Bonanza, OR—97623
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Bonanza, OR
As of Oct '25, the median home price in Bonanza, OR is $311,000, with a year-over-year change of 1.5%. This indicates that home prices in Bonanza, OR are increasing. According to Zillow, the 1-year price projection is 2.5%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $311,000 | 1.5% |
| Single Family | $311,000 | 1.6% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $252,000 | -3.1% |
3 Bed | $358,000 | 2.0% |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Bonanza, OR
As of July '25, Rentcast reports the average rent in Bonanza, OR is $2,500, with a year-over-year rent change of 63.4%. Per bedroom, the median rent as of July '25 in Bonanza, OR is 3-bedrooms: $2,500. The most common rental property sizes in Bonanza, OR are 2-bedroom and 3-bedroom, accounting for 46.6% and 46.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,500 | $2,500 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | $2,500 | $2,500 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Bonanza, OR
As of Oct '25, Realtor.com reports that the median days on market for a home in Bonanza, OR is 86. This is a decrease of -35.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 13.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $419,000 | 15.0% |
Listing Count | 15 | 2.0% |
| Listings as % of Homes | 0.5% | 2.0% |
Days on Market | 86 | -35.0% |
Demographics — Bonanza, OR
As of the latest ACS Survey released in 2023, Bonanza, OR has a population of 2,950, which has increased by 13.8% over the past 5 years. Bonanza, OR is a moderately popular place for families, as children make up 17.7% of the population. The area has a poorly educated workforce, with 24.7% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 13.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 2,950 | 13.8% |
% Under 18 | 17.7% | -24.7% |
% Seniors | 34.8% | 33.3% |
% WFH | 13.6% | -1.4% |
% w/ College Degree | 24.7% | 60.4% |
As of the latest ACS Survey released in 2023, Bonanza, OR is a predominantly white area, with 85.8% of the population identifying as white. The white population has shrunk by 1.3% in the last 5 years. The second most common race or ethnicity in Bonanza, OR is hispanic, making up 11.6% of the population. Foreign-born residents account for 3.8% of the population in Bonanza, OR, and this percentage has decreased by 5.0% 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 | 85.8% | -1.3% |
% Black | 0.0% | -100.0% |
% Hispanic | 11.6% | 36.5% |
% Asian | 0.0% | N/A |
% Foreign Born | 3.8% | -5.0% |
Mortgage and Risk — Bonanza, OR
According to HUD data as of 2023, there were 43 mortgage originations in Bonanza, OR, of which 79.0% of loans were conventional mortgages. The average loan-to-value was 58.0%, with 19.0% above 90% LTV (elevated). This implies medium mortgage risk in Bonanza, OR. Investor activity is low, as 0.0% of loans were by investors. 21.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 43 |
% Conventional Loans | 79.0% |
% Government Loans | 21.0% |
% Investor Loans | 0.0% |
% Second Loans | 7.0% |
% Cash Out Refinance | 21.0% |
Loan Activity
Rentals and Section 8 — Bonanza, OR
Bonanza, OR lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 3 |
Total Units Section 8 | 3 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $760 |
| 2 Bedroom | N/A | N/A | $1,000 |
| 3 Bedroom | -$1,100 | $2,500 | $1,400 |
| 4 Bedroom | N/A | N/A | $1,680 |
Affordability — Bonanza, OR
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.7 |
| Median Home Price | $311,000 |
| Median Household Income | $76,500 |