• Tue. Apr 20th, 2021

Oregon cities with the most affordable homes: Less cost, more living space

Since stay-at-home orders were issued to reduce the spread of the coronavirus, more people have wanted to move out of an urban condo with a shared elevator and into a house with a backyard, according to real estate reports.

For once, a dream home may be more affordable.

Home buyers escaping to the suburbs and rural areas are rewarded with about 25% more square footage of living space for the same price as a home closer to Portland, says Danielle Hale, chief economist with the real estate marketplace Realtor.com.

How far out of Portland will people go to buy property if they can permanently work at home and their daily commute is erased?

Analysts with Realtor.com created a list of the most affordable residential properties based on the lowest median price per square foot for a single-family house in Oregon areas.

Houses in Salem, deemed the most affordable area, had a price per square foot of $209 in November, the latest data available, which is well below the $261 to $291 per square foot price around Portland.

For the typical home in Salem, buyers will not only spend less on the purchase price but will also get an extra 270 square feet of living space over the typical Portland listing, says Hale. This is more than enough space for an extra bedroom, Zoom room or flexible multipurpose room.

Home shoppers who are willing to look beyond the Portland area may get more space for their dollar, she says.

Here’s the top Oregon places with the most affordable homes, according to Realtor.com:

2037 Audubon Ave. in Salem is listed by Airika Waible of New Home Realty at $437,900, which is close to Salem’s median listing price of $437,000.New Home Realty

  • The median price per square foot of $209 in November was up 13.6% compared to the same period the previous year.
  • The median listing price was $437,000, a 14.9% increase from the prior 12 months.
  • The number of residential properties for sale was a 67% decrease from the previous year.
  • Homes spent a median of 51 days on the market before an offer was accepted, which was a day longer than the previous year.
  • See Salem homes for sale
Gresham home

596 S.E. Greenway Dr. in Gresham has a pending offer at $414,900, close to Gresham’s median listing price of $413,000.Jim Nickila/RE/MAX Equity Group

  • The median price per square foot of $211 in November was up 5% compared to the same period the previous year.
  • The median listing price was $413,000, a 6% increase from the prior 12 months.
  • The number of residential properties for sale was a 61% decrease from the previous year.
  • Homes spent a median of 50 days on the market before an offer was accepted, which was a decrease of eight days.
  • See Gresham homes for sale
Medford home

3311 Edgewater Dr. In Medford is listed at $$399,900, close to Medford’s median listing price of $400,000.Todd Couch Real Estate

  • The median price per square foot of $216 in November was up 11.9% compared to the same period the previous year.
  • The median listing price was $400,000, an 11.9% increase from the prior 12 months.
  • The number of residential properties for sale was a 71% decrease from the previous year.
  • Homes spent a median of 47 days on the market before an offer was accepted, which was a decrease of 22 days.
  • See Medford homes for sale
Corvallis home

4034 N.W. Walnut Court in Corvallis is listed at $450,000, which is Corvallis’ median listing price.Joel Getsfrid/Keller Williams Realty Mid-Willamette

  • The median price per square foot of $236 in November was up 11.3% compared to the same period the previous year.
  • The median listing price was $450,000, a 2.3% decrease from the prior 12 months.
  • The number of residential properties for sale was a 43% decrease from the previous year.
  • Homes spent a median of 67 days on the market before an offer was accepted, which was a decrease of 11 days.
  • See Corvallis homes for sale
Beaverton home

19903 S.W. Valiant Dr. in Beaverton is pending at $429,900, close to Beaverton’s median listing price of $430,000.Ashley Christianson/Brantley Christianson Real Estate

  • The median price per square foot of $239 in November was up 8.2% compared to the same period the previous year.
  • The median listing price was $430,000, a 3.6% increase from the prior 12 months.
  • The number of residential properties for sale was a 63% decrease from the previous year.
  • Homes spent a median of 35 days on the market before an offer was accepted, which was a decrease of 11 days.
  • See Beaverton homes for sale
Springfield home

251 74th St. in Springfield is listed at $359,000, close to Springfield’s median listing price of $357,000.Linnea Kittrell/Real Estate Performance Group

  • The median price per square foot of $245 in November was up 20.9% compared to the same period the previous year.
  • The median listing price was $357,000, a 6% decrease from the prior 12 months.
  • The number of residential properties for sale was a 46% decrease from the previous year.
  • Homes spent a median of 37 days on the market before an offer was accepted, which was a decrease of 16 days.
  • See Springfield homes for sale
Eugene home

2551 Garfield St. in Eugene is listed at $459,900, close to Eugene’s median listing price of $460,000.Joshua Cooley/Keller Williams Realty Eugene and Springfield

  • The median price per square foot of $246 in November was up 15% compared to the same period the previous year.
  • The median listing price was $460,000, a 12.2% increase from the prior 12 months.
  • The number of residential properties for sale was a 31% decrease from the previous year.
  • Homes spent a median of 58 days on the market before an offer was accepted, which was an increase of six days.
  • See Eugene homes for sale
Hillsboro

7012 SE Genrosa St. in Hillsboro is listed at $493,767, close to Hillsboro’s median listing price of $493,000.Joe Buffington/Weekley Homes

  • The median price per square foot of $248 in November was up 8.5% compared to the same period the previous year.
  • The median listing price was $493,000, a 15.9% increase from the prior 12 months.
  • The number of residential properties for sale was a 56% decrease from the previous year.
  • Homes spent a median of 45 days on the market before an offer was accepted, which was a decrease of seven days.
  • See Hillsboro homes for sale
Portland home

16772 N.W. Countryridge Dr. in Portland’s Bethany neighborhood is listed at $530,000, which is Portland’s median listing price.Ryan DeJong of Genesis Realty

  • The median price per square foot of $261 in November was up 11.6% compared to the same period the previous year.
  • The median listing price was $530,000, an 11.6% increase from the prior 12 months.
  • The number of residential properties for sale was a 29% decrease from the previous year.
  • Homes spent a median of 48 days on the market before an offer was accepted, which was a decrease of nine days.
  • See Portland homes for sale
Bend house

61601 Gribbling Road in Bend is listed at $729,900, close to Bend’s median listing price of $730,000.Stephen Payer/Coldwell Banker Bain of Bend

  • The median price per square foot of $317 in November was up 19.1% compared to the same period the previous year.
  • The median listing price was $730,000, a 28% increase from the prior 12 months.
  • The number of residential properties for sale was a 72% decrease from the previous year.
  • Homes spent a median of 57 days on the market before an offer was accepted, which was a decrease of 42 days.
  • See Bend homes for sale

— Janet Eastman | 503-294-4072

[email protected] | @janeteastman

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