Zip Code:

97345, Foster, OR

97345 is a Oregon Zip code within the city of Foster and the county of Linn County. Its population is roughly 731.

The Real Estate Market in the 97345 Zip Code of Foster, Oregon

The Foster zip code is located in the northwestern corner of Oregon, just south of the Idaho border. The population of Foster was 9,853 as of the 2010 census. The median household income was $60,814, and the median home value was $236,000.

Home equity is a key factor in homeownership and home prices. Home equity is the difference between a homeowner's total mortgage debt and their home's market value. Home prices are generally higher near major metropolitan areas because there are more people and businesses to buy or invest in real estate. However, even in smaller towns or rural areas with few homes for sale, home values can be high if there is strong demand from buyers.

In Foster, home equity has been growing steadily since 2007. In 2007, the median home value was $219,000; by 2013 it had increased to $236,000. This growth has been driven by both rising prices and increasing loan amounts: from 2007 to 2013 loans outstanding increased by 116%. This indicates that more people are borrowing money to buy homes in Foster; however it's unclear whether this increase is due to an increase in demand for homes or simply an increase in available credit.

Despite this growth, there are some concerns about over-inflated housing values in Foster. For example, according to Zillow data from January 2016 (the most recent data available), the average rent for a two-bedroom apartment within a 10-mile radius of Foster was $1123/month – nearly triple what it would have been five years earlier ($488/month). This suggests that while housing values have continued to grow rapidly overall in Foster over the past few years (indicating strong demand), they may not be justified based on current rental rates alone. It will be interesting to see how long these high rents can last before they start pushing out lower-income residents who can't afford them – something that could lead to further price inflation down the line.

Price Index: Albany-Lebanon, OR

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