Analysis finds housing in Hood River as one of the most expensive across the US, four more Oregon cities on the list

Hood River, Oregon – Against the belief that smaller cities usually provide cheaper accommodation than bigger cities, a recent study by LendingTree exposes five Oregon cities among the top 25 most expensive in the United States.

Analyzing housing values in American towns with populations ranging from 10,000 to 50,000, the study indicated that homeownership might have a significant cost even outside of the busy metropolitan centers. Based on statistics from the 2022 American Community Survey carried out by the U.S. Census Bureau, the paper underlined the shockingly high property values in tiny communities where, despite their small size, market prices match those of some of the biggest metropolitan areas.

Hood River, leading the Oregon pack at number 7, has a median home value of $492,500, which fairly mirrors Portland, Oregon’s housing market. Not far behind, Astoria ranks 10th with homes average $407,700, matching Austin, Texas pricing. At 16th and 18th, Prineville and Brookings are not too far off; their median property values, $368,200 and $353,200 respectively, fit marketplaces like Las Vegas, Nevada, and Baltimore, Maryland. At 25, The Dalles ranks last with a median property value of $298,200, roughly matching Dallas, Texas’s housing costs.

This arrangement of Oregon cities on the list reflects a larger national trend where the real estate market in less populated locations is catching up with those of big cities. For example, the report adds that these high-value cities sometimes draw wealthy people looking for holiday properties, which significantly raises the local real estate prices. Furthermore, restricted housing availability might result in competitive markets and higher home values even in places not usually considered as tourist locations.

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Despite these high numbers, the study also indicates that not all small-town real estate is excessively expensive, even if current market conditions make it more difficult to locate reasonably priced accommodation. This shows a dynamic in which as observed all over the nation, even rural places are not immune to the pressures of great demand and limited supply.

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With many smaller cities displaying property values one would expect in much larger urban environments, the inclusion of cities like Hood River and Astoria among America’s most expensive serves as a wake-up call that the dream of affordable small-town living may be harder to achieve than previously thought. This phenomenon emphasizes the complexity of the U.S. housing market, where, independent of town size, location always plays a major role in deciding real estate values.

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The full top 25 towns are as follows:

1. Vineyard Haven, Mass.
2. Jackson, Wyo.
3. Breckenridge, Colo.
4. Steamboat Springs, Colo.
5. Hailey, Idaho
6. Gardnerville Ranchos, Nev.
7. Hood River, Ore.
8. Ellensburg, Wash.
9. Los Alamos, N.M.
10. Astoria, Ore.
11. Juneau, Alaska
12. Fredericksburg, Tex.
13. Kill Devil Hills, N.C.
14. Easton, Md.
15. Sandpoint, Idaho
16. Prineville, Ore.
17. Ketchikan, Alaska
18. Brookings, Ore.
19. Sheridan, Wyo.
20. Montrose, Colo.
21. Taos, N.M.
22. Moscow, Idaho
23. Brevard, N.C.
24. Pullman, Wash.
25. The Dalles, Ore.