Real Estate Investing in Elgin, Oregon (97827)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 97827 (Elgin, 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.
- High vacancy: 14.8% of homes vacant — above national norms.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Elgin, OR (97827)?
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Market Analysis: 97827 Elgin
Not every below-median market is a bargain. Elgin's 97827 ZIP reflects signals that favor experienced operators who can absorb the risk $277K pricing implies.
For an experienced owner, 97827 can be a a strong candidate for hunting ground — but the discount at $277K reflects genuine risk that outside investors often underestimate.
Regionally, 97827 sits on the difficult end of the OR spectrum. The worth a close look for read — for disciplined operators — is that pricing reflects the difficulty.
Employment concentration in 97827 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
The 97827 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 Elgin:
Property Strategy for 97827
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $209,266 | $1,250 | 4.3% | — | $104,633 |
| 3BR | $269,055 | $1,740 | 4.7% | +8.9% | $89,685 |
Market Trends
Home Value History (with trend line)
📊 How Does 97827 Compare?
| Metric | 97827 | Elgin | La Grande, OR | Oregon |
|---|---|---|---|---|
| Home Value | $277,010 | $277,010 | N/A | $493,884 |
| 5-Year CAGR | 7.2% | 7.2% | N/A | 4.9% |
| Avg Rent | $1,125 | $1,125 | N/A | - |
| Cap Rate | 3.2% | 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 97827 (Elgin, OR). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $277,010 |
| Monthly Rent | $1,125 |
| Price-to-Rent | 20.5:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.9% |
| Cap Rate | 3.2% |
| 5-Year IRR | 10.4% |
📈 Home Appreciation
| 1-Year | +7.3% ▲ |
| 3-Year CAGR | +6.6% ▲ |
| 5-Year CAGR | +7.2% ▲ |
| 10-Year CAGR | +7.7% ▲ |
🏠 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 (3.2%). 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 97827
Population: 2,557
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 97827
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.
Frequently Asked Questions
How does Elgin, OR rate as a rental market?
Elgin, OR scores 3.0/5 for investability. Home values sit at $277K and rents near $1,125/mo, which keeps the rent-to-price ratio in reasonable territory for buy-and-hold investors.
What monthly rent should investors expect in Elgin, OR?
Rental rates in Elgin, OR average $1,125/mo. Tenant demand and $277K home values make the yield look reasonable by investor standards.
Is Elgin, OR suited for a house hack?
For house hackers, Elgin, OR is a challenging. The $1,125/mo rent on a unit helps defray the mortgage on a $277K property.
How much should I expect to pay for a home in Elgin, OR?
Typical homes in Elgin, OR go for around $277K. The 5-year CAGR of 0.0% predictable price movement.
What strategy should investors use in Elgin, OR?
Investors usually favor careful cash-flow rentals with hands-on management in Elgin, OR. With home values at $277K and rents near $1,125/mo, other strategies can work but produce stable rather than outsized returns.
You know 97827 now. You don’t know where it ranks.
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How 97827 ranks in La Grande, OR
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