Published on Monday, August 08, 2016 by Land Century
If youre thinking of buying land in this state, you may be wondering where you can find the best deals. To know where to find these deals, you need to get to know the state itself.
Oregons Landscape and Climate
Because of its location, Oregon has a very diverse landscape. The western part of the state is bordered by the Pacific Ocean, so youll find tranquil, windswept beaches. But if you travel further inland, youll find the Cascade Range, and to the west of here, numerous bodies of water. At lower elevations, Oregon has dense forests. To the east, youll come across high desert areas that sprawl all the way to the Great Basin.
As you can imagine, land along the coast will be more expensive, although you can find some deals from time to time. Generally, land in high desert areas is the most affordable, but you can find some great deals in the central region of the state as well.
Oregon boasts a mild but diverse climate. The western part of the state has an oceanic climate, while the east has a desert-like climate. The southwestern region has a Mediterranean climate thats similar to Northern California. The northeast has a steppe climate.
Climate and landscape are two indications of where you can find great deals on land in the state. Areas with mild climates and those that are close to the coast will cost more, whereas areas with desert-like climates or harsher winters will likely have lower-cost land available and more of it.
Know Where to Look in Oregon
Its never a bad idea to invest in cities like Portland, Salem, Eugene or Bend where populations are larger and land is more valuable. But if youre looking to score a great deal, consider venturing out into smaller cities that have growth potential or are in line with your goals.
Here are a few affordable cities to consider:
With a population of just under 60,000, Springfield isnt exactly a small town. But housing is affordable, which means land is affordable, too. And because the city is river-centric, its a popular spot for fishing, swimming and outdoor activities in general.
The median home cost in Springfield is $177,700, and youll find plots of land available at relatively affordable prices. Costs will depend on where the land is situated. For a waterfront plot, plan to spend about $500,000 for two acres. Right now, you can get your hands on an 11.7-acre lot for $375,000 that is not waterfront, but does offer views of the mountains in the distance.
A smaller city than Springfield (pop. 36,478), Keizer is a part of the Salem Metropolitan Statistical Area and is situated inside of the Willamette Valley. The median household income in town is $49,898 and unemployment rates are low, which makes this area a smart place for investment.
Land prices are reasonable here, but listings come and go quickly. A 10,149-sqft plot is available right now for $70,000. To put that into perspective, the median sale price for homes in the area is $211,450, which means you stand to earn a nice return if you decide to build a home on the property.
Eugene is the third most populous city in Oregon, with a population of 156,185. The city is home to the University of Oregon and is known not only for its natural beauty, but abundance of activities, including biking, rafting, kayaking and other outdoor activities.
Land in Eugene is surprisingly affordable despite it being a highly populated area. You can purchase a 3-acre plot for $255,000, or a 1.48-acre lot for $175,000. Recreational vehicle manufacturing and wood products manufacturing are two major industries in the city. The organic food industry is another major driver of the local economy, with famous brands like Yogi Tea and Mountain Rose Herbs. With a higher population and solid economy, now is the time to buy land in this growing area.
Coos Bay has a smaller population of just 15,967, and its situated along the coast. The great thing about this city is that despite its favorable location, land is especially affordable. Right now, theres a listing for a 1.83-acre plot for just under $90,000 and a 10.6-acre parcel for $149,000.
The city is known for its food-centric festivals that celebrate all types of foods from blackberries to clams, cranberries and other local produce.
The town of Lebanon is about the same size as Coos Bay, and is famous for its strawberry festival, which includes a major parade and carnival. But the city also boasts several parks and affordable housing and land. A half-acre plot of land sells for about $45,000, and right now, you can buy 6.15 acres for $109,900.
With a small population of about 10,000, Damascus boasts scenic landscapes and an affordable cost of living. Yet still, the median household income here is about $79,000 per year.
Land is affordable, depending on where in the city you look. For example, a 5-acre plot may go for $250,000 in one part of town, while a 0.43-acre plot may go for around $400,000 in another part of town.
Damascus is a place to consider investing in, but be sure to research the area youre considering to ensure that it will deliver the type of return youre looking for.
Oregon has ample opportunities for land investment if you know where to look. While youll find land all across the state, the best deals are in the smaller towns that are just starting to see growth. While you shouldnt ignore bigger cities like Portland or Salem, land prices here tend to be higher. But in smaller areas, like the ones listed above, you can still score great deals on properties of all sizes, whether you want less than acre or dozens of acres.