Real Estate Investing in Falls City, Oregon (97344)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 97344 (Falls City, OR)? Our answer, based on the numbers below.
Mixed — home prices are stretched relative to local incomes. Run the math on your specific situation.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
No major risk flags on the data we track.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Falls City, OR (97344)?
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Market Analysis: 97344 Falls City
Investors eyeing 97344 need to respect the fundamentals at play. Home values of $364K come alongside slower price movement and elevated management overhead.
Distressed markets are won on execution, not on spreadsheets. ZIP 97344 posts the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
Within OR, ZIP 97344 trails on several market indicators that neighboring Polk County submarkets outperform. The gap is real and impressive enough to shape underwriting.
On balance, 1,464 residents fill the ZIP, renter turnover runs higher than neighboring postal codes and delinquency risk is a real line item rather than a theoretical one.
leans the ZIP is not uninvestable, but it is unforgiving. Section 8 landlords, local operators, and specialized value-add funds are the investor types that tend to succeed.
Here's what matters if you're considering buying a home in Falls City:
Property Strategy for 97344
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $310,925 | $1,400 | 3.2% | +7.6% | $155,463 |
| 3BR | $370,728 | $1,940 | 3.8% | +7.9% | $123,576 |
Market Trends
Home Value History (with trend line)
📊 How Does 97344 Compare?
| Metric | 97344 | Falls City | Salem, OR | Oregon |
|---|---|---|---|---|
| Home Value | $364,368 | $364,368 | N/A | $493,884 |
| 5-Year CAGR | 4.2% | 4.2% | N/A | 4.9% |
| Avg Rent | $1,260 | $1,260 | N/A | - |
| Cap Rate | 2.7% | 2.7% | - | - |
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 97344 (Falls City, OR). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $364,368 |
| Monthly Rent | $1,260 |
| Price-to-Rent | 24.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.2% |
| Cap Rate | 2.7% |
| 5-Year IRR | 6.9% |
📈 Home Appreciation
| 1-Year | +3.2% ▲ |
| 3-Year CAGR | +2.3% ▲ |
| 5-Year CAGR | +4.2% ▲ |
| 10-Year CAGR | +8.5% ▲ |
🏠 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 (2.7%). 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 97344
Population: 1,464
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 97344
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
Does Falls City, OR favor landlords or tenants?
Landlord-friendliness in Falls City, OR is landlord-friendly. Eviction timelines and lease enforcement are considered reasonable by most property managers.
Are rents high in Falls City, OR?
Expect rents around $1,260/mo per month in Falls City, OR. With home values at $364K, the yield math works out to reasonable levels for rental investors.
How strong is the working-renter base in Falls City, OR?
Expect a solid tenant pool in Falls City, OR. The rental market absorbs $1,260/mo rents without meaningful friction.
Should investors consider Falls City, OR?
Falls City, OR scores 3.0/5 for investability. Home values sit at $364K and rents near $1,260/mo, which keeps the rent-to-price ratio in reasonable territory for buy-and-hold investors.
Is housing expensive in Falls City, OR?
The median home value in Falls City, OR is roughly $364K. That puts it reasonable relative to the OR statewide average.
You know 97344 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 97344 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 97344 ranks in Salem, OR
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Community Ratings
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