97116, Forest Grove, OR

Forest Grove, Oregon is located in the 97116 zip code. Forest Grove has a population of about 30,000 people and an average home value of $269,000. Forest Grove has a median household income of $75,000 and a median family income of $85,000. The 97116 zip code has an unemployment rate of 3.9%.

The average home value in the 97116 zip code increased by 7% from 2016 to 2017. The average home value in the 97116 zip code increased by 5% from 2015 to 2016. The average home value in the 97116 zip code increased by 9% from 2014 to 2015. The 97116 zip code had an annualized rate of growth of 6%.

The percentage increase in home values can be attributed to several factors including population growth, low interest rates, and limited supply of homes for sale. Low interest rates have made it more affordable for people to buy homes and have helped increase the demand for homes in the 97116 zip code. Population growth has also contributed to increasing demand for homes as more people are looking for places to live that are close to work and shopping centers. There is limited supply of homes available for sale which has led to higher prices for homes in the 97116 zipcode.