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There's a the age old question everyone thinks about when they decide to move to a city in Oregon:
Should I buy a place or rent? Well, we aren't here today to solve that problem for you exactly. We are just assuming you'll do the right thing and a buy a place. And while we are happy to tell you the best place to live in Oregon, this analysis is going to tackle the question of the best place to buy a house as an investor. That is we are going to try and determine the up and coming cities in the Beaver State.
To do that we are going to look at places in Oregon that are growing faster than average, but where home prices are below average. In every day terms, the "deals". The best deal in Oregon at the moment? That would be Tillamook according to our analysis.
Here's a look at the top ten places to buy a home in oregon for 2020:
- Tillamook (Photos | Homes For Sale)
- Creswell (Photos | Homes For Sale)
- Winston (Photos | Homes For Sale)
- Warrenton (Photos | Homes For Sale)
- Junction City (Photos | Homes For Sale)
- Sheridan (Photos | Homes For Sale)
- Brookings (Photos | Homes For Sale)
- Talent (Photos | Homes For Sale)
- Seaside (Photos | Homes For Sale)
- Madras (Photos | Homes For Sale)
What's the best place to buy a home in Oregon for 2020? According to our analysis, would the the ideal place to buy a home looking into the future.
The methodology that wen't into this can be a bit complicated, so we'll break it down for you in as much detail as we can below. If you're not worried about finding a deal on good places to live, check out the most expensive places to live in oregon and, for those of you on a budget, the cheapest places to live in oregon.
For more Oregon reading, check out:
- These Are The 10 Best Counties To Live In Oregon
- 10 Best Places To Raise A Family In Oregon
- These Are The 10 Best Places To Retire In Oregon
The 10 Best Cities To Buy A House In Oregon For 2020
The city is named for the Tillamook people, a Native American tribe speaking a Salishan language who lived in this area until the early 19thcentury.
The first store opened at Creswell in 1872, and a town sprang up around it. The city was named for John Creswell, 23rd United States Postmaster General. A post office has been in operation in Creswell since 1872.
The first settlement within the Warrenton city limits was Lexington, which was laid out in 1848, and served as the first county seat for Clatsop County. The name fell out of use, and this area became known as Skipanon, which is preserved in the name of the Skipanon River which flows through the town. A Lexington post office operated intermittently between 1850 and 1857; a Skipanon post office operated without a break from 1871 to 1903.
In the 1870s, Junction City was named by railroad magnate Ben Holladay, who decided this would be where the rail line on the east side of the Willamette Valley would meet the rail line on the west side. The westside line, however, was not built according to plan, although Junction City later was where the two main branches of U.S. Route 99 would rejoin. The city was incorporated in 1872.
Absolem B. Faulconer laid out the plat for what became the city of Sheridan in the mid-1860s. This plat was recorded with the county on December 13, 1866. He had settled in the area in 1847. The Sheridan post office was established on April 4, 1866, with Absolem's brother Thomas serving as postmaster. By 1871 the town had grown to include two blacksmith shops, one church, one school, one hotel, one wagon shop, and two general stores. In October 1878, the Dayton, Sheridan and Grande Ronde Railroad, a narrow gauge railway, reached the community.
In 1906, the Brookings Timber Company hired William James Ward, a graduate in civil engineering and forestry, to come to the southern Oregon Coast and survey its lumbering potential. After timber cruising the Chetco and Pistol River areas for several years, he recommended that the Brookings people begin extensive lumbering operations here and secure a townsite for a mill and shipping center.
A. P. Tallent, an East Tennessee native who settled in Oregon in the 1870s, platted the city in the 1880s. He wanted to name it Wagner but was overruled by postal officials, who preferred Talent, dropping one of the l's. The post office opened at this location in 1883. Earlier names for the settlement were Eden District and Wagner Creek.
The Clatsop were an historic Native American tribe that had a village named Ne-co-tat in this area. Indigenous peoples had long inhabited the coastal area.
The original plat for Madras was filed on July 18, 1902, by Scandinavian immigrant John A. Palmehm, for whom the town was originally named "Palmain". The name was rejected by the U.S. Postal Service over its similarity to Parmen, and the name "Madras" was adopted, inspired by the cloth fabric of the same name, itself named for the city of Madras in India.
How do you determine the best places to buy a home in oregon for 2020?
We were in real estate for almost five years and have been working on this site for another three. Suffice is to say, we've put a lot of thought into what goes into finding a good place to buy a home.
So all that thinking has come to this moment where we get to spell out how we'd approach finding an up-and-coming place to live in Oregon. Put differently, the analysis will try to find places in Oregon with undervalued homes relative to pent up demand.
To do that we looked at the most recent American Community Survey Census data for 2014-2018 and compared it to the previous vintage (2012-2016). Specifically, we used the following criteria:
- Y-o-Y Change In Population (People want to live here)
- Y-o-Y Change In Median Home Prices (People are willing to pay for it)
- Home Prices Relative To The State Average (It's still kinda cheap)
We want places that are growing, have seen home prices increase in recent years, and are still "cheap" for Oregon with the following caveats:
- Home prices had to be within 20% of the state average (Much lower than that and you get to some of the more dangerous places)
- Home prices increased in the last year, and
- Above 5,000 people (Bigger cities have more data points)
So of the 0 cities and towns in Oregon, only 75 places made it through our initial filters to even be considered.
We then ranked each place from 1 to 75 for the criteria mentioned above with 1 being the best for that criteria. We averaged the rankings to create a "best place to buy" index with the place having the lowest index being the best. You can download the data here.
Turns out that Tillamook is the best potential gem in the not-so-rough in the Beaver State.
Read on for more on these places.
There You Have It - The Best Places To Purchase A House In oregon for 2020
There's our analysis of the best places to buy a house in Oregon. And, to be clear, we aren't necessarily saying these places are the best places to live, just that it looks like they might be in a couple of years based on the data.
In fact, every place in the following table meets our criteria, so even though it may not look super long, remember we started off with all 0 places in the state.
So if we'd could rent or buy in these cities, we'd definitely buy.
For more oregon reading, check out:
Detailed List Of The Best Places To Buy A Home In Oregon