State rental market analysis · OR
Oregon rental markets
83 tracked cities over 5,000 population, 80 ranked and summarized by their median Overall; 0 of 80 evaluable cities pass the modeled Buy & Hold screen. Every number traces to Census, Zillow and BLS. Compare state coverage and results →
Browse every Oregon ZIP Code area → · the full server-rendered index for this state.
Part of the Pacific Census division (West region).
The honest read
Oregon ranks #32 of 37 coverage-eligible states for rental investing, with a median Overall of 41.2/100 across its ranked cities, below the national median. 80 ranked cities roll up into this grade. Its strongest factor is income growth: 5.8%, 9th of 51.
The biggest drag is gross rental yield: 4.3%, 46th of 51. A state grade is the median of its ranked cities, a screen for where to look, not underwriting. Open any city below for its full shown-math breakdown, or run a specific deal through the cap rate and cash-flow calculators.
Where it ranks, factor by factor
Every value is the median across the 80 ranked cities in this state. The national rank compares all 51 states on that one factor; the engine already flips inverted factors (affordability, low unemployment) so a better rank always means a better market. Each factor sits in one of the model’s three categories (Cash Flow, Growth, or Stability); this is a representative summary, and the full thirteen-factor breakdown is on each city’s page. Full methodology.
| Factor | Category | State value | National rank |
|---|---|---|---|
| Gross rent yield | Cash Flow | 4.3% | #46 of 51 |
| Rent growth | Growth | 3.6% | #41 of 51 |
| Home value growth | Growth | 2.6% | #45 of 51 |
| Population growth | Growth | 0.5% | #27 of 51 |
| Job growth | Growth | 0.9% | #19 of 51 |
| Price-to-income | Cash Flow | 6.0× | #42 of 51 |
| Unemployment | Stability | 5.1% | #46 of 51 |
| Rental demand | Stability | 43% renters · 4.2% vacancy | two-part measure |
| Income growth | Growth | 5.8% | #9 of 51 |
Every city in Oregon, ranked
Led by Umatilla at 66/100. Click any column to re-sort; every city links to its full shown-math breakdown.
| OR rank | City | Grade | Cash Flow | Growth | Stability | Typical home value | Gross yield | National rank |
|---|---|---|---|---|---|---|---|---|
| 1 | Umatilla | 66 | B | B | C | $295,284 | 6.5% | #299 |
| 2 | Madras | 62 | C | A | B | $360,013 | 5.2% | #572 |
| 3 | Central Point | 60 | C | B | B | $418,391 | 5.8% | #681 |
| 4 med | Independence | 59 | C | B | C | $425,503 | 5.3% | #783 |
| 5 | Redmond | 57 | C | B | C | $510,854 | 4.9% | #974 |
| 6 | Veneta | 55 | C | C | C | $438,508 | 6.3% | #1319 |
| 7 | St. Helens | 54 | C | B | C | $422,381 | 4.7% | #1342 |
| 8 | Junction City | 54 | D | B | B | $482,801 | 4.7% | #1366 |
| 9 | Newberg | 54 | D | B | B | $525,119 | 4.8% | #1407 |
| 10 | Prineville | 53 | D | A | C | $430,226 | 4.7% | #1547 |
| 11 | Sandy | 52 | C | B | C | $520,435 | 4.8% | #1597 |
| 12 | Talent | 52 | C | C | B | $435,792 | 5.6% | #1627 |
| 13 | Sherwood | 51 | C | C | B | $623,223 | 5.0% | #1759 |
| 14 | Hermiston | 50 | C | C | C | $345,761 | 5.9% | #1998 |
| 15 | North Bend | 49 | C | C | C | $359,472 | 6.3% | #2064 |
| 16 | Albany | 48 | D | C | C | $434,335 | 4.8% | #2213 |
| 17 | Estacada | 48 | D | B | C | $537,367 | 4.6% | #2279 |
| 18 | Hillsboro | 47 | C | C | C | $512,474 | 4.6% | #2368 |
| 19 | Bend | 47 | D | A | C | $729,189 | 3.8% | #2383 |
| 20 | Woodburn | 47 | D | B | C | $424,089 | 4.9% | #2449 |
| 21 med | Cornelius | 47 | D | B | C | $476,026 | 4.2% | #2454 |
| 22 | Sweet Home | 46 | D | B | C | $349,781 | 5.3% | #2557 |
| 23 med | Sutherlin | 46 | C | C | C | $349,291 | 5.4% | #2594 |
| 24 | Coos Bay | 45 | C | D | B | $326,136 | 6.1% | #2686 |
| 25 | Creswell | 45 | D | C | C | $472,491 | 3.3% | #2691 |
| 26 | Scappoose | 45 | D | B | C | $481,388 | 3.9% | #2737 |
| 27 med | Winston | 45 | D | C | C | $312,257 | 4.8% | #2745 |
| 28 | Springfield | 45 | D | C | C | $416,581 | 4.9% | #2752 |
| 29 | Lebanon | 44 | D | B | C | $392,911 | 4.6% | #2835 |
| 30 | Dallas | 44 | D | B | C | $477,214 | 4.0% | #2878 |
| 31 | Warrenton | 44 | D | C | C | $502,192 | 4.1% | #2899 |
| 32 med | Ontario | 43 | D | C | B | $307,769 | 4.1% | #3015 |
| 33 | Hood River | 43 | D | C | C | $713,733 | 4.5% | #3034 |
| 34 | Medford | 43 | D | C | D | $408,210 | 4.9% | #3038 |
| 35 med | Florence | 43 | D | C | C | $445,940 | 4.2% | #3053 |
| 36 | Monmouth | 42 | F | B | C | $475,714 | 3.7% | #3107 |
| 37 | Grants Pass | 42 | D | C | D | $399,421 | 5.0% | #3122 |
| 38 | King City | 42 | D | C | C | $461,655 | 5.2% | #3129 |
| 39 | McMinnville | 42 | D | C | C | $479,385 | 4.2% | #3136 |
| 40 | Cottage Grove | 41 | D | C | C | $399,713 | 4.4% | #3231 |
| 41 | La Grande | 41 | D | C | C | $301,372 | 4.7% | #3258 |
| 42 | The Dalles | 41 | D | D | C | $392,008 | 5.3% | #3284 |
| 43 | Molalla | 40 | D | C | D | $492,267 | 4.3% | #3360 |
| 44 med | Baker City | 40 | D | C | C | $262,864 | 4.0% | #3361 |
| 45 | Canby | 40 | D | C | C | $592,233 | 4.0% | #3370 |
| 46 | Roseburg | 40 | D | C | C | $364,061 | 5.1% | #3395 |
| 47 | Keizer | 40 | D | C | C | $447,557 | 4.2% | #3439 |
| 48 med | Eagle Point | 39 | D | C | C | $473,243 | 3.8% | #3529 |
| 49 | Forest Grove | 39 | D | B | C | $519,764 | 4.0% | #3563 |
| 50 | Philomath | 39 | D | B | D | $526,289 | 4.6% | #3591 |
| 51 med | Sheridan | 38 | D | C | D | $398,522 | 4.5% | #3627 |
| 52 | Pendleton | 38 | C | C | D | $301,886 | 5.7% | #3641 |
| 53 | Beaverton | 38 | D | C | D | $523,970 | 4.3% | #3695 |
| 54 | Salem | 38 | D | B | D | $435,095 | 4.4% | #3697 |
| 55 | Fairview | 37 | D | C | C | $471,529 | 4.4% | #3717 |
| 56 med | Milton-Freewater | 37 | D | C | C | $312,255 | 4.4% | #3731 |
| 57 | Eugene | 37 | D | C | D | $475,563 | 4.6% | #3756 |
| 58 | Ashland | 37 | D | C | C | $550,674 | 4.7% | #3774 |
| 59 med | Tillamook | 37 | D | C | C | $466,497 | 5.0% | #3779 |
| 60 | West Linn | 36 | D | C | B | $775,545 | 3.8% | #3809 |
| 61 | Klamath Falls | 36 | D | C | D | $306,973 | 5.0% | #3826 |
| 62 | Tigard | 36 | D | B | D | $602,382 | 3.7% | #3841 |
| 63 | Silverton | 36 | F | C | C | $550,032 | 3.9% | #3840 |
| 64 | Happy Valley | 36 | D | C | C | $678,674 | 3.5% | #3863 |
| 65 | Gladstone | 36 | D | C | C | $512,432 | 4.1% | #3873 |
| 66 | Milwaukie | 35 | F | C | C | $517,998 | 4.1% | #3967 |
| 67 | Troutdale | 35 | D | D | C | $484,480 | 4.7% | #3971 |
| 68 | Newport | 34 | D | D | D | $446,670 | 5.3% | #3988 |
| 69 | Wilsonville | 34 | F | C | C | $623,949 | 3.5% | #4012 |
| 70 | Lincoln City | 34 | D | B | D | $492,880 | 4.8% | #4018 |
| 71 | Oregon City | 34 | D | C | D | $597,974 | 4.0% | #4042 |
| 72 | Tualatin | 33 | F | C | C | $631,967 | 3.6% | #4145 |
| 73 med | Stayton | 32 | F | B | D | $464,259 | 3.4% | #4169 |
| 74 | Seaside | 32 | F | C | B | $470,477 | 3.8% | #4181 |
| 75 | Gresham | 31 | D | C | D | $464,687 | 4.2% | #4258 |
| 76 | Lake Oswego | 30 | F | C | B | $884,631 | 3.0% | #4285 |
| 77 | Corvallis | 29 | F | B | C | $560,117 | 3.7% | #4349 |
| 78 | Astoria | 29 | F | C | C | $481,663 | 4.0% | #4355 |
| 79 med | Brookings | 27 | D | F | C | $480,071 | 3.8% | #4486 |
| 80 | Portland | 23 | F | D | D | $527,359 | 3.9% | #4594 |
Data as of: Zillow ZHVI/ZORI through the latest monthly release · Census ACS 5-yr 2020–2024 · Census PEP July 2025 · BLS LAUS county 2025 annual (11-month average). Generated 2026-10-06. Methodology & limitations · underwrite any specific deal with the free calculators.
Limited-data cities in Oregon
These 3 cities lack enough measured factors to rank, so they are excluded from the state grade; their pages show exactly what could be measured.
ZIP markets in Oregon
428 Census ZIP Codes (ZCTAs) in Oregon · 259 data-eligible for subscores. These are sub-city government areas ranked separately from the Oregon city table. The overall Rental Investor ZIP Score leaderboard leads; the two component subscores (affordability, rental-market context) follow as independent percentiles. ZIP ranks are shown within the ZIP universe only, never mixed with, and not directly comparable to, city ranks. Vintage: the Key metric column is Census ACS 2020–2024 (5-year), the same release the city table above uses; the geographies differ, so the same measure can still disagree between the two.
Best overall ZIP Codes in Oregon
Ranked by the overall Rental Investor ZIP Score. The # is each ZIP Code's canonical OR state rank; the smaller figure is its national rank. Separate from the Oregon city table and not directly comparable to it.
| OR rank | ZIP Code | Overallgrade · national | Key metric |
|---|---|---|---|
| #1 | 97701Bend | A 72#283 nat | 3.4%Survey yield |
| #2 | 97702Bend | A 71#376 nat | 3.4%Survey yield |
| #3 | 97756Redmond | A 71#389 nat | 4.0%Survey yield |
| #4 | 97351Independence | A 66#1,242 nat | 5.1%Survey yield |
| #5 | 97703Bend | A 65#1,684 nat | 2.3%Survey yield |
| #6 | 97124Hillsboro | A 65#1,748 nat | 4.3%Survey yield |
| #7 | 97322Albany | A 64#1,952 nat | 4.7%Survey yield |
| #8 | 97361Monmouth | A 64#1,993 nat | 3.0%Survey yield |
| #9 | 97071Woodburn | B 64#2,061 nat | 5.2%Survey yield |
| #10 | 97305Salem | B 63#2,310 nat | 4.7%Survey yield |
| #11 | 97003Aloha | B 63#2,464 nat | 5.0%Survey yield |
| #12 | 97132Newberg | B 62#2,539 nat | 3.9%Survey yield |
Top affordability ZIP Codes in Oregon
State-scoped leaders on the affordability subscore only (national rank shown is within that subscore’s data-eligible universe). Substantially an inverse housing-cost signal: a component of the overall score, not a predicted return.
| # | ZIP Code | Affordability | Key metric |
|---|---|---|---|
| 1 | 97466Powers | 76#1,933 nat | 6.6%Survey yield |
| 2 | 97431Dexter | 72#2,610 nat | 6.2%Survey yield |
| 3 | 97065Wasco | 68#3,343 nat | 6.3%Survey yield |
| 4 | 97020Donald | 68#3,505 nat | 5.6%Survey yield |
| 5 | 97823Lonerock | 67#3,617 nat | 8.2%Survey yield |
| 6 | 97348Halsey | 67#3,686 nat | 6.4%Survey yield |
| 7 | 97624Oregon Shores | 67#3,706 nat | 5.3%Survey yield |
| 8 | 97523Takilma | 65#4,222 nat | 5.0%Survey yield |
| 9 | 97867North Powder | 65#4,302 nat | 6.4%Survey yield |
| 10 | 97843Ione | 64#4,516 nat | 5.7%Survey yield |
| 11 | 97417Days Creek | 62#4,941 nat | 4.8%Survey yield |
| 12 | 97325Aumsville | 61#5,296 nat | 5.5%Survey yield |
Deepest rental-market ZIP Codes in Oregon
State-scoped leaders on the rental-market-context subscore only (national rank shown is within that subscore’s data-eligible universe). Rental depth/tightness: a separate component, never combined here with affordability.
| # | ZIP Code | Rental market | Key metric |
|---|---|---|---|
| 1 | 97005Beaverton | 81#187 nat | 4.0%Survey yield |
| 2 | 97322Albany | 78#421 nat | 4.7%Survey yield |
| 3 | 97401Eugene | 78#462 nat | 3.3%Survey yield |
| 4 | 97216Portland | 78#479 nat | 3.9%Survey yield |
| 5 | 97477Springfield | 78#491 nat | 4.0%Survey yield |
| 6 | 97543 | 77#529 nat | 1.9%Survey yield |
| 7 | 97110Cannon Beach | 77#548 nat | 1.7%Survey yield |
| 8 | 97361Monmouth | 77#573 nat | 3.0%Survey yield |
| 9 | 97362Mount Angel | 77#648 nat | 3.3%Survey yield |
| 10 | 97124Hillsboro | 77#662 nat | 4.3%Survey yield |
| 11 | 97138Seaside | 76#703 nat | 2.7%Survey yield |
| 12 | 97429Days Creek | 75#855 nat | 2.9%Survey yield |