The story of this market
The typical home in ZIP 97370 sells for about $482,500, or $265 per square foot.
Prices are up +2.1% from a year ago, so sellers still have some momentum. Homes take about 45 days to sell. HUD's fair market rent for a two-bedroom is $1,850 a month.
ZIP 97370 — Philomath
The Philomath housing market remains stable, supported by low inventory and consistent demand from those working in the nearby Corvallis employment hub. While price growth has moderated compared to previous years, the area's affordability relative to larger metro centers continues to attract family buyers.
This ZIP is ideal for families and professionals seeking a small-town atmosphere with easy access to the amenities and employment hubs of Corvallis.
Median prices moved up 2.1% year over year.
Homes spend a median of 45 days on market with 3.5 months of supply — a fast-moving market.
15% 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 3.5% · poverty 7.0% — 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 6.9%/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 4.5%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
ZCTA 97370, 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.
Crime rates in Philomath are generally low, with the area experiencing significantly fewer property and violent crimes compared to the national average.
Schools serving the 97370 area are part of the Philomath School District, which is generally regarded as providing a stable and quality educational environment for local families.
The area faces moderate wildfire risk typical of western Oregon's forested regions, and residents are encouraged to maintain defensible space around properties.
Economic momentum is driven by proximity to Oregon State University in neighboring Corvallis, with a mix of local timber-related industries and a growing professional services sector.
Property taxes are assessed at the county level in Benton County, with rates reflecting local school district levies and municipal services; Oregon does not have a state sales tax.
Most residents commute to nearby Corvallis for employment, typically a 10-15 minute drive via Highway 20.
The area offers extensive access to outdoor recreation, including Marys Peak, local city parks, and proximity to the Coast Range for hiking and mountain biking.
The rental market is characterized by low vacancy rates due to demand from university-affiliated residents and limited new multi-family construction.
The economy is anchored by the proximity to Oregon State University and the broader Corvallis regional economy, with significant employment in education, research, and timber products.
The area is served by Highway 20, providing the primary transit corridor to Corvallis and the Oregon coast.
Development is focused on modest residential expansion and downtown infrastructure improvements to support the growing population.
Benton County Assessment and Taxation manages property valuations, adhering to Oregon's constitutional limits on assessed value growth.
Parcels are subject to Philomath School District levies and Benton County service districts.
Property insurance premiums are influenced by regional wildfire risk assessments and proximity to fire protection services.
Data retrieved from US Census Bureau ZCTA 97370 profiles.
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.
The highest point in the Oregon Coast Range, offering hiking and scenic views.
Central community space with playgrounds and picnic areas.
Local history museum housed in a historic school building.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.