Real Estate Investing in Klamath Falls, Oregon (97601)
Should you buy in 97601 (Klamath Falls, 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.
- High vacancy: 14.3% of homes vacant — above national norms.
What’s happening in Klamath Falls, OR (97601)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 97601 Klamath Falls
Not every below-median market is a bargain. Klamath Falls's 97601 ZIP shows signals that favor experienced operators who can absorb the risk $276K pricing implies.
Distressed markets are won on execution, not on spreadsheets. ZIP 97601 records the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
The gap between 97601 and stronger Klamath Falls ZIPs is not closing quickly. Investors should weight long-horizon assumptions accordingly.
The demographic picture in 97601 includes headwinds that any investor should price in. Income distribution skews lower than Klamath Falls averages, and tenant stability requires active management.
New investors are better served looking at Klamath Falls's stable or hybrid ZIPs before stepping into 97601. The learning curve here is expensive when the lesson is wrong.
Here's what matters if you're considering buying a home in Klamath Falls:
Property Strategy for 97601
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $146,057 | $920 | 4.5% | +10.0% | $146,057 |
| 2BR | $193,983 | $1,200 | 4.5% | +8.2% | $96,992 |
| 3BR | $320,354 | $1,670 | 3.8% | +8.5% | $106,785 |
| 4BR | $408,601 | $2,010 | 3.5% | +7.9% | $102,150 |
| 5BR | $464,110 | — | — | +7.3% | $92,822 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 97601 Compare?
| Metric | 97601 | Klamath Falls | Klamath Falls, OR | Oregon |
|---|---|---|---|---|
| Home Value | $276,250 | $297,868 | N/A | $493,884 |
| 5-Year CAGR | 6.1% | 6.0% | N/A | 4.9% |
| Avg Rent | $1,219 | $1,170 | N/A | - |
| Cap Rate | 3.4% | 3.1% | - | - |
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 97601 (Klamath Falls, OR). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 97601 (Klamath Falls, OR)?
~25 seconds · no account needed · your report is anonymous
📊 Market Snapshot
| Home Value | $276,250 |
| Monthly Rent | $1,219 |
| Price-to-Rent | 18.9:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.3% |
| Cap Rate | 3.4% |
| 5-Year IRR | 9.6% |
📈 Home Appreciation
| 1-Year | +3.5% ▲ |
| 3-Year CAGR | +3.5% ▲ |
| 5-Year CAGR | +6.1% ▲ |
| 10-Year CAGR | +7.8% ▲ |
🏠 Rent Trends
| 1-Year | -5.4% ▼ |
| 3-Year CAGR | -0.1% ▼ |
| 5-Year CAGR | N/A |
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 97601
Population: 22,751
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 97601
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 is the typical vacancy rate in Klamath Falls, OR?
Occupancy in Klamath Falls, OR runs reliable with elevated vacancy. Well-priced units at $1,219/mo lease on reasonable timelines.
What monthly rent should investors expect in Klamath Falls, OR?
Rental rates in Klamath Falls, OR average $1,219/mo. Tenant demand and $276K home values make the yield look reasonable by investor standards.
Is the tenant base reliable in Klamath Falls, OR?
Tenant demand in Klamath Falls, OR is solid. The local workforce $1,219/mo rents across most rental classes.
Are landlord laws favorable in Klamath Falls, OR?
Klamath Falls, OR operates under OR law, which is landlord-friendly overall for landlords. Expect even-keeled treatment in typical lease and eviction cases.
Are homes affordable in Klamath Falls, OR?
Klamath Falls, OR median home values land near $276K. That is reasonable territory for investors looking at $1,219/mo-per-month rentals.
See what 97601 really looks like for investors
You're reading the free snapshot. Unlock appreciation trends, cap rates, vacancy signals, Section 8 data, and full demographics for 97601.
AI Market Advisor
Ask questions about investing in 97601 (Klamath Falls)
Community Ratings
What people who’ve spent time here actually say. Not paid reviews.
Be the first to rate 97601 (Klamath Falls, OR).
It takes 30 seconds. No signup. Your rating helps everyone who comes here after you.