Redmond, OR—97756
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Redmond, OR
As of Oct '25, the median home price in Redmond, OR is $510,000, with a year-over-year change of -1.8%. This indicates that home prices in Redmond, 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 | $510,000 | -1.8% |
| Single Family | $511,000 | -1.7% |
| Condos | $357,000 | -1.4% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $419,000 | -3.2% |
3 Bed | $493,000 | -2.0% |
4 Bed | $587,000 | -1.3% |
| 5 Bed | $664,000 | -0.7% |
% of Housing Stock
Rental Trends — Redmond, OR
As of July '25, Rentcast reports the average rent in Redmond, OR is $2,150, with a year-over-year rent change of -2.3%. Per bedroom, the median rent as of July '25 in Redmond, OR is studios: $1,300, 1-bedrooms: $1,450, 2-bedrooms: $1,870, 3-bedrooms: $2,390, 4-bedrooms: $2,930. The most common rental property sizes in Redmond, OR are 3-bedroom and 2-bedroom, accounting for 40.7% and 36.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,080 | $2,150 |
| Studio Rent | $1,200 | $1,300 |
| 1 Bed Rent | $1,500 | $1,450 |
| 2 Bed Rent | $1,850 | $1,870 |
| 3 Bed Rent | $2,400 | $2,390 |
| 4 Bed Rent | $2,850 | $2,930 |
% of Rental Stock
Property Listings — Redmond, OR
As of Oct '25, Realtor.com reports that the median days on market for a home in Redmond, OR is 79. This is a increase of 9.0% 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 | $529,000 | -4.0% |
Listing Count | 361 | -19.0% |
| Listings as % of Homes | 1.4% | -19.0% |
Days on Market | 79 | 9.0% |
Demographics — Redmond, OR
As of the latest ACS Survey released in 2023, Redmond, OR has a population of 44,300, which has increased by 18.0% over the past 5 years. Redmond, OR is a moderately popular place for families, as children make up 21.8% of the population. The area has a moderately educated workforce, with 32.2% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 16.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 44,300 | 18.0% |
% Under 18 | 21.8% | 4.3% |
% Seniors | 19.1% | 2.7% |
% WFH | 16.8% | 118.2% |
% w/ College Degree | 32.2% | 53.3% |
As of the latest ACS Survey released in 2023, Redmond, OR is a predominantly white area, with 82.4% of the population identifying as white. The white population has shrunk by 3.7% in the last 5 years. The second most common race or ethnicity in Redmond, OR is hispanic, making up 12.9% of the population. Foreign-born residents account for 5.8% of the population in Redmond, OR, and this percentage has increased by 23.4% 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 | 82.4% | -3.7% |
% Black | 0.6% | -25.0% |
% Hispanic | 12.9% | 31.6% |
% Asian | 1.0% | 150.0% |
% Foreign Born | 5.8% | 23.4% |
Mortgage and Risk — Redmond, OR
According to HUD data as of 2023, there were 1111 mortgage originations in Redmond, OR, of which 80.0% of loans were conventional mortgages. The average loan-to-value was 54.0%, with 23.0% above 90% LTV (very high). This implies large mortgage risk in Redmond, OR. Investor activity is low, as 2.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 1,111 |
% Conventional Loans | 80.0% |
% Government Loans | 20.0% |
% Investor Loans | 2.0% |
% Second Loans | 3.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — Redmond, OR
As of 2024, the percent of homes in Redmond, OR under the Section 8 program is 8.5%. 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. In Redmond, 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 | 436 |
Total Units Section 8 | 436 |
% Rentals under Section 8 | 8.5% |
% Occupied Section 8 | 91.7% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$340 | $1,500 | $1,160 |
| 2 Bedroom | -$380 | $1,850 | $1,470 |
| 3 Bedroom | -$340 | $2,400 | $2,060 |
| 4 Bedroom | -$370 | $2,850 | $2,480 |
Affordability — Redmond, OR
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 6 |
| Median Home Price | $510,000 |
| Median Household Income | $84,100 |