97720, Burns, OR

The 97720 zip code of Burns, OR, has a median home value of $147,000. This is significantly higher than the statewide median home value of $122,500. The Burns area has seen an increase in home values over the past few years. In 2016, the median home value was $135,000 and in 2017 it increased to $147,000.

There are a number of factors that may contribute to this increase in home values in the Burns area. Some potential reasons include an influx of new residents and families due to the growth of nearby cities like Portland and Beaverton, as well as an increase in demand for housing due to increasing incomes and job opportunities. Additionally, there is a limited supply of homes available for sale which may lead to increased prices.

Despite these positive trends, there are also some risks associated with high home values. For example, if interest rates rise or if the market crashes then homeowners could experience significant losses on their investments. Additionally, if someone wants to sell their Burns home they will likely need to price it at a significantly higher level than what it was when they first purchased it due to increased competition from other buyers.