Real Estate Investing in Klamath Falls, Oregon (97633)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 97633 (Klamath Falls, 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 Klamath Falls, OR (97633)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 97633 Klamath Falls
This part of Klamath County is not an easy win. The 97633 ZIP reports softness in key indicators, and the playbook that works in cleaner markets often stalls here.
Rent of $999/mo on a $287K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 97633 sits below the stated 0.0% once reality is priced in.
ZIP 97633's metrics run below Klamath County's averages on price growth and tenant stability. Investors who ignore that regional gap tend to relearn it the hard way.
Resident income in 97633 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
New investors are better served looking at Klamath Falls's stable or hybrid ZIPs before stepping into 97633. The learning curve here is expensive when the lesson is wrong.
Here's what matters if you're considering buying a home in Klamath Falls:
Property Strategy for 97633
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $182,468 | $1,110 | 4.4% | +8.1% | $91,234 |
| 3BR | $285,485 | $1,540 | 3.9% | +8.0% | $95,162 |
Market Trends
Home Value History (with trend line)
📊 How Does 97633 Compare?
| Metric | 97633 | Klamath Falls | Klamath Falls, OR | Oregon |
|---|---|---|---|---|
| Home Value | $287,146 | $297,187 | N/A | $493,884 |
| 5-Year CAGR | 4.6% | 4.8% | N/A | 4.9% |
| Avg Rent | $999 | $1,205 | N/A | - |
| Cap Rate | 2.7% | 3.2% | - | - |
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 97633 (Klamath Falls, OR). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $287,146 |
| Monthly Rent | $999 |
| Price-to-Rent | 24.0:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.2% |
| Cap Rate | 2.7% |
| 5-Year IRR | 7.3% |
📈 Home Appreciation
| 1-Year | +6.2% ▲ |
| 3-Year CAGR | +3.7% ▲ |
| 5-Year CAGR | +4.6% ▲ |
| 10-Year CAGR | +7.8% ▲ |
🏠 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 97633
Population: 1,456
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 97633
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 766 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What is the typical home price in Klamath Falls, OR?
Homes in Klamath Falls, OR typically sell near $287K. Prices have moved at a 0.0% 5-year CAGR, which steady long-term demand.
Is Klamath Falls, OR a good place for real estate investing?
Klamath Falls, OR reflects an investability rating of 3.0/5, with median home values near $287K and average rents around $999/mo. That combination puts it in the notable tier for investor interest.
Is the tenant base reliable in Klamath Falls, OR?
Tenant demand in Klamath Falls, OR is solid. The local workforce $999/mo rents across most rental classes.
How do landlord-tenant laws work in Klamath Falls, OR?
OR law landlord-friendly for landlords, and Klamath Falls inherits those rules. Investors should still review local ordinances for rental licensing.
Are there empty rentals in Klamath Falls, OR?
Vacancy in Klamath Falls, OR is elevated, which keeps landlord downtime on reasonable timelines. Most properties lease within the standard window at $999/mo.
You know 97633 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 97633 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 97633 ranks in Klamath Falls, OR
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