Real Estate Investing in Seaside, Oregon (97138)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 97138 (Seaside, OR)? Our answer, based on the numbers below.
Multiple negative signals. Better options likely exist nearby.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 31.3% of homes vacant — above national norms.
- High price-to-rent: Price-to-rent ratio 25.6 — hard to cash-flow at these prices.
What’s happening in Seaside, OR (97138)?
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Market Analysis: 97138 Seaside
ZIP 97138 in Seaside, OR carries a durable set of headwinds. Home values near $507K and rents of $1,653/mo sit inside a market where underwriting has to be tight.
The 97138 ZIP can work — but only with a tight operating hand. Remote landlords and passive investors tend to struggle here more than the underwriting suggests.
ZIP 97138'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.
Employment concentration in 97138 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
New investors are better served looking at Seaside's stable or hybrid ZIPs before stepping into 97138. The learning curve here is expensive when the lesson is wrong.
Here's what matters if you're considering buying a home in Seaside:
Property Strategy for 97138
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $296,774 | $990 | 2.4% | +8.2% | $296,774 |
| 2BR | $427,112 | $1,300 | 2.2% | +7.4% | $213,556 |
| 3BR | $554,876 | $1,780 | 2.3% | +7.5% | $184,959 |
| 4BR | $696,103 | $2,180 | 2.3% | +8.1% | $174,026 |
| 5BR | $856,268 | — | — | +8.7% | $171,254 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 97138 Compare?
| Metric | 97138 | Seaside | Oregon |
|---|---|---|---|
| Home Value | $507,020 | $507,020 | $493,884 |
| 5-Year CAGR | 3.2% | 3.2% | 4.9% |
| Avg Rent | $1,653 | $1,653 | - |
| Cap Rate | 2.5% | 2.5% | - |
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 97138 (Seaside, OR). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $507,020 |
| Monthly Rent | $1,653 |
| Price-to-Rent | 25.6:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.9% |
| Cap Rate | 2.5% |
| 5-Year IRR | 5.7% |
📈 Home Appreciation
| 1-Year | +0.4% ▲ |
| 3-Year CAGR | -0.8% ▼ |
| 5-Year CAGR | +3.2% ▲ |
| 10-Year CAGR | +6.1% ▲ |
🏠 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 (2.5%). 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 97138
Population: 11,724
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
🎓 Schools in 97138
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Frequently Asked Questions
Is Seaside, OR better for rentals, flips, or BRRRR?
Investors who focus on careful cash-flow rentals with hands-on management typically do well in Seaside, OR. The numbers - $507K homes against $1,653/mo rents - support that play.
Are landlord laws favorable in Seaside, OR?
Seaside, OR falls under OR landlord-tenant law, which is landlord-friendly. That backdrop makes day-to-day property management reasonable.
What is the typical vacancy rate in Seaside, OR?
Expect elevated vacancy in Seaside, OR. Rents at $1,653/mo are absorbed by the tenant base without meaningful lag.
Is Seaside, OR suited for a house hack?
House hacking in Seaside, OR is reasonable to execute. Prices around $507K and rents of $1,653/mo solid owner-occupant economics.
Are renters plentiful in Seaside, OR?
Expect a solid tenant pool in Seaside, OR. The rental market absorbs $1,653/mo rents without meaningful friction.
You know 97138 now. You don’t know where it ranks.
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