Rents in Southwest Oregon RisingSeptember 8, 2017 Zillow’s website is more than just a platform for homebuyers and sellers to search local inventory. It also publishes historical rental values and estimates thanks to its research division. By gathering data on listings, prior sales, tax assessments, and geographic locations of millions of homes and rentals, Zillow Research produces an index of rental prices to observe trends over time. The Zillow Rent Index (ZRI) aggregates an area’s rental estimates from collected data and tracks how rental prices have behaved in a selected area for condos, single-family residences, and multifamily units (typically apartments).
According to the ZRI’s latest data from July 2017, median rents for all rentals in the counties of Southwest Oregon were $1,202 for Coos County, $1,460 in Curry County, and $990 in Douglas County. Across all three counties, single-family residences had a higher median rental price than the multifamily units. This is to be expected, as renting a house is typically more expensive than renting an apartment. Since July 2016, median rental prices for single-family rentals have increased 1.3 percent in Coos, 3.5 percent in Curry, and 6.1 percent in Douglas. Median rental prices for multifamily units have increased 2.0 percent in Coos, 0.9 percent in Curry, and 4.1 percent in Douglas in the same timeframe.
For more information on our region’s housing inventory and how employment in construction has behaved in conjunction with building permits over time, please read the articles for Coos, Curry, and Douglas counties written by our area’s Regional Economist, Annette Shelton-Tiderman.