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 a population of 3,503, 1,348 total housing units (homes and apartments), and a median house value of $428,352, Myrtle Creek real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Myrtle Creek, accounting for 75.00% of the city's housing units. Other types of housing that are prevalent in Myrtle Creek include duplexes, homes converted to apartments or other small apartment buildings ( 11.24%), large apartment complexes or high rise apartments ( 7.21%), and a few mobile homes or trailers ( 4.10%).
The most prevalent building size and type in Myrtle Creek are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 54.99% owning and 45.01% renting.
There is a lot of housing in Myrtle Creek 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 Myrtle Creek built between 1940-1969 ( 36.24%). A lesser amount of the housing stock also hails from between 2000 and later ( 15.48%). There's also some housing in Myrtle Creek built before 1939 ( 7.61%).
Vacant housing appears to be an issue in Myrtle Creek. Fully 10.85% of the housing stock is classified as vacant. Left unchecked, vacant Myrtle Creek homes and apartments can be a drag on the real estate market, holding Myrtle Creek real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
In the last 10 years, Myrtle Creek has experienced some of the highest home appreciation rates of any community in the nation. Myrtle Creek real estate appreciated 126.68% over the last ten years, which is an average annual home appreciation rate of 8.53%, putting Myrtle Creek in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Myrtle Creek definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Over the last year, Myrtle Creek appreciation rates have trailed the rest of the nation. In the last twelve months, Myrtle Creek's appreciation rate has been 3.30%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Myrtle Creek were at 2.21%, which equates to an annual appreciation rate of 9.15%.
Relative to Oregon, our data show that Myrtle Creek's latest annual appreciation rate is higher than 80% of the other cities and towns in Oregon.
$428,352
for Oregon
for nation
1,348
$1,476 / per month