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Forest Grove, OR—97116

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$520,000
0.6% YoY Growth
Household Income
$87,300
40.9% YoY Growth
Days on Market
89
36.0% Longer YoY
Home Price Forecast
-0.5%
Median Rent
$1,740
7.2% YoY Growth
1-Bed Rent
$1,320
29.6% YoY Growth
2-Bed Rent
$1,640
6.0% YoY Growth
3-Bed Rent
$2,350
9.2% YoY Growth
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Forest Grove, OR

As of Dec '25, the median home price in Forest Grove, OR is $520,000, with a year-over-year change of -0.6%. This indicates that home prices in Forest Grove, OR are flat. According to Zillow, the 1-year price projection is -0.5%, suggesting a relatively flat housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$520,000-0.6%
Single Family $523,000-0.8%
Condos N/AN/A

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed
  • Affordability
  • Rentals and Section 8
    • N/A
    N/A
    2 Bed
    		$387,000-0.3%
    3 Bed
    		$488,000-0.4%
    4 Bed
    		$583,000-1.2%
    5 Bed $673,998-1.2%
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    % of Housing Stock

    Studio
    2.9%
    1 Bedroom
    11.0%
    2 Bedrooms
    21.4%
    3 Bedrooms
    39.7%
    4 Bedrooms
    19.3%
    5+ Bedrooms
    5.6%

    Rental Trends — Forest Grove, OR

    As of July '25, Rentcast reports the average rent in Forest Grove, OR is $1,940, with a year-over-year rent change of 7.2%. Per bedroom, the median rent as of July '25 in Forest Grove, OR is studios: $1,550, 1-bedrooms: $1,400, 2-bedrooms: $1,590, 3-bedrooms: $2,270, 4-bedrooms: $2,820. The most common rental property sizes in Forest Grove, OR are 2-bedroom and 1-bedroom, accounting for 38.5% and 30.2% of the rental stock.

    TypeMedian RentAverage Rent
    Average Rent$1,740$1,940
    Studio Rent $1,550$1,550
    1 Bed Rent $1,320$1,400
    2 Bed Rent $1,640$1,590
    3 Bed Rent $2,350$2,270
    4 Bed Rent $3,000$2,820
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    % of Rental Stock

    Studio
    7.5%
    1 Bedroom
    30.2%
    2 Bedrooms
    38.5%
    3 Bedrooms
    19.1%
    4 Bedrooms
    2.0%
    5+ Bedrooms
    2.7%

    Property Listings — Forest Grove, OR

    As of Dec '25, Realtor.com reports that the median days on market for a home in Forest Grove, OR is 88. This is a increase of 40.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 25.0%, representing a small inventory and little supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$521,000-14.0%
    Listing Count
    		9926.0%
    Listings as % of Homes0.7%26.0%
    Days on Market
    		8936.0%
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    Demographics — Forest Grove, OR

    As of the latest ACS Survey released in 2023, Forest Grove, OR has a population of 29,600, which has increased by 10.6% over the past 5 years. Forest Grove, OR is a moderately popular place for families, as children make up 23.8% of the population. The area has a moderately educated workforce, with 32.5% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.0% reporting working from home.

    MetricLatest CensusYoY % Change
    Population
    		29,60010.6%
    % Under 18
    		23.8%0.8%
    % Seniors
    		15.2%3.4%
    % WFH
    		10.0%28.2%
    % w/ College Degree
    		32.5%28.5%
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    As of the latest ACS Survey released in 2023, Forest Grove, OR is a predominantly white area, with 64.4% of the population identifying as white. The white population has shrunk by 7.2% in the last 5 years. The second most common race or ethnicity in Forest Grove, OR is hispanic, making up 27.2% of the population. Foreign-born residents account for 11.7% of the population in Forest Grove, OR, and this percentage has increased by 7.3% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.

    Race and Ethnicity

    MetricLatest Census5-Year % Change
    % White
    		64.4%-7.2%
    % Black
    		2.3%283.3%
    % Hispanic
    		27.2%27.7%
    % Asian
    		2.0%-45.9%
    % Foreign Born
    		11.7%7.3%
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    Mortgage and Risk — Forest Grove, OR

    According to HUD data as of 2023, there were 513 mortgage originations in Forest Grove, OR, of which 83.0% of loans were conventional mortgages. The average loan-to-value was 55.0%, with 26.0% above 90% LTV (very high). This implies large mortgage risk in Forest Grove, OR. Investor activity is low, as 0.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.

    Mortgages

    MetricZip Code Average
    Total Loan Originations
    		513
    % Conventional Loans
    		83.0%
    % Government Loans
    		17.0%
    % Investor Loans
    		0.0%
    % Second Loans
    		1.0%
    % Cash Out Refinance
    		8.0%
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    Rentals and Section 8 — Forest Grove, OR

    As of 2024, the percent of homes in Forest Grove, OR under the Section 8 program is 8.9%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 2-bedroom and 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Forest Grove, OR, because HUD payments exceed market rent, while 4-bedroom units do not.

    Section 8 Market Size

    Total Units under HUD
    		265
    Total Units Section 8
    		265
    % Rentals under Section 8
    		8.9%
    % Occupied Section 8
    		90.6%

    Section 8 Opportunity

    Home SizeHUD PremiumMarket RentMax HUD Rent
    1 Bedroom$280$1,320$1,600
    2 Bedroom$190$1,640$1,830
    3 Bedroom$180$2,350$2,530
    4 Bedroom-$70$3,000$2,930

    Affordability — Forest Grove, OR

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio5.9
    Median Home Price$520,000
    Median Household Income$87,300

    Forest Grove, OR — ZIP Code Boundary Map

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    Nearby ZIP Codes

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    97106

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    Frequently Asked Questions