PENDLETON — When Chad Patterson moved east from Portland, he became a homeowner.
He figures the three-bedroom, one-bathroom house he recently bought in Pendleton — his first — would have cost twice as much in Portland, about $300,000. That’s not a price the educator could have afforded in Oregon’s biggest city, especially while paying off loans he took out to get a master’s degree from Portland State University.
“If you come out without a bunch of heavy student loans, with a teacher salary in Portland, you might be able to buy a house,” he said.
Patterson, 37 and single, moved to Pendleton in February to teach in the behavioral services department for the InterMountain Education Service District. Comparing average four-bedroom, two-bathroom homes, two real estate companies say their statistics show Pendleton or nearby Hermiston as the least expensive housing markets in Oregon, the East Oregonian reports.
According to a Coldwell Banker report, the average house of that size in Pendleton costs $185,700. The national average is $292,100.
An average four-bedroom, two-bathroom home in Hermiston costs $140,000, said Patsy Keimig, principal broker for the Hermiston American West Properties branch.
Keimig said the Pendleton and Hermiston markets differ. Hermiston has newer homes, generally dating to the 1950s. Some Pendleton homes were built in the early 1900s.
The Coldwell Banker figures put Lake Oswego, Corvallis and Portland atop the Oregon markets, with average prices in the comparison ranging from the mid-$300,000s to the high $400,000s. Coos Bay and Woodburn are the second and third least expensive, at $186,600 and $188,000.