The story of this market
The typical home in ZIP 97331 sells for about $617,500, or $305 per square foot.
Prices are up +2.1% from a year ago, so sellers still have some momentum. Homes take about 48 days to sell. HUD's fair market rent for a two-bedroom is $1,595 a month.
ZIP 97331 — Corvallis
The housing market in 97331 remains stable, characterized by high demand driven by the university presence and limited inventory. While price growth has moderated, the area continues to see consistent interest from buyers and renters alike, maintaining a balanced market environment.
This ZIP is primarily suited for university-affiliated individuals, students, and faculty seeking proximity to campus, as well as investors targeting the stable rental market.
Median prices moved up 2.1% year over year.
Homes spend a median of 48 days on market with 4.2 months of supply — a fast-moving market.
13% of listings have cut prices · homes sell at 98.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 5.3% · poverty 45.2% — a mixed stability profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 5.4%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 4.2%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
ZCTA 97331, Benton County OR
ACS 2024 5-year estimates. Aggregate published statistics for this ZIP — never individual records, and never an attribute of any individual property or resident.
Corvallis generally experiences lower crime rates compared to other Oregon cities of similar size, with property crime being the most frequently reported issue.
The area is served by the Corvallis School District, which is highly regarded for its academic performance and strong integration with Oregon State University resources.
The region faces moderate wildfire risk during summer months and localized flood risks near the Willamette River, with standard insurance coverage generally available.
Economic momentum is anchored by Oregon State University and a growing technology and research sector, driving consistent demand for housing and infrastructure improvements.
Property taxes are assessed by Benton County based on real market value, with rates influenced by local school district levies and municipal bonds.
Residents primarily commute via local arterial roads to the Oregon State University campus and downtown Corvallis, with limited public transit options outside the city core.
The area offers extensive access to Willamette River trails, numerous city parks, and proximity to the McDonald-Dunn Forest for hiking and mountain biking.
The rental market is heavily influenced by the university student population, resulting in high demand and low vacancy rates during the academic year.
The economy is dominated by Oregon State University, followed by healthcare services and a growing cluster of technology and engineering firms.
Corvallis Transit System provides bus service throughout the city, with major highway access via US-20 and OR-34.
Ongoing campus master planning and mixed-use residential developments near the university district are the primary drivers of local construction.
Benton County Assessor manages property valuations, typically reassessing based on market trends and state-mandated growth limits.
Parcels are subject to Corvallis School District taxes and various local service district assessments for water and fire protection.
Property insurance premiums are stable but reflect regional wildfire risk mitigation requirements.
Data retrieved from data.census.gov for ZCTA 97331.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
Major anchor institution and cultural hub.
Large riverside park with sports fields and trails.
Home to OSU Beavers football.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.