Real Estate Investing in Harrisburg, Oregon (97446)
Should you buy in 97446 (Harrisburg, 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 price-to-rent: Price-to-rent ratio 27.0 — hard to cash-flow at these prices.
What’s happening in Harrisburg, OR (97446)?
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Market Analysis: 97446 Harrisburg
This part of Linn County is not an easy win. The 97446 ZIP reflects softness in key indicators, and the playbook that works in cleaner markets often stalls here.
For an experienced owner, 97446 can be a a strong candidate for hunting ground — but the discount at $414K reflects genuine risk that outside investors often underestimate.
ZIP 97446's metrics run below Linn County's averages on price growth and tenant stability. Investors who ignore that regional gap tend to relearn it the hard way.
A impressive renter share of 24% in 97446 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
Distressed ZIPs reward experience. notable returns are possible in 97446, 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 Harrisburg:
Property Strategy for 97446
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $312,944 | $1,420 | 3.3% | +5.3% | $156,472 |
| 3BR | $395,808 | $1,920 | 3.5% | +6.7% | $131,936 |
| 4BR | $480,690 | $2,260 | 3.4% | +6.3% | $120,173 |
Market Trends
Home Value History (with trend line)
📊 How Does 97446 Compare?
| Metric | 97446 | Harrisburg | Albany-Lebanon, OR | Oregon |
|---|---|---|---|---|
| Home Value | $414,434 | $414,434 | N/A | $493,884 |
| 5-Year CAGR | 4.6% | 4.6% | N/A | 4.9% |
| Avg Rent | $1,278 | $1,278 | N/A | - |
| Cap Rate | 2.4% | 2.4% | - | - |
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 97446 (Harrisburg, OR). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $414,434 |
| Monthly Rent | $1,278 |
| Price-to-Rent | 27.0:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.7% |
| Cap Rate | 2.4% |
| 5-Year IRR | 7.0% |
📈 Home Appreciation
| 1-Year | +1.9% ▲ |
| 3-Year CAGR | +2.0% ▲ |
| 5-Year CAGR | +4.6% ▲ |
| 10-Year CAGR | +7.8% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.5%) exceeds the estimated cap rate (2.4%). 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 97446
Population: 4,997
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 97446
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
Frequently Asked Questions
How much does a house cost in Harrisburg, OR?
The median home value in Harrisburg, OR is roughly $414K. That puts it reasonable relative to the OR statewide average.
What does house hacking look like in Harrisburg, OR?
House hacking works a challenging in Harrisburg, OR. Rents of $1,278/mo against $414K acquisition make the strategy solid for owner-occupants.
Is Harrisburg, OR a friendly market for rental owners?
Rental owners in Harrisburg, OR deal with a landlord-friendly legal framework. Most standard eviction processes run on reasonable timelines.
What approach is best for Harrisburg, OR real estate?
Harrisburg, OR investors pursuing careful cash-flow rentals with hands-on management. The underlying economics ($414K prices, $1,278/mo rents) make it a reasonable choice.
How strong is the working-renter base in Harrisburg, OR?
Tenant quality in Harrisburg, OR ranks as solid. Landlords generally report steady occupancy at market rents of $1,278/mo.
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Community Ratings
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