The story of this market
The typical home in ZIP 97333 sells for about $598,000, or $333 per square foot.
Prices are down 2.36% from a year ago, which gives buyers more room to negotiate. Homes take about 42 days to sell. HUD's fair market rent for a two-bedroom is $1,800 a month.
ZIP 97333 — Corvallis
The 97333 housing market shows signs of stabilization with a modest year-over-year price adjustment, reflecting a cooling trend after a period of rapid growth. Demand remains supported by the university-anchored economy, though buyers are finding more negotiation room as inventory levels normalize. The market is currently characterized by steady activity and a balanced outlook for the remainder of the year.
This ZIP is ideal for university-affiliated professionals, families seeking high-quality schools, and those who value proximity to outdoor recreation. It offers a balanced lifestyle that appeals to both long-term residents and those drawn to the academic and research-driven economy.
Median prices moved down 2.4% year over year.
Homes spend a median of 42 days on market with 2.5 months of supply — a fast-moving market.
34% of listings have cut prices · homes sell at 98.6% of asking — demand is holding steady.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 3.2% · poverty 12.0% — a stable, low-distress 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 7.2%/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 4.8%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
net influx — more people moved in than out
ZCTA 97333, 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 cities of similar size in Oregon, with property crime being the primary concern. Local law enforcement maintains active community engagement programs to address neighborhood safety.
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. Schools in this district consistently rank well within the state.
The region faces moderate risks from wildfire smoke during summer months and potential flooding in low-lying areas near the Willamette River. Property insurance markets remain stable but are increasingly sensitive to regional climate-related hazard assessments.
Economic momentum is anchored by Oregon State University and a growing cluster of technology and research firms. Infrastructure development is focused on sustainable urban growth and expanding housing capacity to meet demand from the university and local industry.
Property taxes are assessed by Benton County based on the real market value of properties, with rates influenced by local school district and municipal levies. Oregon law limits the growth of assessed value for existing properties, providing a degree of predictability for long-term homeowners.
Residents in 97333 benefit from a central location with easy access to the Oregon State University campus and downtown Corvallis. Most commutes are short, with well-maintained arterial roads and a robust local transit system serving the employment core.
The ZIP code offers exceptional access to outdoor amenities, including the Willamette River waterfront, numerous city parks, and extensive trail networks. Residents are also within close proximity to local golf courses and the vibrant shopping and dining districts of downtown Corvallis.
The rental market is characterized by high demand driven by the university population, leading to low vacancy rates and consistent rent growth. Investors remain active, though short-term rental regulations are strictly managed by the city.
The economy is heavily influenced by Oregon State University, which serves as the primary employer and driver of research and development. The region also supports a diverse mix of healthcare, technology, and government services.
Corvallis is served by a comprehensive bus system and is highly bike-friendly, with dedicated lanes throughout the city. Major highway corridors provide efficient access to the broader Willamette Valley region.
The city is currently focused on infill development and increasing housing density near the university and downtown core to address affordability. Several mixed-use projects are in the planning stages to support this growth.
The Benton County Assessor's office manages property valuations, adhering to state-mandated assessment cycles and tax limitation measures.
Parcels in this ZIP are subject to standard municipal and school district levies, with no significant MUD/PID presence reported.
Property insurance remains available, though premiums are influenced by regional wildfire risk assessments and the age of housing stock.
Data retrieved from US Census Bureau ZCTA profile for 97333.
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.
Large riverside park with trails and sports fields.
Historic district with local boutiques and restaurants.
Major anchor institution providing cultural and athletic events.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.