Housing Report for Corvallis

The residential real estate values in Corvallis, Oregon have seen large increases from the real estate values reported in 2000. The valuations have increased by $42,700, or 25.1 percent, since 2000 when their medians were reported to be $169,800.

Throughout the State of Oregon, Corvallis places 4 of the 6 metro areas by percent in growth of new residential structures. The metropolitan area places 154 of 361, compared to percent change of residential structures in other metropolitan areas throughout the United States.

There is a limited amount of housing that is affordable in Corvallis, Oregon. In 2005, only 11.6 percent of housing was valued under $125k.

Corvallis has a medium percentage of high-priced residential real estate. For the year 2005, the American Community Survey accounted that 3.8 percent of the houses were valued over a half a million dollars.

In Corvallis, the census reported 34,361 homes in the year 2005. This MSA has gone through a medium-high growth level in the number housing units, adding all together 2,024 homes since 2001, or 6.3 percent.

Corvallis recorded median owner-occupied home value in the year 2005 of $212,500, published by the American Community Survey. This median is greater than the overall State of Oregon 2005 median owner-occupied dwelling value of $201,200 and greater than home value of $167,500 for the United States in the same year.

Data Source: U.S. Census Bureau

Employment Report for Corvallis, Oregon -- Annual 2005 Industry Summary

Management of companies and enterprises has had the highest level of job growth from 2001-2005 in Corvallis, moving a total of 307.1 percent. This is greater than the national employment change in the industry of 1.6 percent. The State of Oregon encountered a change in industry employment of 4.1 percent, during the time since 2001.

The Corvallis Metropolitain Area is ranked number 354 of 363 throughout the US according to the relatively size of the employment base in the year 2005. This ranking has slipped behind between the years 2001 and 2005. In 2001, the Metropolitan Area was ranked 351 of 363 Counties.

Manufacturing between the years 2001 and 2005, saw the greatest loss in employment in the Corvallis MSA. The sector faced a loss of 1,037 employees during the period, or 16.1 percent of industry's employment. The industry declines made up 47.9 percent of the total jobs loss in the Metro Area.

In Corvallis, Manufacturing, Health care and social assistance, and the Retail Trade sectors, in terms of total employment, are the largest. Manufacturing provides the most jobs and contributes 20.6 percent of all jobs throughout the region, totaling 5,406 people employed. The Health care and social assistance and Retail Trade sectors account for 18 and 11.4 percent of industry employment.

A top paying industry in Corvallis is the manufacturing sector paying an annual wage of $64,330. Throughout the MSA since the year 2001, the annual average pay of the industry has grown by 9.8 percent or $5,733. The State of Oregon reflects a different job market in the manufacturing sector, placing in the middle of sectors according to average 2004 industry pay.

In Corvallis, Manufacturing, Health care and social assistance and Other services, except public administration industries have the highest United States location quotient (LQ). The Manufacturing industry has an LQ of 1.61. The level of employment in the Manufacturing industry is 1.61 times more than the average percent in the United States, revealing signs that Corvallis specializes in Manufacturing.

Manufacturing is the industry with the largest establishments in Corvallis MSA. In the region, the industry averages 54 employees per business. This is greater than the US industry average of 39 and greater than the Oregon establishments size average of 34 for the Manufacturing industry.



Datasource: U.S. Department of Labor. Bureau of Labor Statistics. Quarterly Census of Employment and Wages (QCEW).