Real Estate Investing in Philomath, Oregon (97370)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 97370 (Philomath, 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.
What’s happening in Philomath, OR (97370)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 97370 Philomath
From an investor standpoint, ZIP 97370 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $531K median. It rewards specialists, not generalists.
For an experienced owner, 97370 can be a a strong candidate for hunting ground — but the discount at $531K reflects genuine risk that outside investors often underestimate.
Within OR, ZIP 97370 trails on several market indicators that neighboring Benton County submarkets outperform. The gap is real and sturdy enough to shape underwriting.
The 97370 ZIP's population of 9,443 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that shows the need for careful underwriting.
Experienced landlords with local relationships tend to find 97370 workable. Turnkey investors from out of state usually find the numbers do not hold up in practice.
Here's what matters if you're considering buying a home in Philomath:
Property Strategy for 97370
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $375,149 | $1,590 | 3.1% | +5.0% | $187,574 |
| 3BR | $495,513 | $2,210 | 3.2% | +6.3% | $165,171 |
| 4BR | $597,674 | $2,490 | 3.0% | +6.7% | $149,419 |
| 5BR | $682,065 | — | — | +7.3% | $136,413 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 97370 Compare?
| Metric | 97370 | Philomath | Corvallis, OR | Oregon |
|---|---|---|---|---|
| Home Value | $530,648 | $530,648 | N/A | $493,884 |
| 5-Year CAGR | 3.9% | 3.9% | N/A | 4.9% |
| Avg Rent | $1,876 | $1,876 | N/A | - |
| Cap Rate | 2.8% | 2.8% | - | - |
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 97370 (Philomath, OR). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $530,648 |
| Monthly Rent | $1,876 |
| Price-to-Rent | 23.6:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.2% |
| Cap Rate | 2.8% |
| 5-Year IRR | 6.6% |
📈 Home Appreciation
| 1-Year | +1.8% ▲ |
| 3-Year CAGR | +1.2% ▲ |
| 5-Year CAGR | +3.9% ▲ |
| 10-Year CAGR | +6.4% ▲ |
🏠 Rent Trends
| 1-Year | -11.6% ▼ |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.8%). 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 97370
Population: 9,443
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 97370
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
Investor Insight: With 890 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Are rents high in Philomath, OR?
Rents in Philomath, OR run near $1,876/mo. Compared with median home prices of $531K that produces solid gross yields for typical rentals.
How high is vacancy risk in Philomath, OR?
Vacancy risk in Philomath, OR is elevated. That supports measured cash flow for typical rental holds.
Does Philomath, OR make sense for an investment property?
With a 3.0/5 investability score, Philomath, OR ranks as a solid market for rental property investors. Median prices of $531K and rents of $1,876/mo drive the underlying numbers.
What does house hacking look like in Philomath, OR?
The a challenging house-hack environment in Philomath, OR reflects the rent-to-price spread. Expect meaningful PITI offset at market rents.
How should investors approach Philomath, OR?
In Philomath, OR the sturdy play is typically careful cash-flow rentals with hands-on management. The combination of $531K prices and $1,876/mo rents suits that approach.
You know 97370 now. You don’t know where it ranks.
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How 97370 ranks in Corvallis, OR
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