Oregon is a prime destination for anyone who wants to succeed in real estate. As the housing industry recovered after the recession, the state experienced a 3.6% increase in population. Since construction could not keep up with the demand for new homes, the need for rentals has also increased. This has led to an increase in rental rates, which spells good news for investors.
According to the Oregon Office of Economic Analysis, the house industry has been recovering at a rapid pace since 2016. The increase in rents and the demand for rentals will result in assets as more and more Millennials who are tenants start buying their own homes. This demographic makes up most of the renters living in Oregon at the moment.
Oregon is considered to be one of the top relocation destinations in the United States. This is owed to its friendly people, comfortable lifestyle, and pleasant weather the state has to offer. As an investor, some of the best places you can invest in the state include:
Bonanza is small community made up of ranches and small dairy farms. The town has experienced more than a 75% increase in home values in the last decade. Interested buyers can find homes that range from as little as $100 per square foot and a tax rate that amounts to $35 per $1,000.
It is considered to be the best place for buyers in search of properties that promise fast returns. So if you are looking for long term real estate investments, you can give homes in Bonanza a shot.
Considered to be one of the fastest growing cities in the state of Oregon, Hermiston received $260 million in business investments in the past couple of years. The money has gone into making the lives of residents more comfortable.
The city is considered to be a major transportation hub which is largely because it is quite near interstates 82 and 84. The strengthening economy has only improved the housing market in Hermiston, and there has been a 0.8% drop in vacancies in the last 7 years.
Located in Umatilla County, at the bottom of the Blue Mountains, Milton-Freewater is ideal for buyers who want to invest in their own patch of heaven. The housing market is competitive in the city, and with some of the lowest prices per square foot, the location is a haven for investors. However, those low prices are set to increase in the next couple of years which is an indication that investors have already discovered it.
Investors who arrive from other states in the country to Oregon often find that they can afford two homes for the price of one. The reason is that there is no sales tax in the city which makes it a popular destination for long and short-term renters. With an increase in renters, the housing market for investors keeps on improving.
360Training’s Oregon Real Estate Pre-license Courses
As a real estate agent, you would want to pitch properties in Oregon that your clients will appreciate. In order to become an agent in the city, you need to complete over 150 hours of training, and clear the licensing exam. 360Training’s Oregon Real Estate Pre-license Courses are designed to help students pass their pre-licensing exam so that they can enter the field.