Forest Grove, OR 97116 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Forest Grove, OR—97116

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$529,000

1.8% YoY Growth

Household Income

$87,300

40.9% YoY Growth

Days on Market

6.0% Longer YoY

Home Price Forecast

-2.1%

Median Rent

$1,740

7.2% YoY Growth

1-Bed Rent

$1,320

29.6% YoY Growth

2-Bed Rent

$1,640

6.0% YoY Growth

3-Bed Rent

$2,350

9.2% YoY Growth

Home Price Trends — Forest Grove, OR

As of May '26, the median home price in Forest Grove, OR is $529,000, with a year-over-year change of -1.8%. This indicates that home prices in Forest Grove, OR are decreasing. According to Zillow, the 1-year price projection is -2.1%, suggesting a decrease housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$529,000	-1.8%
Single Family	$531,000	-1.8%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Forest Grove, OR

As of July '25, Rentcast reports the average rent in Forest Grove, OR is $1,940, with a year-over-year rent change of 7.2%. Per bedroom, the median rent as of July '25 in Forest Grove, OR is studios: $1,550, 1-bedrooms: $1,400, 2-bedrooms: $1,590, 3-bedrooms: $2,270, 4-bedrooms: $2,820. The most common rental property sizes in Forest Grove, OR are 2-bedroom and 1-bedroom, accounting for 38.5% and 30.2% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$1,740	$1,940
Studio Rent	$1,550	$1,550
1 Bed Rent	$1,320	$1,400
2 Bed Rent	$1,640	$1,590
3 Bed Rent	$2,350	$2,270
4 Bed Rent	$3,000	$2,820

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% of Rental Stock

Studio

7.5%

1 Bedroom

30.2%

2 Bedrooms

38.5%

3 Bedrooms

19.1%

4 Bedrooms

2.0%

5+ Bedrooms

2.7%

Property Listings — Forest Grove, OR

As of May '26, Realtor.com reports that the median days on market for a home in Forest Grove, OR is 48. This is a increase of 6.0% 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 32.0%, representing a large inventory and a lot of supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$530,000	-6.0%
Listing Count	113	-5.0%
Listings as % of Homes	0.7%	-5.0%
Days on Market	48	6.0%

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Demographics — Forest Grove, OR

As of the latest ACS Survey released in 2023, Forest Grove, OR has a population of 29,600, which has increased by 10.6% over the past 5 years. Forest Grove, OR is a moderately popular place for families, as children make up 23.8% of the population. The area has a moderately educated workforce, with 32.5% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.0% reporting working from home.

Metric	Latest Census	YoY % Change
Population	29,600	10.6%
% Under 18	23.8%	0.8%
% Seniors	15.2%	3.4%
% WFH	10.0%	28.2%
% w/ College Degree	32.5%	28.5%

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As of the latest ACS Survey released in 2023, Forest Grove, OR is a predominantly white area, with 64.4% of the population identifying as white. The white population has shrunk by 7.2% in the last 5 years. The second most common race or ethnicity in Forest Grove, OR is hispanic, making up 27.2% of the population. Foreign-born residents account for 11.7% of the population in Forest Grove, OR, and this percentage has increased by 7.3% 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	64.4%	-7.2%
% Black	2.3%	283.3%
% Hispanic	27.2%	27.7%
% Asian	2.0%	-45.9%
% Foreign Born	11.7%	7.3%

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Mortgage and Risk — Forest Grove, OR

According to HUD data as of 2023, there were 513 mortgage originations in Forest Grove, OR, of which 83.0% of loans were conventional mortgages. The average loan-to-value was 55.0%, with 26.0% above 90% LTV (very high). This implies large mortgage risk in Forest Grove, OR. Investor activity is low, as 0.0% 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	513
% Conventional Loans	83.0%
% Government Loans	17.0%
% Investor Loans	0.0%
% Second Loans	1.0%
% Cash Out Refinance	8.0%

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Rentals and Section 8 — Forest Grove, OR

As of 2024, the percent of homes in Forest Grove, OR under the Section 8 program is 8.9%. 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. 1-bedroom and 2-bedroom and 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Forest Grove, OR, because HUD payments exceed market rent, while 4-bedroom units do not.

Section 8 Market Size

Total Units under HUD	265
Total Units Section 8	265
% Rentals under Section 8	8.9%
% Occupied Section 8	90.6%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	$280	$1,320	$1,600
2 Bedroom	$190	$1,640	$1,830
3 Bedroom	$180	$2,350	$2,530
4 Bedroom	-$70	$3,000	$2,930

Forest Grove, OR—97116

Key Metrics at a Glance

Home Price Trends — Forest Grove, OR

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Forest Grove, OR

% of Rental Stock

Property Listings — Forest Grove, OR

Demographics — Forest Grove, OR

Race and Ethnicity

Mortgage and Risk — Forest Grove, OR

Mortgages

Rentals and Section 8 — Forest Grove, OR

Section 8 Market Size

Section 8 Opportunity

Affordability — Forest Grove, OR

Home Price to Income Ratio

Forest Grove, OR — ZIP Code Boundary Map

Nearby ZIP Codes

Banks, OR

Gaston, OR

Gales Creek, OR

Buxton, OR

Cornelius, OR

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	6.1
Median Home Price	$529,000
Median Household Income	$87,300

Forest Grove, OR—97116

Key Metrics at a Glance

Home Price Trends — Forest Grove, OR

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Forest Grove, OR

% of Rental Stock

Property Listings — Forest Grove, OR

Demographics — Forest Grove, OR

Race and Ethnicity

Mortgage and Risk — Forest Grove, OR

Mortgages

Rentals and Section 8 — Forest Grove, OR

Section 8 Market Size

Section 8 Opportunity

Affordability — Forest Grove, OR

Home Price to Income Ratio

Forest Grove, OR — ZIP Code Boundary Map

Nearby ZIP Codes

Banks, OR

Gaston, OR

Gales Creek, OR

Buxton, OR

Cornelius, OR

Frequently Asked Questions

What is the average home price in Forest Grove, OR 97116?

How have home prices in Forest Grove, OR 97116 changed over the past year?

What is the home price projection for Forest Grove, OR 97116?

What are the demographics of Forest Grove, OR 97116?

How long does it take homes to sell in Forest Grove, OR 97116?

What is the average rent price in Forest Grove, OR 97116?