Corvallis, OR—97333
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Corvallis, OR
As of Oct '25, the median home price in Corvallis, OR is $526,000, with a year-over-year change of 0.9%. This indicates that home prices in Corvallis, OR are flat. According to Zillow, the 1-year price projection is 0.7%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $526,000 | 1.0% |
| Single Family | $533,000 | 0.8% |
| Condos | $330,000 | 0.6% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $330,000 | -1.5% |
2 Bed | $418,000 | 0.7% |
3 Bed | $512,000 | 0.6% |
4 Bed | $627,000 | 1.0% |
| 5 Bed | $678,000 | 0.6% |
% of Housing Stock
Rental Trends — Corvallis, OR
As of July '25, Rentcast reports the average rent in Corvallis, OR is $2,010, with a year-over-year rent change of 1.0%. Per bedroom, the median rent as of July '25 in Corvallis, OR is studios: $1,400, 1-bedrooms: $1,430, 2-bedrooms: $1,660, 3-bedrooms: $2,470, 4-bedrooms: $2,970. The most common rental property sizes in Corvallis, OR are 2-bedroom and 3-bedroom, accounting for 41.3% and 23.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,700 | $2,010 |
| Studio Rent | $1,400 | $1,400 |
| 1 Bed Rent | $1,400 | $1,430 |
| 2 Bed Rent | $1,500 | $1,660 |
| 3 Bed Rent | $2,500 | $2,470 |
| 4 Bed Rent | $3,000 | $2,970 |
% of Rental Stock
Property Listings — Corvallis, OR
As of Oct '25, Realtor.com reports that the median days on market for a home in Corvallis, OR is 62. This is a increase of 25.0% 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 27.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $635,000 | 6.0% |
Listing Count | 52 | -1.0% |
| Listings as % of Homes | 0.3% | -1.0% |
Days on Market | 62 | 25.0% |
Demographics — Corvallis, OR
As of the latest ACS Survey released in 2023, Corvallis, OR has a population of 23,700, which has increased by 2.9% over the past 5 years. Corvallis, OR is a less popular place for families, as children make up 14.0% of the population. The area has a highly educated workforce, with 57.7% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 17.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 23,700 | 2.9% |
% Under 18 | 14.0% | -4.8% |
% Seniors | 16.0% | 17.6% |
% WFH | 17.6% | 183.9% |
% w/ College Degree | 57.7% | 5.1% |
As of the latest ACS Survey released in 2023, Corvallis, OR is a predominantly white area, with 77.9% of the population identifying as white. The white population has shrunk by 2.1% in the last 5 years. The second most common race or ethnicity in Corvallis, OR is hispanic, making up 9.1% of the population. Foreign-born residents account for 10.3% of the population in Corvallis, OR, and this percentage has decreased by 5.5% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 77.9% | -2.1% |
% Black | 0.9% | -10.0% |
% Hispanic | 9.1% | 37.9% |
% Asian | 6.8% | -20.9% |
% Foreign Born | 10.3% | -5.5% |
Mortgage and Risk — Corvallis, OR
According to HUD data as of 2023, there were 238 mortgage originations in Corvallis, OR, of which 88.0% of loans were conventional mortgages. The average loan-to-value was 55.0%, with 16.0% above 90% LTV (elevated). This implies medium mortgage risk in Corvallis, OR. Investor activity is low, as 2.0% of loans were by investors. 9.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 238 |
% Conventional Loans | 88.0% |
% Government Loans | 12.0% |
% Investor Loans | 2.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 9.0% |
Loan Activity
Rentals and Section 8 — Corvallis, OR
As of 2024, the percent of homes in Corvallis, OR under the Section 8 program is 5.5%. 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. 2-bedroom units appear to be good home sizes to consider for Section 8 housing in Corvallis, OR, because HUD payments exceed market rent, while 1-bedroom and 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 413 |
Total Units Section 8 | 378 |
% Rentals under Section 8 | 5.5% |
% Occupied Section 8 | 88.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$70 | $1,400 | $1,330 |
| 2 Bedroom | $210 | $1,500 | $1,710 |
| 3 Bedroom | -$110 | $2,500 | $2,390 |
| 4 Bedroom | -$410 | $3,000 | $2,590 |
Affordability — Corvallis, OR
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 7.6 |
| Median Home Price | $526,000 |
| Median Household Income | $64,600 |