The story of this market
The typical home in ZIP 97638 sells for about $325,000, or $215 per square foot.
Prices are up +2.4% from a year ago, so sellers still have some momentum. Homes take about 105 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $1,250 a month.
ZIP 97638 — Silver Lake
The housing market in 97638 is characterized by very low inventory and slow turnover, typical of a remote rural area. Prices have seen modest appreciation, driven by limited supply rather than high demand. The market remains stable with little speculative activity.
This area is best suited for those seeking remote, rural living, outdoor enthusiasts, or individuals looking for affordable land and off-grid lifestyle opportunities.
Median prices moved up 2.4% year over year.
Homes spend a median of 105 days on market with 15.5 months of supply — a slower-moving market.
12% of listings have cut prices · homes sell at 96% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 6.5% · poverty 14.0% — 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 9.4%/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 9.6%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
ZCTA 97638, Lake 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.
The area is subject to high wildfire risk typical of the high desert environment in Central Oregon.
Economic activity is primarily driven by tourism, outdoor recreation, and small-scale agriculture with limited industrial development.
Property taxes are assessed by Lake County based on real market value; there are no local municipal income taxes.
Commutes are long and rural, typically requiring personal vehicles for travel to employment centers in Bend or La Pine.
The area is known for proximity to Fort Rock State Natural Area, Crack in the Ground, and extensive high-desert hiking and off-roading trails.
The rental market is extremely limited with low inventory and high reliance on seasonal or short-term housing for recreational visitors.
The local economy is heavily reliant on tourism, ranching, and public land management services.
Public transit is non-existent; the area relies entirely on private vehicle transport via state highways.
There is no significant commercial or residential development pipeline reported for this rural area.
Lake County Assessor maintains property valuations based on annual market analysis and state-mandated reappraisal cycles.
Parcels are generally served by rural fire protection districts and local school districts.
Property insurance premiums are rising due to increased wildfire risk and limited carrier availability in rural Oregon.
Oregon is a judicial and non-judicial foreclosure state with specific notice requirements for homeowners.
Oregon law requires sellers to provide a property disclosure statement covering material defects.
Data retrieved from census.gov ZCTA-level tables.
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.
A unique volcanic tuff ring and historic homestead museum.
A volcanic fissure that serves as a popular hiking destination.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.