Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 19,423 people, 6,551 houses or apartments, and a median cost of homes of $315,045, Hermiston real estate values are some of the lowest in Oregon, although compared to real estate around the nation, Hermiston homes are still considered rather expensive.
Single-family detached homes are the single most common housing type in Hermiston, accounting for 58.47% of the city's housing units. Other types of housing that are prevalent in Hermiston include large apartment complexes or high rise apartments ( 15.84%), duplexes, homes converted to apartments or other small apartment buildings ( 11.73%), and a few mobile homes or trailers ( 11.39%).
The most prevalent building size and type in Hermiston are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 60.45% owning and 39.55% renting.
There is a lot of housing in Hermiston built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Hermiston built between 2000 and later ( 28.26%). A lesser amount of the housing stock also hails from between 1940-1969 ( 21.17%). There's also some housing in Hermiston built before 1939 ( 3.34%).
Appreciation rates for homes in Hermiston have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 93.19%, which ranks in the top 50% nationwide. This equates to an annual average Hermiston house appreciation rate of 6.81%.
Over the last year, Hermiston appreciation rates have trailed the rest of the nation. In the last twelve months, Hermiston's appreciation rate has been -1.01%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Hermiston were at 2.21%, which equates to an annual appreciation rate of 9.15%.
Relative to Oregon, our data show that Hermiston's latest annual appreciation rate is lower than 80% of the other cities and towns in Oregon.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Hermiston differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Hermiston - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Hermiston real estate investment or home purchase decisions.
$315,045
for Oregon
for nation
6,551
$1,532 / per month