Real Estate Investing in Eugene, Oregon (97402)
Should you buy in 97402 (Eugene, OR)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
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.
What’s happening in Eugene, OR (97402)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 97402 Eugene
The 97402 ZIP covers a section of Eugene that demands careful diligence. Prices near $405K look accessible, but the work to make a deal cash flow is real.
Rent of $1,790/mo on a $405K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 97402 sits below the stated 0.0% once reality is priced in.
From an investor standpoint, 97402 offers a low basis, the region around Eugene has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
Demographically, 97402 is a market where tenant selection matters more than unit finishes. Operators who understand that tend to do fine; those who do not tend to learn why the ZIP trades at a discount.
Distressed ZIPs reward experience. resilient returns are possible in 97402, but they flow to investors who already understand how to operate in soft markets.
Here's what matters if you're considering buying a home in Eugene:
Property Strategy for 97402
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $283,669 | $1,300 | 3.3% | +4.1% | $283,669 |
| 2BR | $328,655 | $1,710 | 3.7% | +5.4% | $164,327 |
| 3BR | $395,488 | $2,380 | 4.3% | +5.6% | $131,829 |
| 4BR | $457,817 | $2,870 | 4.5% | +5.7% | $114,454 |
| 5BR | $498,001 | — | — | +5.3% | $99,600 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 97402 Compare?
| Metric | 97402 | Eugene | Eugene-Springfield, OR | Oregon |
|---|---|---|---|---|
| Home Value | $405,417 | $524,074 | N/A | $493,884 |
| 5-Year CAGR | 3.7% | 4.1% | N/A | 4.9% |
| Avg Rent | $1,790 | $1,842 | N/A | - |
| Cap Rate | 3.4% | 2.8% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 97402 (Eugene, OR). Anonymous, moderated, never written by AI.
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Property managers serving Lane County
Manage rentals here? List your business →Preferred Northwest Property Management offers comprehensive property management services to make managing properties easy, effortless, and affordable. summary from their website
Trio Property Management Inc. provides property management services in Eugene, Springfield, Veneta, Coburg, Junction City, Creswell, and Elmira, helping owners protect rentals and increase returns. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $405,417 |
| Monthly Rent | $1,790 |
| Price-to-Rent | 18.9:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.3% |
| Cap Rate | 3.4% |
| 5-Year IRR | 7.1% |
📈 Home Appreciation
| 1-Year | +2.3% ▲ |
| 3-Year CAGR | +1.7% ▲ |
| 5-Year CAGR | +3.7% ▲ |
| 10-Year CAGR | +7.2% ▲ |
🏠 Rent Trends
| 1-Year | +0.8% ▲ |
| 3-Year CAGR | +3.9% ▲ |
| 5-Year CAGR | +6.1% ▲ |
The current 30-yr mortgage rate (6.5%) exceeds the estimated cap rate (3.4%). 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 97402
Population: 54,199
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 97402
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 5,790 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How does Eugene, OR stack up for property investment?
The 3.0/5 investability rating in Eugene, OR reflects its $405K prices and $1,790/mo rents. Investors generally consider it a solid option within OR.
Which investment style suits Eugene, OR?
Most investors in Eugene, OR run a careful cash-flow rentals with hands-on management strategy. It aligns with the 3.0/5 investability profile and the market fundamentals.
What do rentals go for in Eugene, OR?
Rents in Eugene, OR run near $1,790/mo. Compared with median home prices of $405K that produces solid gross yields for typical rentals.
What are vacancy rates like in Eugene, OR?
Eugene, OR carries elevated vacancy risk. Expect reliable absorption at market rents of $1,790/mo.
Are eviction rules reasonable in Eugene, OR?
Eugene, OR operates under OR law, which is landlord-friendly overall for landlords. Expect consistent treatment in typical lease and eviction cases.
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