Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 26,784 people, 9,103 houses or apartments, and a median cost of homes of $497,475, Forest Grove real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Forest Grove, accounting for 58.85% of the city's housing units. Other types of housing that are prevalent in Forest Grove include large apartment complexes or high rise apartments ( 19.69%), duplexes, homes converted to apartments or other small apartment buildings ( 10.72%), and a few mobile homes or trailers ( 6.55%).
The most prevalent building size and type in Forest Grove are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 59.40% owning and 40.60% renting.
There is a lot of housing in Forest Grove built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Forest Grove built between 2000 and later ( 26.98%). A lesser amount of the housing stock also hails from between 1940-1969 ( 21.27%). There's also some housing in Forest Grove built before 1939 ( 10.33%).
In the last 10 years, Forest Grove has experienced some of the highest home appreciation rates of any community in the nation. Forest Grove real estate appreciated 122.29% over the last ten years, which is an average annual home appreciation rate of 8.32%, putting Forest Grove in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Forest Grove definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Over the last year, Forest Grove appreciation rates have trailed the rest of the nation. In the last twelve months, Forest Grove's appreciation rate has been 5.36%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Forest Grove were at -1.77%, which equates to an annual appreciation rate of -6.91%.
Notably, Forest Grove's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Oregon, our data show that Forest Grove's latest annual appreciation rate is higher than 70% of the other cities and towns in Oregon.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Forest Grove differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Forest Grove - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Forest Grove real estate investment or home purchase decisions.
$497,475
for Oregon
for nation
9,103
$1,826 / per month