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Cherry Grove

Learn about the people, housing, costs and businesses in Cherry Grove, Oregon

Median Home$636,800
Median Rent$1,471/month
Population501
Leading IndustriesTransportation · Retail · Construction4% transportation
Home Value Growth⬆⬆+12.2% over 2 years
Young Adults23% of residents
Homeowners92% of occupied units
NotableHigh Incomes$115k/year · top 10% nationally
NotableTransit80/100 · excellent transit access
Cherry Grove
OR

Frequently Asked Questions

What are today's mortgage rates in Cherry Grove?

As of today, the 30-year fixed mortgage rate for Cherry Grove is approximately 6.898% (6.934% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Cherry Grove?

The median home value in Cherry Grove is $637k. The median monthly rent is $1,471. Annual property taxes average $3k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Cherry Grove?

Home values in Cherry Grove have increased 12.2% over the past two years. This indicates a strong appreciation trend. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Cherry Grove?

Based on a typical all-in ownership cost of $2,052/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $88k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Cherry Grove is $115k/year.

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What industries drive the economy in Cherry Grove?

The largest employment sectors in Cherry Grove are public administration (22%) and retail (19%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.