The story of this market
The typical home in ZIP 97361 sells for about $549,900, or $373 per square foot.
Prices are roughly flat from a year ago (-0.79%), a market in balance. Homes take about 76 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $1,300 a month.
ZIP 97361 — Monmouth
The Monmouth housing market is currently experiencing a period of stability, characterized by moderate demand and a balanced supply of inventory. Prices remain influenced by the local university presence and proximity to the Salem employment core, with current metrics showing minimal year-over-year volatility. Buyers are finding a relatively stable environment compared to the broader regional market.
This ZIP is well-suited for university-affiliated individuals, families seeking a small-town atmosphere, and commuters working in the Salem metropolitan area.
Median prices moved down 0.8% year over year.
Homes spend a median of 76 days on market with 3.3 months of supply — a balanced-paced market.
0% of listings have cut prices · homes sell at 98% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 4.8% · poverty 14.2% — a stable, low-distress profile.
versus the prior ACS vintage
ZCTA 97361, Polk County OR
ACS 2024 5-year estimates. Aggregate published statistics for this ZIP — never individual records, and never an attribute of any individual property or resident.
The area is served by the Central School District, which provides public education for the Monmouth community.
Monmouth is home to Western Oregon University, which serves as a primary economic anchor and driver of local development.
Property taxes in Polk County are assessed based on the real market value of property, subject to state-mandated constitutional limits on assessed value growth.
Residents typically commute toward Salem via OR-99W, with travel times generally ranging from 20 to 30 minutes depending on traffic.
The area features local parks such as Monmouth Main Street Park and proximity to the Willamette River for outdoor recreation.
The rental market is influenced by the presence of Western Oregon University, creating consistent demand for student and faculty housing.
The local economy is heavily anchored by Western Oregon University and the surrounding educational and public sector services in the Salem-Keizer MSA.
The area is primarily served by OR-99W, connecting Monmouth to the broader Salem transit network and regional highway corridors.
Development is largely focused on supporting the university campus and incremental residential growth within the city limits.
The Polk County Assessor maintains property valuations in accordance with Oregon state law, focusing on annual market value adjustments.
Parcels are subject to Central School District 13J and various local service districts including fire and emergency services.
Data retrieved from US Census Bureau ZCTA-level tables.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
The primary anchor institution and cultural hub for the city of Monmouth.
A central community green space used for local events and recreation.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.