Forest Grove, OR—97116
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Forest Grove, OR
As of Oct '25, the median home price in Forest Grove, OR is $527,000, with a year-over-year change of -0.3%. This indicates that home prices in Forest Grove, OR are flat. According to Zillow, the 1-year price projection is -0.7%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $527,000 | -0.3% |
| Single Family | $529,000 | -0.8% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $393,000 | 0.3% |
3 Bed | $494,000 | -0.2% |
4 Bed | $589,000 | -0.8% |
| 5 Bed | $682,000 | -1.0% |
% of Housing Stock
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 |
% of Rental Stock
Property Listings — Forest Grove, OR
As of Oct '25, Realtor.com reports that the median days on market for a home in Forest Grove, OR is 79. This is a increase of 36.0% 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 30.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $527,000 | -10.0% |
Listing Count | 145 | 45.0% |
| Listings as % of Homes | 0.7% | 45.0% |
Days on Market | 79 | 36.0% |
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% |
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% |
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% |
Loan Activity
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 |
Affordability — Forest Grove, OR
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 6 |
| Median Home Price | $527,000 |
| Median Household Income | $87,300 |