Housing in Gearhart, OR is significantly higher than the US median house value at a whopping $613,100. Despite the fact that both Gearhart and the US experienced an appreciation of housing over the past year, Gearhart's appreciation rate was slightly lower at 7.02%, compared to 8.27% for the US as a whole. This indicates that while housing prices are still increasing in Gearhart, it is likely to be slower than other parts of the country. The high cost of housing in Gearhart makes it difficult for potential buyers to purchase property but could also benefit those who already own homes because of its appreciation rate.
The median home cost in Gearhart is $613,100. Home appreciation the last 10 years has been 142.7%. Home Appreciation in Gearhart is up 13.1%.
Average Age of Homes
- The median age of Gearhart real estate is 40 years old
The Rental Market in Gearhart
- Renters make up 7.2% of the Gearhart population
- 0.6% of houses and apartments in Gearhart, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.