Good markets in Oregon

8 Replies

Hello everyone! My name is Jon and I am a registered nurse from CT. I have been educating myself for the past 6 months or so on the endless opportunity that is REI. I refuse to ever rent in my 20's, so once my girlfriend finishes her masters, we plan to move and invest in a multi unit property that we can house hack (just to start off our REI journey). We have three states in mind and they are the following: CA, CO, and OR. CA is pretty much out of the question after much research due to the high costs and difficulty of getting a good ROI. CO and OR seem to be our options, but leaning more towards OR. We have only explored in and around Portland so far. My question is, does anyone have any other suggestions in OR to invest in? Any other good cities or areas around nice cities where there seems to be some predicted appreciation? Any help is appreciated! Thanks in advance!

Hi Jon, welcome. I'm a big fan of your plan. Oregon multi family, especially portland area, is not cheap. But with little money down by house hacking and some updates while occupying you can do well. For a little "cheaper" but good upside I would look at newberg, sherwood, maybe even Sandy.

Salem for sure is cheaper, but not sure the appreciation will be there and rents are lower. There are also smaller college towns like mcminnville and forest grove that might get you a lower entry point, but put you a ways from Portland

I have to agree with Nels. Salem, McMinnville, Corvallis. Don't rule out Vancouver, Washington area its just over the river from Portland.

I love Oregon. I'd tell anybody its the best state, but I'm curious what's your draw to Oregon.

Another cool place to check out might be The Dalles Oregon.

@Jacob Whitney Oregon is in our price range and we have visited before. The scenery and outdoor activities fit our lifestyle perfectly. It just seems like a place that we would be happy and comfortable to live in. We have heard good things about growing appreciation in OR as well.

Yeah. In my opinion I haven't found a place I'd rather call home. I just ask because different cities have a lot to offer depending on what your looking for. One more area to consider is the Bend area. Great for outdoorsy people. Although Bend itself is pretty expensive there are good areas just outside. Best of luck to you.

the smaller towns will have limited 4 plex inventory..   Hood River is really cool spot.. 

and across the river in white salmon.

really depends on what you do for a living..  you get out of the major metro areas and Oregon economy is pretty poor by and large.. its roaring in the metro areas..

you could look at Eugene and Roseburg as well.. 

And keep in mind the weather here in the Willamette valley can be daunting for the very long wet dark cold winters.. 

Central Oregon you will see sunshine but more of 4 seasons.. Eastern Oregon is remote at best. cattle country.

Then there is southern Oregon  Medford Grants pass.. although winter there can see long periods of inversion layers.

but your closer to the really great Mtns of northern CA and redwood forests and lake Shasta ..  and there will be 4 plex's there as well but less expensive than PDX area... 4 plexs in PDX that you would want to live in are pushing 600k and up..

@Jonathan Manacchio I agree with the comments surrounding Hood River/White Salmon and The Dalles if you don't mind going that far east.  I feel the Columbia River Gorge is a special place.  Another option briefly mentioed would be Vancouver, WA.  That is where I live/work and I make regular weekly trips to downtown Portland to meet up with friends socially.

@Jonathan Manacchio , I would stay away from Eastern Oregon. Jobs, especially higher income earning ones, are much harder to come by except in a few markets, like Bend. Also, most of these smaller communities are swamped with investors currently, so many of the great deals like older landlords, and out of town owners have already been snapped up.