Real Estate Investing in Hammond, Oregon (97121)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 97121 (Hammond, OR)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Elevated vacancy: 8.9% vacancy may signal weakening demand.
- High price-to-rent: Price-to-rent ratio 28.3 — hard to cash-flow at these prices.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Hammond, OR (97121)?
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Market Analysis: 97121 Hammond
This part of Clatsop is not an easy win. The 97121 ZIP stands at softness in key indicators, and the playbook that works in cleaner markets often stalls here.
Distressed markets are won on execution, not on spreadsheets. ZIP 97121 posts the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
ZIP 97121's metrics run below Clatsop's averages on price growth and tenant stability. Investors who ignore that regional gap tend to relearn it the hard way.
Resident income in 97121 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
The 97121 ZIP fits a narrow investor profile — hands-on, patient, and willing to accept that the cap rate on paper is not the cap rate in reality.
Here's what matters if you're considering buying a home in Hammond:
Property Strategy for 97121
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $419,361 | $1,580 | 2.7% | +6.8% | $209,680 |
| 3BR | $487,036 | $2,160 | 3.2% | +8.0% | $162,345 |
| 4BR | $560,457 | $2,650 | 3.4% | — | $140,114 |
Market Trends
Home Value History (with trend line)
📊 How Does 97121 Compare?
| Metric | 97121 | Hammond | Oregon |
|---|---|---|---|
| Home Value | $482,037 | $482,037 | $493,884 |
| 5-Year CAGR | 4.1% | 4.1% | 4.9% |
| Avg Rent | $1,422 | $1,422 | - |
| Cap Rate | 2.3% | 2.3% | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 97121 (Hammond, OR). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $482,037 |
| Monthly Rent | $1,422 |
| Price-to-Rent | 28.3:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.5% |
| Cap Rate | 2.3% |
| 5-Year IRR | 6.4% |
📈 Home Appreciation
| 1-Year | +0.4% ▲ |
| 3-Year CAGR | +1.1% ▲ |
| 5-Year CAGR | +4.1% ▲ |
| 10-Year CAGR | +7.2% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.3%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 97121
Population: 1,643
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Nearby Colleges & Universities
Frequently Asked Questions
How expensive is real estate in Hammond, OR?
In Hammond, OR the median home value sits at $482K. Against the broader OR market, that reads as reasonable for most investors.
Are landlord laws favorable in Hammond, OR?
For rental operators, Hammond, OR rates as landlord-friendly. The regulatory environment standard buy-and-hold operations.
Do landlords face vacancy issues in Hammond, OR?
Occupancy in Hammond, OR runs predictable with elevated vacancy. Well-priced units at $1,422/mo lease on reasonable timelines.
Is Hammond, OR a good market for FHA house hackers?
The house hack math a challenging in Hammond, OR. Owner-occupant buyers benefit from the $1,422/mo rents and $482K home values.
How qualified is the tenant pool in Hammond, OR?
Working renters make up the core of the Hammond, OR tenant base. The pool is reasonable for investors targeting long-term holds.
You know 97121 now. You don’t know where it ranks.
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