According to recent data, the median rent for a 1-bedroom apartment in Beaverton, OR is $1,450 per month, reflecting a 3.2% increase over the past year. As the local housing market continues to evolve, it’s important for residents to understand the costs associated with renting versus owning a home in this growing city.
The Housing Market in Beaverton Today
Beaverton’s housing market is characterized by a mix of established neighborhoods and new developments. While inventory has tightened in recent years, the city continues to attract residents with its strong job market, excellent schools, and proximity to Portland. In Beaverton, an increasing number of apartments are offering more green spaces and amenities to cater to the growing population of young professionals and families.
The local economy has been a driving force behind the housing market, with major employers like Nike and Intel contributing to steady job growth. This, combined with Beaverton’s reputation as a safe and livable city, has led to increased demand for housing across all price points.
Renting in Beaverton: What’s Typical?
For renters in Beaverton, the average monthly rent for a 1-bedroom apartment is around $1,450, while a 2-bedroom unit typically costs about $1,800. These prices can vary depending on the location, age, and amenities of the property. Popular renter areas include Central Beaverton, where many young professionals appreciate the walkability and access to public transportation, and the Murray Hill neighborhood, which offers more affordable options for families.
Rent in Beaverton has risen by approximately 3.2% in the last year, but areas like Vose and West Slope still offer relatively affordable options for those looking to balance cost with convenience. It’s important for renters to factor in additional expenses such as utilities, parking, and renter’s insurance when budgeting for housing costs.
Owning a Home in Beaverton
The median home price in Beaverton is currently around $450,000, which translates to an estimated monthly mortgage of $1,900 for a typical buyer (assuming a 20% down payment and a 30-year fixed-rate mortgage). However, the total cost of ownership extends beyond the mortgage payment. Homeowners in Beaverton can expect to pay property taxes of approximately $4,500 per year, along with homeowners insurance and potential HOA dues.
For a median-priced home, buyers in Beaverton can expect a monthly mortgage of around $1,900, plus average HOA dues of $200-$300 per month in some neighborhoods. While these costs may be higher than renting in the short term, owning a home can provide long-term financial benefits, such as building equity and potential tax deductions.
Renters vs. Homeowners: Who Lives Where?
Beaverton has a homeownership rate of approximately 52%, indicating a relatively balanced mix of renters and homeowners. Younger residents, particularly those in their 20s and 30s, are more likely to rent, often in apartment complexes or shared houses. Families and older residents are more likely to own homes, especially in established neighborhoods like Sexton Mountain and Highland.
While renting is common among younger individuals, a large portion of older residents own homes. This can be attributed to various factors, including financial stability, long-term commitment to the area, and the desire for more space and privacy. However, rising home prices and limited inventory have made it challenging for some residents to transition from renting to owning.
| Housing Cost | Monthly Average |
|---|---|
| Rent (1BR) | $1,450 |
| Mortgage (Median Home) | $1,900 |
| Property Tax | $375 |
| Utilities | $150 |
| Insurance (Renters/Homeowners) | $20 / $80 |
| HOA Dues | $250 |
| Total (Renting) | $1,620 |
| Total (Owning) | $2,755 |
| Estimates reflect mid-range properties and average usage. | |
What’s Driving Costs Up or Down?
Several factors influence housing costs in Beaverton, including the local job market, population growth, and zoning regulations. The strong presence of major employers like Nike and Intel has driven demand for housing, particularly in nearby neighborhoods. As more people move to the area for work, the increased competition for limited housing supply puts upward pressure on prices.
In cities like Beaverton, the local job market is influencing the cost of housing by pushing prices up in key areas. However, the city has taken steps to address affordability concerns, such as encouraging the development of more diverse housing options and investing in public transportation to connect residents to employment centers. Recent changes to zoning laws have also opened up more opportunities for higher-density housing, which could help to alleviate some of the pressure on the market.
FAQs About Housing in Beaverton
- Is Beaverton affordable to live in? Compared to nearby cities like Portland, Beaverton offers relatively affordable housing options. However, costs have been rising in recent years, and many residents still struggle with housing affordability.
- Why are housing prices changing? Housing prices in Beaverton are influenced by a combination of factors, including population growth, job market trends, and zoning regulations. As demand for housing increases and supply remains limited, prices tend to rise.
- How does Beaverton compare to nearby cities? Beaverton generally offers more affordable housing options than Portland, but prices are still higher than in some surrounding suburbs. The city’s strong job market and high quality of life make it an attractive option for many residents.
Making Smart Housing Decisions in Beaverton
When deciding whether to rent or buy in Beaverton, it’s important to consider your long-term financial goals and lifestyle preferences. Renting offers flexibility and lower upfront costs, while owning a home can provide stability and the potential for long-term financial gains. Be sure to factor in all of the associated costs, such as utilities, insurance, and maintenance, when budgeting for housing.
For those considering a move to Beaverton, it’s helpful to research different neighborhoods and housing options to find the best fit for your needs and budget. Resources like Monthly Budget Examples for Beaverton Residents and Cost of Living in Beaverton (2025 Guide) can provide valuable insights into the local housing market and help you make informed decisions.
Ultimately, the choice between renting and owning in Beaverton depends on your individual circumstances and priorities. By understanding the costs and trends in the local housing market, you can make a smart decision that aligns with your financial goals and enhances your quality of life in this vibrant and growing city.