Mill City, OR—97360
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Mill City, OR
As of Oct '25, the median home price in Mill City, OR is $355,000, with a year-over-year change of 0.4%. This indicates that home prices in Mill City, OR are flat. According to Zillow, the 1-year price projection is 0.6%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $355,000 | 0.4% |
| Single Family | $355,000 | 0.0% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $277,000 | 0.4% |
3 Bed | $383,000 | 1.1% |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Mill City, OR
As of July '25, Rentcast reports the average rent in Mill City, OR is $1,570, with a year-over-year rent change of 6.1%. Per bedroom, the median rent as of July '25 in Mill City, OR is 2-bedrooms: $1,000, 3-bedrooms: $1,760. The most common rental property sizes in Mill City, OR are 2-bedroom and 3-bedroom, accounting for 47.6% and 25.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,050 | $1,570 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $1,000 | $1,000 |
| 3 Bed Rent | $1,340 | $1,760 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Mill City, OR
As of Oct '25, Realtor.com reports that the median days on market for a home in Mill City, OR is 86. This is a increase of 22.0% 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 46.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $539,000 | 35.0% |
Listing Count | 13 | -24.0% |
| Listings as % of Homes | 0.8% | -24.0% |
Days on Market | 86 | 22.0% |
Demographics — Mill City, OR
As of the latest ACS Survey released in 2023, Mill City, OR has a population of 2,360, which has increased by 8.3% over the past 5 years. Mill City, OR is a popular place for families, as children make up 30.4% of the population. The area has a poorly educated workforce, with 11.4% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 2,360 | 8.3% |
% Under 18 | 30.4% | 33.3% |
% Seniors | 15.8% | -30.1% |
% WFH | 9.0% | 164.7% |
% w/ College Degree | 11.4% | 56.2% |
As of the latest ACS Survey released in 2023, Mill City, OR is a predominantly white area, with 81.1% of the population identifying as white. The white population has grown by 9.0% in the last 5 years. The second most common race or ethnicity in Mill City, OR is hispanic, making up 5.4% of the population. Foreign-born residents account for 2.7% of the population in Mill City, OR, and this percentage has decreased by 49.1% 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 | 81.1% | 9.0% |
% Black | 0.6% | 500.0% |
% Hispanic | 5.4% | -45.5% |
% Asian | 0.9% | -18.2% |
% Foreign Born | 2.7% | -49.1% |
Mortgage and Risk — Mill City, OR
According to HUD data as of 2023, there were 71 mortgage originations in Mill City, OR, of which 63.0% of loans were conventional mortgages. The average loan-to-value was 63.0%, with 35.0% above 90% LTV (very high). This implies large mortgage risk in Mill City, OR. Investor activity is low, as 3.0% of loans were by investors. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 71 |
% Conventional Loans | 63.0% |
% Government Loans | 37.0% |
% Investor Loans | 3.0% |
% Second Loans | 4.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Mill City, OR
Mill City, OR lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 37 |
Total Units Section 8 | 37 |
% Rentals under Section 8 | 13.9% |
% Occupied Section 8 | 78.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $1,120 |
| 2 Bedroom | $380 | $1,000 | $1,380 |
| 3 Bedroom | $520 | $1,340 | $1,860 |
| 4 Bedroom | N/A | N/A | $2,150 |
Affordability — Mill City, OR
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.9 |
| Median Home Price | $355,000 |
| Median Household Income | $68,900 |