Real Estate Investing in Klamath Falls, Oregon

Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.

3 ZIP codes • Population: 56,419 • Klamath County

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Should you buy in Klamath Falls, OR? Our answer, based on the numbers below.

🏠 For Homebuyers
MIXED
Grade C (58/100)

Mixed — home prices are stretched relative to local incomes. Run the math on your specific situation.

📈 For Investors
MIXED
3.0 / 5 (47/100)

A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.

⚠️ Risks to Know
1 flag
  • Elevated vacancy: 9.0% vacancy may signal weakening demand.

What’s happening in Klamath Falls, OR?

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3.0/ 5

Investability

Citywide average

3.0/ 5

Appreciation

4.8% 5yr CAGR

4.0/ 5

Landlord Climate

Regulatory friendliness

🏦 30-yr Fixed Rate: 6.76% as of Sep 10 Source: Freddie Mac PMMS
Avg Investability
Avg Home Value $297,187
Avg Monthly Rent $1,205
ZIP Codes 3

Investing in Klamath Falls Real Estate

Klamath Falls (Oregon) spans 3 ZIPs and roughly a sizable population. plainly the fundamentals here skew distressed, with soft rents, soft appreciation, and structural headwinds worth respecting.

The investment case for Klamath Falls is difficult to make on screen data alone. a challenging fit for a 3.0 rating and a cap rate of 0.0% that looks fine only until you underwrite the vacancy.

Market conditions in Klamath Falls are lackluster. Days-on-market has stretched, rent growth has stalled, and the 0.0% 5-year CAGR understates how uneven the underlying ZIPs really are.

Population dynamics in Klamath Falls haven't been supportive. a harder case for combined with modest income growth, the demographic backdrop complicates any purely financial underwriting.

A great house in the wrong ZIP is still a bad deal — screen every market by cash flow & cap rate.
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Best ZIP codes in Klamath Falls, OR

Klamath Falls is part of this metro. Every ZIP in it, ranked. Free.

Cash Flow → Appreciation → Affordable →

Landlord Ground Truth

Real numbers from people who own or manage rentals in Klamath Falls, OR. Anonymous, moderated, never written by AI.

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Avg Home Value
$297,187
Avg Monthly Rent
$1,205
1% Rule
✗ Below
Landlord Friendly (OR)

📉 Market Crash Risk Index

Based on Klamath Falls, OR metro

2/10
Low Risk
Price YoY
0/3
N/A
Rent YoY
0/2
N/A
Below List
2/3
61%
Days Pending
0/2
0 days

View all metro crash risk rankings →

☀️ Warm Market — Klamath Falls, OR metro
0
Days to pending
8.1%
Listings with price cuts
0.0%
Sale-to-list ratio
📅 Data as of August 29, 2026 — updated weekly

🎓 Colleges & Universities in Klamath Falls

2 Colleges 7,039 Students 1,398 Off-Campus Renters
C+
Oregon Institute of Technology
4-Year Public · 5,103 students
📍 ~632 students rent off-campus
C
Klamath Community College
2-Year Public · 1,936 students
📍 ~766 students rent off-campus

Investor Insight: With 1,398 students living off-campus, Klamath Falls has substantial rental demand from the college population — typically stable, lease-renewing tenants.

ZIP Codes in Klamath Falls, OR

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Filter Klamath Falls’s ZIPs by cap rate, vacancy, appreciation and 30+ more criteria, and export your shortlist to CSV — with the Investor plan ($19/mo).

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Frequently Asked Questions About Klamath Falls, OR

How expensive is real estate in Klamath Falls, OR?

Median home price in Klamath Falls, OR is near $297K, with a 5-year CAGR of 0.0%. Prices have been even-keeled and supportive of buy-and-hold strategies.

What is the typical renter like in Klamath Falls, OR?

Tenant quality in Klamath Falls, OR ranks as solid. Landlords generally report stable occupancy at market rents of $1,205/mo.

What is the rental occupancy rate in Klamath Falls, OR?

Klamath Falls, OR vacancy trends elevated. Investors running standard buy-and-hold plays see reasonable downtime between tenants.

How much rent can I charge in Klamath Falls, OR?

Klamath Falls, OR rentals go for roughly $1,205/mo a month. That puts gross yield in solid territory relative to $297K acquisition costs.

Are landlord laws favorable in Klamath Falls, OR?

Rental owners in Klamath Falls, OR deal with a landlord-friendly legal framework. Most standard eviction processes run on reasonable timelines.

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