Bend, OR—97702
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Bend, OR
As of Oct '25, the median home price in Bend, OR is $679,000, with a year-over-year change of -3.5%. This indicates that home prices in Bend, OR are decreasing. 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 Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $679,000 | -3.5% |
| Single Family | $688,000 | -3.6% |
| Condos | $312,000 | -9.3% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $278,000 | -10.0% |
2 Bed | $561,000 | -3.3% |
3 Bed | $653,000 | -4.0% |
4 Bed | $793,000 | -3.6% |
| 5 Bed | $1,006,000 | -2.9% |
% of Housing Stock
Rental Trends — Bend, OR
As of July '25, Rentcast reports the average rent in Bend, OR is $2,660, with a year-over-year rent change of -1.1%. Per bedroom, the median rent as of July '25 in Bend, OR is studios: $1,600, 1-bedrooms: $1,800, 2-bedrooms: $2,190, 3-bedrooms: $2,870, 4-bedrooms: $3,140. The most common rental property sizes in Bend, OR are 3-bedroom and 2-bedroom, accounting for 39.1% and 29.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,650 | $2,660 |
| Studio Rent | $1,550 | $1,600 |
| 1 Bed Rent | $1,800 | $1,800 |
| 2 Bed Rent | $1,950 | $2,190 |
| 3 Bed Rent | $2,750 | $2,870 |
| 4 Bed Rent | $3,000 | $3,140 |
% of Rental Stock
Property Listings — Bend, OR
As of Oct '25, Realtor.com reports that the median days on market for a home in Bend, OR is 93. This is a increase of 26.0% 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 29.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $767,000 | 1.0% |
Listing Count | 416 | 16.0% |
| Listings as % of Homes | 0.8% | 16.0% |
Days on Market | 93 | 26.0% |
Demographics — Bend, OR
As of the latest ACS Survey released in 2023, Bend, OR has a population of 53,100, which has increased by 11.4% over the past 5 years. Bend, OR is a moderately popular place for families, as children make up 20.3% of the population. The area has a highly educated workforce, with 46.4% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 21.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 53,100 | 11.4% |
% Under 18 | 20.3% | -7.7% |
% Seniors | 19.7% | 8.8% |
% WFH | 21.7% | 88.7% |
% w/ College Degree | 46.4% | 16.6% |
As of the latest ACS Survey released in 2023, Bend, OR is a predominantly white area, with 84.0% of the population identifying as white. The white population has shrunk by 4.7% in the last 5 years. The second most common race or ethnicity in Bend, OR is hispanic, making up 8.8% of the population. Foreign-born residents account for 5.1% of the population in Bend, OR, and this percentage has increased by 30.8% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 84.0% | -4.7% |
% Black | 0.3% | -40.0% |
% Hispanic | 8.8% | 11.4% |
% Asian | 0.8% | -27.3% |
% Foreign Born | 5.1% | 30.8% |
Mortgage and Risk — Bend, OR
According to HUD data as of 2023, there were 1278 mortgage originations in Bend, OR, of which 92.0% of loans were conventional mortgages. The average loan-to-value was 47.0%, with 12.0% above 90% LTV (elevated). This implies medium mortgage risk in Bend, OR. Investor activity is low, as 2.0% of loans were by investors. 7.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 1,278 |
% Conventional Loans | 92.0% |
% Government Loans | 8.0% |
% Investor Loans | 2.0% |
% Second Loans | 4.0% |
% Cash Out Refinance | 7.0% |
Loan Activity
Rentals and Section 8 — Bend, OR
As of 2024, the percent of homes in Bend, OR under the Section 8 program is 3.4%. 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. In Bend, OR, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.
Section 8 Market Size
Total Units under HUD | 205 |
Total Units Section 8 | 205 |
% Rentals under Section 8 | 3.4% |
% Occupied Section 8 | 92.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$390 | $1,800 | $1,410 |
| 2 Bedroom | -$170 | $1,950 | $1,780 |
| 3 Bedroom | -$260 | $2,750 | $2,490 |
| 4 Bedroom | -$10 | $3,000 | $2,990 |
Affordability — Bend, OR
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 7.5 |
| Median Home Price | $679,000 |
| Median Household Income | $89,100 |