Real Estate Investing in Pilot Rock, Oregon (97868)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 97868 (Pilot Rock, OR)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 13.7% 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 Pilot Rock, OR (97868)?
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Market Analysis: 97868 Pilot Rock
Not every below-median market is a bargain. Pilot Rock's 97868 ZIP reports signals that favor experienced operators who can absorb the risk $248K pricing implies.
The investment case in 97868 is impressive only for operators who understand what they are buying. A $248K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
Within OR, ZIP 97868 trails on several market indicators that neighboring Umatilla County submarkets outperform. The gap is real and sturdy enough to shape underwriting.
A substantial renter share of 15% in 97868 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
Strategy in 97868 is an operator game, not a passive one. Looking more closely, entry prices of $248K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Pilot Rock:
Property Strategy for 97868
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $185,753 | $1,240 | 4.8% | +8.3% | $92,877 |
| 3BR | $240,901 | $1,720 | 5.1% | +7.6% | $80,300 |
Market Trends
Home Value History (with trend line)
📊 How Does 97868 Compare?
| Metric | 97868 | Pilot Rock | Hermiston-Pendleton, OR | Oregon |
|---|---|---|---|---|
| Home Value | $248,323 | $248,323 | N/A | $493,884 |
| 5-Year CAGR | 5.6% | 5.6% | N/A | 4.9% |
| Avg Rent | $1,116 | $1,116 | N/A | - |
| Cap Rate | 3.5% | 3.5% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 97868 (Pilot Rock, OR). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $248,323 |
| Monthly Rent | $1,116 |
| Price-to-Rent | 18.5:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.4% |
| Cap Rate | 3.5% |
| 5-Year IRR | 9.1% |
📈 Home Appreciation
| 1-Year | +5.8% ▲ |
| 3-Year CAGR | +3.5% ▲ |
| 5-Year CAGR | +5.6% ▲ |
| 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 (3.5%). 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 97868
Population: 1,531
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 97868
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
What price range are homes in Pilot Rock, OR?
Median home price in Pilot Rock, OR is near $248K, with a 5-year CAGR of 0.0%. Prices have been even-keeled and supportive of buy-and-hold strategies.
How deep is the rental pool in Pilot Rock, OR?
Expect a solid tenant pool in Pilot Rock, OR. The rental market absorbs $1,116/mo rents without meaningful friction.
Is Pilot Rock, OR suited for a house hack?
The a challenging house-hack environment in Pilot Rock, OR reflects the rent-to-price spread. Expect meaningful PITI offset at market rents.
How much rent can I charge in Pilot Rock, OR?
Pilot Rock, OR rentals go for roughly $1,116/mo a month. That puts gross yield in solid territory relative to $248K acquisition costs.
Is Pilot Rock, OR good for landlords?
For rental operators, Pilot Rock, OR rates as landlord-friendly. The regulatory environment standard buy-and-hold operations.
You know 97868 now. You don’t know where it ranks.
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How 97868 ranks in Hermiston-Pendleton, OR
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