Klamath Falls, OR—97603
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Klamath Falls, OR
As of Oct '25, the median home price in Klamath Falls, OR is $322,000, with a year-over-year change of 3.6%. This indicates that home prices in Klamath Falls, OR are increasing. According to Zillow, the 1-year price projection is 2.0%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $322,000 | 3.6% |
| Single Family | $325,000 | 3.5% |
| Condos | $227,000 | 3.7% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $186,000 | 1.1% |
2 Bed | $234,000 | 4.0% |
3 Bed | $325,000 | 3.5% |
4 Bed | $412,000 | 3.0% |
| 5 Bed | $459,000 | 2.2% |
% of Housing Stock
Rental Trends — Klamath Falls, OR
As of July '25, Rentcast reports the average rent in Klamath Falls, OR is $1,490, with a year-over-year rent change of 5.7%. Per bedroom, the median rent as of July '25 in Klamath Falls, OR is 1-bedrooms: $1,080, 2-bedrooms: $1,200, 3-bedrooms: $1,810, 4-bedrooms: $2,600. The most common rental property sizes in Klamath Falls, OR are 2-bedroom and 3-bedroom, accounting for 48.0% and 30.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,350 | $1,490 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $950 | $1,080 |
| 2 Bed Rent | $1,200 | $1,200 |
| 3 Bed Rent | $1,750 | $1,810 |
| 4 Bed Rent | $2,200 | $2,600 |
% of Rental Stock
Property Listings — Klamath Falls, OR
As of Oct '25, Realtor.com reports that the median days on market for a home in Klamath Falls, OR is 70. This is a increase of 15.0% 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 35.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $373,000 | 1.0% |
Listing Count | 148 | 14.0% |
| Listings as % of Homes | 0.7% | 14.0% |
Days on Market | 70 | 15.0% |
Demographics — Klamath Falls, OR
As of the latest ACS Survey released in 2023, Klamath Falls, OR has a population of 32,200, which has increased by 11.3% over the past 5 years. Klamath Falls, OR is a moderately popular place for families, as children make up 24.4% of the population. The area has a poorly educated workforce, with 22.0% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 32,200 | 11.3% |
% Under 18 | 24.4% | 1.7% |
% Seniors | 20.7% | 10.7% |
% WFH | 7.0% | 32.1% |
% w/ College Degree | 22.0% | 12.8% |
As of the latest ACS Survey released in 2023, Klamath Falls, OR is a predominantly white area, with 73.1% of the population identifying as white. The white population has shrunk by 7.1% in the last 5 years. The second most common race or ethnicity in Klamath Falls, OR is hispanic, making up 15.4% of the population. Foreign-born residents account for 4.4% of the population in Klamath Falls, OR, and this percentage has decreased by 18.5% 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 | 73.1% | -7.1% |
% Black | 0.8% | 60.0% |
% Hispanic | 15.4% | 18.5% |
% Asian | 0.6% | -50.0% |
% Foreign Born | 4.4% | -18.5% |
Mortgage and Risk — Klamath Falls, OR
According to HUD data as of 2023, there were 494 mortgage originations in Klamath Falls, OR, of which 64.0% of loans were conventional mortgages. The average loan-to-value was 66.0%, with 33.0% above 90% LTV (very high). This implies large mortgage risk in Klamath Falls, OR. Investor activity is low, as 2.0% of loans were by investors. 20.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 494 |
% Conventional Loans | 64.0% |
% Government Loans | 36.0% |
% Investor Loans | 2.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 20.0% |
Loan Activity
Rentals and Section 8 — Klamath Falls, OR
Klamath Falls, OR lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 516 |
Total Units Section 8 | 516 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 98.5% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$70 | $950 | $880 |
| 2 Bedroom | -$40 | $1,200 | $1,160 |
| 3 Bedroom | -$120 | $1,750 | $1,630 |
| 4 Bedroom | -$250 | $2,200 | $1,950 |
Affordability — Klamath Falls, OR
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.6 |
| Median Home Price | $322,000 |
| Median Household Income | $64,300 |