Demographic Statistics 2023 for Bend, Oregon

Bend, Oregon is a beautiful and growing city that is attracting a lot of attention from real estate investors. According to demographic statistics projected for 2023, the population of Bend is expected to reach over 120,000, which is a significant increase from the current population of just under 100,000.

Real Estate News

The real estate market in Bend is currently experiencing a strong seller's market due to low inventory and high demand. According to Zillow, the median home value in Bend is $648,000, with the average price per square foot at $310. This is a 19.4% increase from last year. The strong demand for housing in Bend is driven by a combination of factors, including the city's growing population, its desirable location in Central Oregon, and its abundance of outdoor recreational opportunities.

Market Update

Despite the high demand for housing, there are still many opportunities for real estate investors to take advantage of in Bend. The city's growing population means that there will continue to be a need for both rental properties and new homes for sale. Investors who are looking for rental properties can expect to see strong rental rates and low vacancy rates in Bend. According to RentCafe, the average rent in Bend is $1,559 per month, which is a 9% increase from the previous year.

Investing

For investors who are interested in purchasing property in Bend, there are many different options available. Single-family homes are a popular choice, as they offer the potential for both rental income and appreciation in value. Another option is to invest in multi-family properties, which can provide a steady stream of rental income. Commercial properties, such as retail or office buildings, are also worth considering, especially in the downtown area where demand is high.

In conclusion, Bend, Oregon is a growing city that offers many opportunities for real estate investors. With a growing population, a desirable location, and an abundance of outdoor recreational opportunities, Bend is a great place to invest in real estate. Whether you are interested in rental properties, new homes for sale, or commercial properties, there are many options available that offer the potential for strong returns.