Real Estate Investing in Lincoln City, Oregon (97388)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 97388 (Lincoln City, OR)? Our answer, based on the numbers below.
Multiple negative signals. Better options likely exist nearby.
Structural challenges here. The numbers may look cheap but operational risk is high. Only for experienced, hands-on investors.
- High vacancy: 59.2% of homes vacant — above national norms.
- High price-to-rent: Price-to-rent ratio 36.2 — hard to cash-flow at these prices.
• Limited market data — this is a very small market; averages are built from few observations and can swing widely. • Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Lincoln City, OR (97388)?
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Market Analysis: 97388 Lincoln City
The 97388 ZIP in Lincoln City, OR is a local-operator market. Outside capital chasing a $629K entry has to pair deep knowledge with the discount.
Distressed markets are won on execution, not on spreadsheets. ZIP 97388 shows the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
Within OR, ZIP 97388 trails on several market indicators that neighboring Lincoln County submarkets outperform. The gap is real and impressive enough to shape underwriting.
Put differently, 954 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.
The 97388 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 Lincoln City:
Property Strategy for 97388
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $478,445 | $1,610 | 2.4% | +7.2% | $239,223 |
| 3BR | $672,905 | $2,220 | 2.4% | +7.5% | $224,302 |
| 4BR | $790,832 | $2,700 | 2.5% | +6.7% | $197,708 |
Market Trends
Home Value History (with trend line)
📊 How Does 97388 Compare?
| Metric | 97388 | Lincoln City | Newport, OR | Oregon |
|---|---|---|---|---|
| Home Value | $629,332 | $558,148 | N/A | $493,884 |
| 5-Year CAGR | 3.3% | 3.6% | N/A | 4.9% |
| Avg Rent | $1,449 | $1,720 | N/A | - |
| Cap Rate | 1.8% | 2.5% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 97388 (Lincoln City, OR). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $629,332 |
| Monthly Rent | $1,449 |
| Price-to-Rent | 36.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 2.8% |
| Cap Rate | 1.8% |
| 5-Year IRR | 5.1% |
📈 Home Appreciation
| 1-Year | +3.9% ▲ |
| 3-Year CAGR | +0.8% ▲ |
| 5-Year CAGR | +3.3% ▲ |
| 10-Year CAGR | +6.7% ▲ |
🏠 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 (1.8%). 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 97388
Population: 954
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
Frequently Asked Questions
What are rental rates like in Lincoln City, OR?
Rental rates in Lincoln City, OR average $1,449/mo. Tenant demand and $629K home values make the yield look reasonable by investor standards.
How do experienced investors play Lincoln City, OR?
The best-fit strategy in Lincoln City, OR is careful cash-flow rentals with hands-on management. That approach the rent and price profile of the market.
Should investors worry about vacancy in Lincoln City, OR?
Lincoln City, OR sees elevated vacancy, which is reasonable relative to the broader OR rental market.
Is rental property easy to operate in Lincoln City, OR?
Landlord-friendliness in Lincoln City, OR is landlord-friendly. Eviction timelines and lease enforcement are considered reasonable by most property managers.
Is real estate in Lincoln City, OR a good investment right now?
Lincoln City, OR scores 2.0/5 for investability. Home values sit at $629K and rents near $1,449/mo, which keeps the rent-to-price ratio in reasonable territory for buy-and-hold investors.
You know 97388 now. You don’t know where it ranks.
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How 97388 ranks in Newport, OR
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