Overview of the Commercial and Residential
Real Estate Market in Oregon
A diverse landscape, beautiful Pacific coastline, and several major cities make Oregon a popular tourist destination and a great place to live. Portland is considered one of the nation's finest examples of urban planning. According to the U.S. Census, the City of Roses is the state's largest city and home to 609,456 of Oregon's 3,928,068 people. It has a median home value of $284,900 and a median household income of $52,657. Eugene is one of the best cycling communities in the United States. It has a population of 159,190, median home value of $238,700, and a median household income of $42,167. That is slightly below the state-wide median household income of $50,229. Oregon's median home value is $238,000.
Overview of Commercial Real Estate Market in Oregon
Despite having a fairly high unemployment rate, Oregon's home prices have risen steadily coming out of the recent recession. New construction has not kept up with demand, causing a spike in rent prices. Portland's vacancy rate for office space stands at about 8.7 percent. Its lease rate for top-end commercial property can range from a low of $20 per square foot to as much as $39 per square foot. The walkability of many Oregon cities makes retail space an attractive investment in many of the large metropolitan areas. Oregon has a gross domestic product of $219.6 billion. The state's per capita personal income (PCPI) of $39,848 is 33rd in the country. Oregon is third in the nation for having the largest percent of its population (21 percent) on food stamps.
Office Rental and Executive Suites in Portland, OR
How to Become a Realtor in Oregon
With a top priority of protecting the public in all real estate transactions, the Oregon Real Estate Agency establishes the standards for licensees and regulates their conduct. Oregon has two types of real estate license: broker license and principle broker license. To become a broker, applicants must be a high school graduate or have a GED equivalent. They must complete 150 class hours of approved Oregon real estate coursework. After three years of active work experience as a licensed real estate agent, in Oregon or another state, people with a standard broker license qualify to take the 40-hour Brokerage Administration and Sales Supervision course. Once completed, they can take the state broker exam to become a principle broker. Oregon currently has reciprocity with Alberta, Alabama, South Dakota, Nebraska, and Georgia.