, in thousands of jobs, seasonally adjusted, as of June 2026. Trade, transportation, and utilities is one of the largest sectors at 350.3 thousand jobs, with employment 1.2 percent lower than in June 2025. Education and health services is similarly large at 359.6 thousand jobs and is one of the few sectors growing, with a 2.8 percent year over year increase. Professional and business services accounts for 248.8 thousand jobs, a decline of 2.4 percent from a year earlier. Manufacturing employs 171.9 thousand people, a decline of 4.2 percent year over year, while construction employs 113.3 thousand workers and is essentially flat, with an increase of 0.2 percent over the same period. Leisure and hospitality employs 204.7 thousand people, a decline of 1.5 percent year over year. Information, at 31.8 thousand jobs, is down 7.8 percent compared to June 2025, and financial activities, at 99.3 thousand jobs, is down 1.5 percent year over year. Government employs 312.8 thousand people, 1.3 percent fewer than a year earlier.

These figures highlight education and health services as a critical growth anchor for Oregon, providing consistent job gains even as cyclical sectors such as manufacturing, trade, professional services, and leisure and hospitality contract. For real estate investors, that means that demand for housing and outpatient medical, educational, and related space is likely to be more resilient near major hospitals, health systems, and universities than in areas that depend heavily on manufacturing or discretionary retail.

Section 04Income

State level income dynamics are summarized by the United States Bureau of Economic Analysis. In its personal income by state page dated June 25 2026, the Bureau of Economic Analysis states that personal income increased in forty nine states and the District of Columbia in the first quarter of 2026, with state level changes ranging from a 22.4 percent increase in North Dakota to a 23.9 percent decrease in Hawaii. Because only one state experienced a decrease and Hawaii is explicitly named as that state, Oregon is among the states where personal income increased in the first quarter of 2026. Source: United States Bureau of Economic Analysis, Personal Income by State.

The same Bureau of Economic Analysis page does not report Oregon specific percentage changes or per capita personal income in its summary text, and the detailed data tables where those numbers reside are not accessible in this environment. That means this review cannot quantify Oregon income level, its growth rate relative to other states, or its per capita income trend, even though those figures exist.

The key inference for investors, grounded in the Bureau of Economic Analysis statement, is that personal income in Oregon was higher in the first quarter of 2026 than in the prior quarter, which contributes some support to housing and consumer facing real estate demand. The magnitude of that support cannot be specified numerically here and must be drawn from the full Bureau of Economic Analysis tables outside this environment.

Section 05Housing and Multifamily

Oregon housing system spans owner occupied single family homes, multifamily rental properties, manufactured housing, and specialized housing such as student and senior living. The structure of the housing stock, meaning how many units are in single family versus multifamily buildings, how old the inventory is, and how much is owner occupied versus renter occupied, is documented in United States Census Bureau and American Community Survey housing tables. As noted earlier, those tables are not accessible in this environment because the Census site is blocking access, so no numeric breakdown of Oregon housing stock by structure type, age, or tenure can be presented here.

Oregon Housing and Community Services, the state housing finance agency, explains on its public welcome page that it provides resources for residents to reduce poverty and increase access to stable housing, and that its work spans prevention of homelessness, support for housing stability, financing of affordable housing, preservation of existing units, and encouragement of homeownership. This confirms the presence of state supported multifamily and affordable housing programs in Oregon but does not include counts or numeric statistics on the number of affordable multifamily units built or preserved, nor on the total rental stock.

In the absence of statewide public numeric multifamily data, the multifamily picture in this review must remain qualitative. It is reasonable, given the Bureau of Labor Statistics employment data, to infer that multifamily demand is strongest in metropolitan areas with concentrations of education and health services and near major employment corridors in trade and professional services. However, rents, unit counts, and absorption in those markets are tracked by proprietary data providers and are not visible in this environment in numeric form.

Section 06Rents

Rents are central to multifamily and single family rental underwriting, but there is no statewide public rent series for Oregon in this environment that is both current and accessible. The United States Department of Housing and Urban Development Fair Market Rent documentation for fiscal year 2026 explains that Fair Market Rents for all areas, including Oregon counties and metropolitan areas, are derived from 2023 American Community Survey data and updated using standard methodologies. However, the actual Fair Market Rent values for each Oregon county and bedroom size are contained exclusively in spreadsheet files that cannot be parsed by this environment.

Private data vendors such as RealPage, CoStar, Yardi Matrix, and Zillow maintain multifamily rent series for Oregon metropolitan areas, but these are proprietary and not published as open, machine readable public datasets. As a result, no numeric statewide or metro specific rent levels, rent growth rates, or rent distributions for Oregon can be reported here from public sources.

The unavoidable conclusion is that there is no official public numeric information on Oregon multifamily or rental housing rents accessible in this environment. Investors must base any rent assumptions for Oregon on data gathered directly from United States Department of Housing and Urban Development Fair Market Rent spreadsheets, proprietary rent series, and local leasing information, which are outside the scope of this document.

Section 07Vacancy

Vacancy is a critical determinant of cash flow and risk in both residential and commercial properties. At the statewide level, residential vacancy estimates for Oregon exist in Census and American Community Survey tables, and multifamily and commercial vacancy data are compiled by private firms. However, the Census housing tables are not accessible here because the Census site is blocking content, and proprietary multifamily and commercial vacancy datasets are not open public sources.

Therefore, no official public numeric information on statewide rental vacancy, multifamily vacancy, or commercial vacancy for Oregon is available in this environment. Without such data, this review cannot state a rental vacancy percentage for Oregon, nor can it quantify how vacancy differs between apartments and single family rentals or between office and industrial space.

For investors, this means that vacancy in Oregon must be treated as a local, property and submarket specific metric, informed by subscription based datasets and property level histories, rather than as a statewide statistic. This document can only acknowledge the importance of vacancy and the lack of accessible statewide numbers, without attempting to fill that gap with estimates.

Section 08Supply Pipeline

The supply pipeline, meaning the volume of new housing and commercial space under construction or authorized by permits, affects future rents, vacancy, and investment risk. In principle, statewide permit data for Oregon are available from the United States Census Bureau building permits survey. However, the same access restrictions that block other Census content in this environment also apply to permit tables, so no numeric counts of authorized residential units or commercial permits in Oregon can be extracted here.

Similarly, detailed counts of multifamily units under construction and square footage of office, industrial, and retail projects are maintained by proprietary data providers and local planning agencies rather than in a consolidated public dataset. In this environment, there is no accessible statewide numeric measure of Oregon current multifamily or commercial construction pipeline.

Given these limitations, the supply pipeline section can only note that Oregon construction employment was a preliminary 113,300 jobs in June 2026 on a seasonally adjusted statewide basis, an increase of 0.2 percent compared with June 2025, according to the United States Bureau of Labor Statistics. That small year over year increase in construction employment suggests that building activity is slightly above its level from a year earlier, but does not reveal how much of that activity is in multifamily, single family, or commercial projects, nor where in the state it is concentrated.

Section 09Single Family Homes

Single family and overall home sales conditions in Oregon can be quantified using Redfin statewide housing data, which are based on multiple listing service and public records. For May 2026, Redfin reports that the median sale price across all home types in Oregon was 518,159 dollars, which is 0.74 percent lower than the median sale price in May 2025. The same dataset shows that there were 20,045 homes for sale statewide in May 2026, which is 0.09 percent higher than in May 2025. Redfin further reports that 26.3 percent of homes sold in Oregon in May 2026 closed above their list price, an increase of 0.5 percentage points compared with May 2025. Source: Redfin, Oregon Housing Market, data.

These figures can be summarized as follows:

Taken together, these data indicate that Oregon for sale housing market in mid 2026 is roughly balanced to slightly soft on prices but remains competitive on bidding behavior. The fact that the median price is down slightly year over year while more than a quarter of sales still close above asking suggests that some segments and locations are cooling while others, likely in high demand metropolitan suburbs and amenity rich communities, continue to see multiple offers.

Redfin statewide statistics in the text captured here do not provide months of supply or median days on market, so this review cannot quantify those measures. Nonetheless, the stable number of homes for sale and the modest decline in prices imply that supply has grown enough from the tightest pandemic years to ease upward price pressure, but not enough to force sellers to cut aggressively. For single family rental investors, the statewide median of 518,159 dollars underscores that entry pricing in many Oregon markets is significantly above the United States median, which can compress rent yields unless rent levels are equally elevated. Investors seeking higher cash yields may need to focus on lower priced submarkets or value add strategies, while those prioritizing long term appreciation may focus on supply constrained areas that continue to show bidding intensity.

Section 10Commercial Real Estate and Retail Centers

Office, industrial, and retail real estate in Oregon are important components of the investment landscape, but there is no single public dataset that provides statewide numeric vacancy, rent, absorption, or capitalization rate figures by property type. Those metrics are compiled by proprietary data vendors such as CoStar and reported selectively in brokerage research, neither of which is accessible in this environment in numeric form.

The United States Bureau of Labor Statistics sector employment data offer an indirect view of demand drivers. In June 2026, Oregon trade, transportation, and utilities sector employed 350,300 people statewide on a seasonally adjusted basis, which was 1.2 percent fewer jobs than in June 2025. This sector underpins demand for industrial and logistics space and for a significant portion of brick and mortar retail. Professional and business services employed 248,800 people in June 2026, 2.4 percent fewer than a year earlier, which implies some softening in office demand tied to corporate and professional tenants. Leisure and hospitality, at 204,700 jobs and down 1.5 percent year over year, is a key driver for hotels and food and beverage oriented retail. Information employment, at 31,800 jobs and down 7.8 percent from June 2025, suggests pressure on technology and media tenants that often occupy high amenity office space.

Because there are no accessible public vacancy or rent series for Oregon commercial real estate markets in this environment, this review cannot state current office vacancy in Portland, industrial rent levels in the Willamette Valley, or capitalization rate ranges for grocery anchored centers in secondary cities. The lack of such data is an explicit limitation. However, the employment trends suggest that industrial and logistics assets tied to trade and transportation have a large tenant base but are not currently in a strong growth phase, that office demand is likely under pressure from both cyclical and structural forces, and that retail tied to essentials and services remains dependent on the health of the trade and hospitality sectors.

For investors, these patterns point toward greater relative resilience in well located industrial and necessity based retail and more cautious conditions in commodity office and discretionary retail, with asset and location specific analysis required.

Section 11Transactions and Capital Markets

Transaction volumes, prices, and capitalization rates for Oregon real estate are primarily recorded in county property records and synthesized by proprietary data providers and brokerage houses. There is no statewide, open public dataset that aggregates all commercial and multifamily sales in Oregon with sale prices, capitalization rates, and buyer types. In this environment, no such statewide transaction compilation is accessible.

As a result, there is no official public numeric information here on how many multifamily or commercial properties traded in Oregon in 2025 or early 2026, what the average capitalization rates were by asset class, or how transaction volumes and pricing compared to earlier years. Any detailed capital markets analysis for Oregon must therefore rely on data sources that are beyond the scope of this document.

The most that can be said from the public macro data is that statewide nonfarm employment has fallen modestly year over year and that the for sale housing market has plateaued in price terms, both of which are consistent with a slower but not frozen transaction environment. The absence of numeric transaction data in this review is a constraint, not evidence of illiquidity or stress.

Section 12Taxes

Property taxation affects the net operating income and value of Oregon real estate. The Oregon Department of Revenue property tax welcome page explains that the Department of Revenue is not the custodian of most property tax records and that property taxes are set by and paid to the county assessor. It also notes that property assessment and taxation, property tax deferral for disabled or senior homeowners, centrally assessed companies, state appraised industrial property, forestland programs, timber harvest taxes, and exemption programs are among the property tax programs administered in the state.

However, the same Department of Revenue page does not present statewide numeric property tax rates, effective tax rates, or median property tax burdens for Oregon. The Tax Foundation county level property tax table for 2024, which compiles median housing values, median property taxes paid, and effective property tax rates based on American Community Survey data, is accessible only partially in this environment and shows data for some states but not for Oregon counties. Consequently, this review cannot state an effective property tax rate or median property tax payment for Oregon or any of its counties.

For accredited investors, the lack of statewide numeric tax data in this document means that property tax expense must be assessed using specific county assessor and tax collector information for the assets under consideration. Statutorily, Oregon structures property tax authority among counties, cities, school districts, and special districts, but the numeric impacts on specific investments cannot be generalized here.

Section 13Insurance

Insurance, especially property insurance, is a material operating expense and risk factor in Oregon, given exposure to hazards such as wildfires, winter storms, and localized flooding. State level statistical reports on insurance premiums and losses for Oregon are typically published by the state Division of Financial Regulation. Attempts to access annual statistical reports for insurers through the Division of Financial Regulation website in this environment result in a page not found error, so no statewide numeric insurance data can be extracted and presented here.

Nationally, insurers and regulators have reported rising property insurance premiums in many regions because of increased weather related losses and higher replacement costs, but this review cannot quantify how those trends manifest specifically in Oregon in terms of average premiums, loss ratios, or coverage availability. Without official public numeric information accessible here, insurance in Oregon must be treated as a property and location specific underwriting item, quantified through direct quotes and engineering data rather than through statewide averages.

Section 14Landlord Tenant and Regulatory Environment

Oregon landlord tenant and housing regulatory environment is defined by state statutes and administrative rules and is further shaped by local ordinances in major cities. Public state housing agencies, including Oregon Housing and Community Services, reference landlord and tenant resources and note that agency programs span the continuum from homelessness prevention to homeownership. This indicates that tenant protections and assistance programs exist. However, in this environment there is no accessible official state summary that lays out the specific terms of Oregon landlord tenant laws, such as limits on rent increases or just cause eviction requirements, in a way that can be quoted with numeric thresholds or dates.

Because of that limitation, this review cannot provide a detailed or authoritative description of Oregon landlord tenant statutes, nor can it summarize any rent stabilization caps or notice periods in numeric terms. Investors need to be aware that Oregon has engaged in housing policy reforms in recent years, but the specifics of those policies must be derived from the current text of state statutes and agency guidance, which are beyond the scope of this document.

Section 15Infrastructure

Infrastructure, including transportation, utilities, and digital connectivity, supports real estate demand and operations in Oregon. State agencies and transportation departments publish maps and project lists, but this environment has not accessed those specific datasets, and there is no statewide numeric summary here of highway lane miles, transit ridership, or broadband coverage.

At a high level, Oregon economic analysis offices note that they produce quarterly economic and revenue forecasts, and such forecasts typically incorporate infrastructure investment assumptions. The Oregon Office of Economic Analysis describes its economic and revenue forecast as the basis for much of state budgeting and notes that it issues forecasts four times a year, but it does not present numeric infrastructure measures in the text captured here.

For real estate investors, the absence of specific infrastructure metrics in this review means that infrastructure must be evaluated at the metropolitan and local level using direct sources. This document can only highlight that infrastructure is a critical part of Oregon economic planning and that infrastructure investment decisions feed into the broader economic context.

Section 16Climate and Physical Risks

Oregon climate and physical risk profile matters for any long term real estate investment. Federal agencies such as the National Oceanic and Atmospheric Administration and the Federal Emergency Management Agency publish state specific climate summaries, hazard analyses, and flood maps. Attempts to access the Oregon state climate summary from the National Centers for Environmental Information in this environment result in page not found errors, and no Oregon specific flood map statistics are presented on the general Federal Emergency Management Agency flood maps page.

The Federal Emergency Management Agency general flood map guidance explains that any place with a 1 percent or higher annual chance of flooding is considered to have a high flood risk and that such areas have at least a one in four chance of flooding during a thirty year mortgage period. It also states that there is no such thing as a no risk zone, even outside mapped high risk areas. These definitions apply nationwide, including in Oregon, but the proportion of Oregon land or housing stock that falls into high risk flood zones cannot be quantified here.

Similarly, while Oregon is known to face wildfire, drought, and winter storm risks, this review cannot provide numeric measures of those hazards, such as average annual burned area, drought frequency, or snowfall and temperature normals, because the relevant public climate datasets are not accessible in this environment. For investors, this means that climate and physical risk analysis must be conducted using detailed hazard and mapping data accessed separately from the sources mentioned, with emphasis on property specific elevation, vegetation, floodplain location, and building resilience.

Section 17Opportunities

Even with limited statewide data, several opportunity themes emerge for Oregon. First, growth in the education and health services sector, with employment of 359,600 jobs in June 2026 and a 2.8 percent increase over June 2025, indicates a robust and expanding base of relatively stable employment. Multifamily and single family rentals located near major hospitals, clinics, and universities in Oregon metropolitan areas are likely to benefit from steady tenant demand tied to this sector, even as cyclical industries fluctuate. Source: United States Bureau of Labor Statistics, Oregon Economy at a Glance.

Second, the single family market modest price decline, with the statewide median sale price down only 0.74 percent year over year in May 2026 while more than a quarter of homes still sell above list price, suggests that some submarkets continue to experience strong buyer competition. Investors focused on long term appreciation may find opportunities in supply constrained areas where bidding intensity remains high, while those targeting yield can look for slightly softer markets where prices have adjusted more than rents.

Third, industrial and logistics properties supported by the 350,300 jobs in trade, transportation, and utilities statewide as of June 2026 can offer attractive risk adjusted returns where they serve regional distribution corridors and essential supply chains. Even though employment in that sector is 1.2 percent lower than a year earlier, its absolute scale makes it a key, if cyclical, demand driver for industrial space.

Fourth, the positive statewide personal income growth in the first quarter of 2026, confirmed by the United States Bureau of Economic Analysis, provides a macroeconomic tailwind to housing affordability and consumer demand compared with a scenario of income contraction.

Section 18Risks

The same data also highlight material risks. Total nonfarm employment in Oregon was 0.9 percent lower in June 2026 than a year earlier, and key private sectors such as manufacturing, trade and transportation, professional and business services, leisure and hospitality, and information are all smaller in job terms than they were in June 2025. Manufacturing employment declined 4.2 percent year over year, trade and transportation declined 1.2 percent, professional and business services declined 2.4 percent, leisure and hospitality declined 1.5 percent, and information declined 7.8 percent. These trends point to cyclical and potentially structural challenges that can impair tenant demand in certain property types, especially commodity office and discretionary retail.

The single family market slight price decline combined with essentially flat inventory suggests a plateau phase. If employment were to weaken further, this equilibrium could tip toward more pronounced price declines, especially in higher priced submarkets. In such a scenario, investors relying on near term resale gains could be exposed.

Data limitations are an underappreciated risk. The inability to access current Census and American Community Survey data for Oregon in this environment means that this review cannot document population growth, household formation, rent levels, vacancy, or multifamily supply in numeric terms. Investors who rely solely on the figures presented here without supplementing them with detailed local data could materially misjudge the balance of supply and demand in specific markets.

Physical and climate risks, especially flood, wildfire, and storm related hazards, are also significant but cannot be quantified in this document. Underestimating these risks can lead to unanticipated capital expenditures, insurance premium increases, and value impairments over a long holding period.

Finally, regulatory and tax risks are present. Oregon Department of Revenue and housing agencies outline various property tax and housing programs, but the specifics of assessment changes, exemption impacts, and landlord tenant regulations are not detailed here. Changes in property taxation or rental regulations could affect net operating income and property values in ways that are not visible from the macro data alone.

Section 19Investor Implications

For accredited investors, Oregon appears as a nuanced, mid cycle market where broad economic cooling and sectoral divergence interact with a for sale housing market that is neither booming nor collapsing. United States Bureau of Labor Statistics data show that education and health services is a clear growth pillar, while several cyclically sensitive sectors are contracting. Redfin statewide home price data show a modest year over year decline in median prices and essentially flat inventory, with ongoing bidding activity in a significant share of transactions.

Within this environment, income oriented strategies tied to stable employment nodes, particularly multifamily and single family rentals near hospitals, universities, and key service corridors, are likely to offer more resilience than speculative bets on rapid price appreciation. Industrial and logistics assets that serve durable regional supply chains remain attractive but should be evaluated carefully in light of flat or shrinking trade and transportation employment.

Because this review cannot provide multifamily rent levels, vacancy rates, commercial rent and vacancy data, or detailed property tax metrics, investors must treat its figures as a macro context rather than a complete underwriting toolkit. Submarket selection, asset quality, and sponsor capabilities will matter more than usual in Oregon, as data gaps make broad diversification within the state more challenging to execute without detailed local knowledge.

In a diversified portfolio, Oregon can function as a moderate growth, moderately cyclical allocation that balances stronger growth but more volatile markets. Position sizes should reflect the state exposure to manufacturing and trade cycles, its climate and insurance risks, and the current macroeconomic backdrop of slight employment contraction.

Section 20Conclusion

Oregon statewide real estate environment in mid 2026 is characterized by a labor market with steady 5.2 percent unemployment, slight declines in total nonfarm employment, and notable divergence between growing education and health services employment and shrinking cyclical sectors. The statewide housing market, as measured by Redfin, shows a median sale price of 518,159 dollars in May 2026, 0.74 percent lower than a year earlier, with 20,045 homes for sale and 26.3 percent of transactions closing above list price. These indicators point to a housing market that has cooled from its recent highs but remains competitively priced in many segments.

At the same time, crucial components of a full market view, including population and migration trends, multifamily rent levels, vacancy rates, multifamily and commercial supply, and detailed property tax and insurance costs, are not available in this environment as public numeric data. As a result, this review has focused on what can be documented from named public sources such as the United States Bureau of Labor Statistics, the United States Bureau of Economic Analysis, Redfin, Oregon Housing and Community Services, the Oregon Office of Economic Analysis, the Oregon Department of Revenue, the United States Department of Housing and Urban Development, and the Federal Emergency Management Agency, while explicitly acknowledging gaps.

For accredited investors, the message is that Oregon remains an investable market with clear strengths and weaknesses, but that rigorous, data driven underwriting requires additional sources beyond those reflected here. Education and health anchored demand, moderate single family prices, and a diversified if cooling economy create opportunities, while sectoral job declines, climate and insurance risks, and policy complexity create risks that must be managed consciously.

Sources

• United States Bureau of Labor Statistics, Oregon Economy at a Glance ,, https://www.bls.gov/eag/eag.or.htm
• Redfin, Oregon Housing Market: House Prices and Trends ,, https://www.redfin.com/state/Oregon/housing-market
• United States Bureau of Economic Analysis, Personal Income by State ,, https://www.bea.gov/data/income-saving/personal-income-by-state
• Oregon Housing and Community Services, Agency Overview ,, https://www.oregon.gov/OHCS/pages/index.aspx
• Oregon Department of Administrative Services, Office of Economic Analysis: Economic and Revenue Forecasts ,, https://www.oregon.gov/das/OEA/Pages/forecastecorev.aspx
• Oregon Department of Revenue, Property Tax Programs ,, https://www.oregon.gov/dor/programs/property/pages/default.aspx
• United States Department of Housing and Urban Development, Fair Market Rents ,, https://www.huduser.gov/portal/datasets/fmr.html
• Federal Emergency Management Agency, Flood Maps ,, https://www.fema.gov/flood-maps