The Housing Market in Central Oregon: Low Vacancy Rates Continue

by Karla Castillo

January 24, 2017

As the economy continues to expand, unemployment rates continue to decrease, and the population continues to grow, the housing supply continues to shrink.

According to the latest U.S. Census estimates, the cities with the lowest owner vacancy rates were Bend with a 1.4 percent rate, followed by La Pine (2.7 percent), and Madras (3 percent). Prineville and Redmond had the lowest renter vacancy rates at 0.8 percent and 2.6 percent, respectively.
According to the Annual Rental Survey produced by the Central Oregon Rental Owners Association, Central Oregon’s rental vacancy rate in 2016 was 1 percent. From 2012 to 2016 the rate decreased 3.4 percentage points.

Other sources also report a decrease in commercial vacancy rates and a shortage of affordable industrial land.

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