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Forest Grove city, OR

ZIP 97116 — Housing & Real Estate

Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.

Middle ClassLow Snow Area

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 97116

Median Home Value
$479,800
Median Rent
$1,322
Affordability Snapshot
$132,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$3,082/mo PITI).

18%
Rent-to-Income Ratio

Below the 30% threshold — generally affordable for median earners.

5.5x
Home Price-to-Income Ratio

Well above the 3-5x guideline — challenging for first-time buyers.

30.2 yrs
Price-to-Rent Ratio

Years to break even buying vs renting at median home value and rent.

To comfortably buy a median-priced home in ZIP 97116 in Forest Grove city, OR, a household would need roughly $132,000 in annual income under a 20% down, 30-year loan at 6.8% (illustrative), keeping housing costs near 28% of income. Estimated monthly PITI is about $3,082. That is about 51% above the local median household income ($87,308), so the median earner would likely stretch or need a larger down payment. Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Owner-occupied majority; balanced tenure mix.

Heating Fuel
Housing Metrics
Owner Occupied
64.8%-1% vs US avg
x
Vacancy Rate
3.0%-70% vs US avg
x
Broadband Access
87.0%+0% vs US avg
x
4+ Bedrooms
5.6%-62% vs US avg
x
Built Pre-1939
5.1%-60% vs US avg
x
Built Post-2014
2.1%-69% vs US avg
x
Rent Burden >30%
31.6%-36% vs US avg
x
Mortgage-Free
32.0%-16% vs US avg
x
$479,800
Home Value
$1,322
Rent
1981
Year Built
2015
Moved In

Residents have lived here since ~2015 on average

Housing Structure

Census ACS structure types (single-family, multi-unit, etc.).

  • 1-unit detached61.8%
  • 1-unit attached4.1%
  • 2-9 units14.3%
  • 10+ units12.6%
  • Mobile home & other7.3%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$479,800
Median rent$1,322
Owner-occupied64.8%
Vacant3.0%
Price-to-income5.5x
Est. income to buy$132,000