Real Estate Investing in Union, Oregon (97883)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 97883 (Union, 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.
- Elevated vacancy: 10.0% vacancy may signal weakening demand.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Union, OR (97883)?
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Market Analysis: 97883 Union
ZIP 97883 in Union, OR carries a notable set of headwinds. Home values near $305K and rents of $1,062/mo sit inside a market where underwriting has to be tight.
For an experienced owner, 97883 can be a a credible choice for hunting ground — but the discount at $305K reflects genuine risk that outside investors often underestimate.
Meanwhile, 97883 offers a low basis, the region around Union has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
The 97883 ZIP's population of 2,634 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that shows the need for careful underwriting.
The right play in 97883 usually involves deep tenant screening, aggressive delinquency response, and a conservative capex buffer. Anything less, and the discount can turn into a trap.
Here's what matters if you're considering buying a home in Union:
Property Strategy for 97883
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $218,151 | $1,180 | 3.9% | +8.3% | $109,076 |
| 3BR | $303,531 | $1,640 | 3.9% | +8.5% | $101,177 |
Market Trends
Home Value History (with trend line)
📊 How Does 97883 Compare?
| Metric | 97883 | Union | La Grande, OR | Oregon |
|---|---|---|---|---|
| Home Value | $305,232 | $305,232 | N/A | $493,884 |
| 5-Year CAGR | 6.3% | 6.3% | N/A | 4.9% |
| Avg Rent | $1,062 | $1,062 | N/A | - |
| Cap Rate | 2.7% | 2.7% | - | - |
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 97883 (Union, OR). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $305,232 |
| Monthly Rent | $1,062 |
| Price-to-Rent | 24.0:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.2% |
| Cap Rate | 2.7% |
| 5-Year IRR | 9.0% |
📈 Home Appreciation
| 1-Year | +6.1% ▲ |
| 3-Year CAGR | +4.9% ▲ |
| 5-Year CAGR | +6.3% ▲ |
| 10-Year CAGR | +7.6% ▲ |
🏠 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 97883
Population: 2,634
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 97883
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 do landlords charge for rent in Union, OR?
Investors in Union, OR typically see rents near $1,062/mo per month against $305K home values - a solid setup for rental cash flow.
Is OR a landlord-friendly state?
OR law landlord-friendly for landlords, and Union inherits those rules. Investors should still review local ordinances for rental licensing.
How much should I expect to pay for a home in Union, OR?
Union, OR median home values land near $305K. That is reasonable territory for investors looking at $1,062/mo-per-month rentals.
Is Union, OR a smart market for rental property?
Union, OR registers an investability rating of 3.0/5, with median home values near $305K and average rents around $1,062/mo. That combination puts it in the durable tier for investor interest.
Are renters plentiful in Union, OR?
The tenant pool in Union, OR is solid, supported by local employment and population fundamentals. Rents of $1,062/mo are well-absorbed by the market.
You know 97883 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 97883 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 97883 ranks in La Grande, OR
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