There are many reasons to invest in Bend, Oregon, beyond the beauty. We will dig into the five factors that make Bend an incredible place to invest in. Why here at RidgeLine we love working this market.
Five Factors Test
Bend passed the five factors test which are:
- Population Growth
- Income Growth
- Job Growth
- Crime
- “Gut Check”
Population Growth
Between 2010 and 2022, the population increased from 76,639 to 102,834, representing a 34.2% rise, or 2.85% per year. Which is more than two times the minimum we like to see. Additionally, this makes it one of the fastest-growing small cities in the country. The Milken Institute also brought in the Bend Metro #4 for best-performing small cities. The city’s continued growth will continue to allow the market to absorb new units.
Income Growth
The income growth in Bend has averaged 5.9% per year since 2000, which is almost three times the national average inflation rate, creating a significant positive impact on disposable income. This means that renters are earning more per year than the average increase of rent per year.
Job Growth
The job growth in Bend has seen an average increase of 3.8% since 2015, which is about double what then the minimum we want it to be. Making Bend an employment growth powerhouse. Meaning there is plenty of employment growth for renters to have jobs. A significant number of renters in Bend are remote workers. Meaning that job growth in the market has that much more of an impact. This job growth will continue to have positive impacts on the market.
Crime
No Surprises here, but Bend continues to be a low-crime city. It only has about 156 violent incidents a year, well below the 500 incidents per 100,000 people that at minimum we want to se. Even with the significant growth Bend has seen, crime rates haven’t increased. Meaning Bend is getting safer as it grows.
Gut Check
Our general gut check of the city is excellent. Walking around the city, you will find many friendly people and cars stopping for you at crosswalks. There are great coffee shops, restaurants, bars, and amenities that attract people to Bend. Not to mention all the outdoor activities that are a big draw for all, all of this helps Bend pass our gut check.
Bend beats all the leading economic indicators out of the water when we compare it to other markets. It remains a significant draw for people. It is expected to experience healthy growth for years to come. Investing in Real Estate in Bend will be a huge payoff if you hold on for the long term.