Hermiston, OR—97838
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Hermiston, OR
As of Oct '25, the median home price in Hermiston, OR is $343,000, with a year-over-year change of 2.1%. This indicates that home prices in Hermiston, OR are increasing. According to Zillow, the 1-year price projection is 1.1%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $343,000 | 2.1% |
| Single Family | $343,000 | 1.8% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $233,000 | 1.7% |
3 Bed | $334,000 | 2.1% |
4 Bed | $407,000 | 2.0% |
| 5 Bed | $487,000 | 2.1% |
% of Housing Stock
Rental Trends — Hermiston, OR
As of July '25, Rentcast reports the average rent in Hermiston, OR is $1,790, with a year-over-year rent change of 11.2%. Per bedroom, the median rent as of July '25 in Hermiston, OR is 1-bedrooms: $2,700, 2-bedrooms: $1,260, 3-bedrooms: $1,680. The most common rental property sizes in Hermiston, OR are 3-bedroom and 2-bedroom, accounting for 39.5% and 37.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,250 | $1,790 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $867 | $2,700 |
| 2 Bed Rent | $1,220 | $1,260 |
| 3 Bed Rent | $1,800 | $1,680 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Hermiston, OR
As of Oct '25, Realtor.com reports that the median days on market for a home in Hermiston, OR is 79. This is a increase of 5.0% 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 | $388,000 | -1.0% |
Listing Count | 113 | 7.0% |
| Listings as % of Homes | 0.9% | 7.0% |
Days on Market | 79 | 5.0% |
Demographics — Hermiston, OR
As of the latest ACS Survey released in 2023, Hermiston, OR has a population of 28,000, which has increased by 7.4% over the past 5 years. Hermiston, OR is a popular place for families, as children make up 27.0% of the population. The area has a poorly educated workforce, with 15.4% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 3.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 28,000 | 7.4% |
% Under 18 | 27.0% | -6.9% |
% Seniors | 13.8% | 7.0% |
% WFH | 3.6% | 50.0% |
% w/ College Degree | 15.4% | -12.5% |
As of the latest ACS Survey released in 2023, Hermiston, OR is a predominantly white area, with 47.9% of the population identifying as white. The white population has shrunk by 20.8% in the last 5 years. The second most common race or ethnicity in Hermiston, OR is hispanic, making up 45.3% of the population. Foreign-born residents account for 16.8% of the population in Hermiston, OR, and this percentage has increased by 10.5% 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 | 47.9% | -20.8% |
% Black | 0.7% | 133.3% |
% Hispanic | 45.3% | 20.2% |
% Asian | 1.2% | 500.0% |
% Foreign Born | 16.8% | 10.5% |
Mortgage and Risk — Hermiston, OR
According to HUD data as of 2023, there were 348 mortgage originations in Hermiston, OR, of which 60.0% of loans were conventional mortgages. The average loan-to-value was 67.0%, with 41.0% above 90% LTV (very high). This implies large mortgage risk in Hermiston, OR. Investor activity is low, as 1.0% of loans were by investors. 16.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 348 |
% Conventional Loans | 60.0% |
% Government Loans | 40.0% |
% Investor Loans | 1.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 16.0% |
Loan Activity
Rentals and Section 8 — Hermiston, OR
Hermiston, OR lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 381 |
Total Units Section 8 | 259 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 89.5% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $43 | $867 | $910 |
| 2 Bedroom | -$30 | $1,220 | $1,190 |
| 3 Bedroom | -$130 | $1,800 | $1,670 |
| 4 Bedroom | N/A | N/A | $2,000 |
Affordability — Hermiston, OR
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.3 |
| Median Home Price | $343,000 |
| Median Household Income | $76,000 |