Otis, OR

Real estate in Otis, Oregon is a hot commodity. The city has seen an influx of new residents and businesses in recent years, and the real estate market has responded accordingly. There are a number of reasons for this: Otis is located in a desirable area with plenty of amenities, the city's infrastructure is growing rapidly, and there are plenty of opportunities for investment.

According to the 2016 American Community Survey, the median household income in Otis was $101,000. This is significantly higher than the statewide median income of $75,000 and indicates that there are many affluent residents in the city. In addition, Otis has a high concentration of jobs in high-tech industries – such as information technology – which means that there is strong demand for housing here.

As a result of these factors, Otis' real estate market has been booming over the past few years. The average sale price for homes here increased by 27% from 2014 to 2016 – far outpacing inflation rates during that time period (2%). And while prices have moderated somewhat since then, they remain very high by regional standards. For example, according to Zillow's latest data (as of February 2018), the average sale price in Medford – which is just 25 miles away from Otis – was only $269,000.

Given all this demand and elevated prices, it's no surprise that many people are interested in investing in real estate here. In fact, according to Zillow's 2018 Home Value Index report*, almost half (47%) of all households living in Otis were owner-occupied; this compares very favorably with homeownership rates across much larger cities such as Portland (32%) or Seattle (29%). This indicates that there is significant opportunity for investors who want to get involved in the local market.

*Source: "Zillow Home Value Index"