Real Estate Investing in Irrigon, Oregon (97844)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 97844 (Irrigon, 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: 8.7% vacancy may signal weakening demand.
- High price-to-rent: Price-to-rent ratio 29.2 — hard to cash-flow at these prices.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Irrigon, OR (97844)?
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Market Analysis: 97844 Irrigon
Investors eyeing 97844 need to respect the fundamentals at play. Home values of $322K come alongside slower price movement and elevated management overhead.
In practical terms, the numbers look inviting — $322K purchase price, 0.0% nominal cap — the work to hit that pro forma in 97844 is substantial and deserves full respect.
Nearby ZIPs in Irrigon have seen price recovery that 97844 has not matched. Morrow County data supports the view that the spread is structural rather than temporary.
Resident income in 97844 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
Strategically, 97844 can be a high-return sleeve of a diversified portfolio — but it should not be the whole portfolio, and it should not be someone's first deal.
Here's what matters if you're considering buying a home in Irrigon:
Market Trends
Home Value History (with trend line)
📊 How Does 97844 Compare?
| Metric | 97844 | Irrigon | Hermiston-Pendleton, OR | Oregon |
|---|---|---|---|---|
| Home Value | $321,947 | $321,947 | N/A | $493,884 |
| 5-Year CAGR | 4.8% | 4.8% | N/A | 4.9% |
| Avg Rent | $918 | $918 | N/A | - |
| Cap Rate | 2.2% | 2.2% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 97844 (Irrigon, OR). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $321,947 |
| Monthly Rent | $918 |
| Price-to-Rent | 29.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.4% |
| Cap Rate | 2.2% |
| 5-Year IRR | 7.0% |
📈 Home Appreciation
| 1-Year | +2.9% ▲ |
| 3-Year CAGR | +3.0% ▲ |
| 5-Year CAGR | +4.8% ▲ |
| 10-Year CAGR | +9.1% ▲ |
🏠 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 (2.2%). 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 97844
Population: 3,569
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 97844
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 much should I expect to pay for a home in Irrigon, OR?
Irrigon, OR home values average about $322K. That price point suits investors targeting rentals with $918/mo in monthly income.
Is Irrigon, OR good for landlords?
Rental owners in Irrigon, OR deal with a landlord-friendly legal framework. Most standard eviction processes run on reasonable timelines.
Are tenants stable in Irrigon, OR?
The tenant pool in Irrigon, OR is solid, supported by local employment and population fundamentals. Rents of $918/mo are well-absorbed by the market.
Is vacancy a concern in Irrigon, OR?
Irrigon, OR vacancy trends elevated. Investors running standard buy-and-hold plays see reasonable downtime between tenants.
Where do rents currently stand in Irrigon, OR?
Expect rents around $918/mo per month in Irrigon, OR. With home values at $322K, the yield math works out to reasonable levels for rental investors.
You know 97844 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 97844 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 97844 ranks in Hermiston-Pendleton, OR
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