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Forest Grove

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

Median Home$427,824
Median Rent$1,494/month
Population27,138
Leading IndustriesRetail · Healthcare · Arts, Food & Hospitality16% retail
Home Value Growth+8.5% over 2 years
Young Adults33% of residentswell above average
Homeowners64% of occupied units
NotableHigh Incomes$90k/year · top 24% nationally
Forest Grove
OR

Frequently Asked Questions

What are today's mortgage rates in Forest Grove?

As of today, the 30-year fixed mortgage rate for Forest Grove is approximately 6.862% (6.897% 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 Forest Grove?

The median home value in Forest Grove is $428k. The median monthly rent is $1,494. Annual property taxes average $4k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Forest Grove?

Home values in Forest Grove have increased 8.5% over the past two years. This represents moderate growth. 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 Forest Grove?

Based on a typical all-in ownership cost of $1,664/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $71k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Forest Grove is $90k/year.

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What industries drive the economy in Forest Grove?

The largest employment sectors in Forest Grove are public administration (24%) and retail (16%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.