Madras, OR Real Estate Market

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Madras, OR Housing Market Trends

With a population of 7,051, 2,456 total housing units (homes and apartments), and a median house value of $331,147, Madras real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Madras, accounting for 57.87% of the city's housing units. Other types of housing that are prevalent in Madras include large apartment complexes or high rise apartments ( 14.22%), duplexes, homes converted to apartments or other small apartment buildings ( 13.37%), and a few mobile homes or trailers ( 10.97%).

The most prevalent building size and type in Madras are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 41.04% owning and 58.96% renting.

There is a lot of housing in Madras 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 Madras built between 1940-1969 ( 28.03%). A lesser amount of the housing stock also hails from between 2000 and later ( 18.06%). There's also some housing in Madras built before 1939 ( 1.99%).

Madras Home Appreciation Rates

In the last 10 years, Madras has experienced some of the highest home appreciation rates of any community in the nation. Madras real estate appreciated 125.31% over the last ten years, which is an average annual home appreciation rate of 8.46%, putting Madras in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Madras definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Appreciation rates are so strong in Madras that despite a nationwide downturn in the housing market, Madras real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Madras appreciation rates continue to be some of the highest in America, at 11.17%, which is higher than appreciation rates in 77.92% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Madras. Madras appreciation rates in the latest quarter were at 4.81%, which equates to an annual appreciation rate of 20.68%.

Importantly, this makes Madras one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Oregon, our data show that Madras's latest annual appreciation rate is lower than 70% of the other cities and towns in Oregon.

Average Home Values

 

Median Home Value:
$331,147

Madras, OR HOME PRICES

> $1,481,000
1.2%
1.2%
$1,111,001 - $1,481,000
1.0%
1.0%
$740,001 - $1,111,000
2.6%
2.6%
$592,001 - $740,000
6.1%
6.1%
$445,001 - $592,000
6.9%
6.9%
$296,001 - $445,000
31.9%
31.9%
$148,001 - $296,000
24.7%
24.7%
$74,001 - $148,000
15.1%
15.1%
$0 - $74,000
10.5%
10.5%
0.0% 100.0%
% OF HOMES
Value Relative To State

High for Nation

Average for OR

Value Relative To Nation

Number Of Homes And Apartments:
2,456

Madras Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
OR*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
116.36% 3.65%
2
8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,392 / per month

Homeownership Rate

Owners
41.0%
41.0%
Renters
59.0%
59.0%
Vacant
9.3%
9.3%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
18.1%
18.1%
1970 - 1999
51.9%
51.9%
1940 - 1969
28.0%
28.0%
1939 or Older
2.0%
2.0%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
57.9%
57.9%
Townhomes
3.6%
3.6%
Small Apt. Buildings
13.4%
13.4%
Apt. Complexes
14.2%
14.2%
Mobile Homes
11.0%
11.0%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
2.8%
2.8%
1 Bedroom
10.5%
10.5%
2 Bedrooms
35.4%
35.4%
3 Bedrooms
42.1%
42.1%
4 Bedrooms
8.5%
8.5%
5 or more bedrooms
0.7%
0.7%
0.0% 100.0%
% OF HOMES

Popular Communities Near Madras, OR

Zip Codes in Madras, OR