Happy Valley, OR housing market
The typical Happy Valley home is worth about $679,000, about the same as a year ago, 37% above the Oregon typical home. Homes typically sell in 17 days, close to asking.
Home values, sales, trends and how Happy Valley compares with the towns next door — updated as new data is published.
Happy Valley at a glance
A seller's market
Supply is tight — about 2.8 months of homes for sale at the current pace. Buyers should expect competition on well-priced homes.
Typical home value, 2016–2026
Show as a table
| January | Happy Valley | Oregon |
|---|---|---|
| 2017 | $456,000 | $313,000 |
| 2018 | $480,000 | $337,000 |
| 2019 | $495,000 | $354,000 |
| 2020 | $505,000 | $369,000 |
| 2021 | $558,000 | $411,000 |
| 2022 | $658,000 | $480,000 |
| 2023 | $672,000 | $490,000 |
| 2024 | $679,000 | $495,000 |
| 2025 | $691,000 | $504,000 |
| 2026 | $687,000 | $500,000 |
| August 2026 | $679,000 | $496,000 |
350 new homes permitted in 2025
Builders were permitted 350 new homes in Happy Valley in 2025: 176 single-family houses and 174 in buildings with two or more homes, worth about $99.3 million to build. That's 13 per 1,000 residents, faster than across Oregon (3.8). Over the past 10 years, Happy Valley has permitted 3,997 homes in all.
Homes vs. people, 2010–2020
Between the 2010 and 2020 censuses, Happy Valley gained 9,830 residents while 2,843 new homes were permitted: about 3.5 new residents per new home. Building and growth moved roughly in step. Across Oregon: 2.6 new residents per new home.
How Happy Valley ranks on housing keeping up with growth →
Residents: U.S. Census Bureau, 2010 and 2020 censuses. New homes: permits issued 2010–2019.
Show as a table
| Year | New homes | Single-family | 2+ per building | Value |
|---|---|---|---|---|
| 2026 (Jan–Aug) | 154 | 154 | 0 | $63.5 million |
| 2025 | 350 | 176 | 174 | $99.3 million |
| 2024 | 165 | 165 | 0 | $60.4 million |
| 2023 | 206 | 206 | 0 | $81.3 million |
| 2022 | 834 | 292 | 542 | $170.1 million |
| 2021 | 381 | 381 | 0 | $126.1 million |
| 2020 | 659 | 443 | 216 | $171.7 million |
| 2019 | 425 | 259 | 166 | $105.2 million |
| 2018 | 163 | 163 | 0 | $54.7 million |
| 2017 | 225 | 154 | 71 | $64.4 million |
| 2016 | 589 | 281 | 308 | $112.5 million |
| 2015 | 356 | 317 | 39 | $94.8 million |
| 2014 | 354 | 354 | 0 | $105.6 million |
| 2013 | 309 | 309 | 0 | $96 million |
| 2012 | 200 | 200 | 0 | $58.9 million |
| 2011 | 151 | 151 | 0 | $40.9 million |
| 2010 | 71 | 71 | 0 | $21.4 million |
| 2009 | 70 | 70 | 0 | $18.7 million |
| 2008 | 95 | 95 | 0 | $22.2 million |
| 2007 | 256 | 256 | 0 | $76.2 million |
| 2006 | 551 | 388 | 163 | $149.7 million |
| 2005 | 566 | 566 | 0 | $187.3 million |
| 2004 | 216 | 216 | 0 | $68.3 million |
| 2003 | 224 | 224 | 0 | $61.6 million |
| 2002 | 184 | 184 | 0 | $54.2 million |
| 2001 | 159 | 159 | 0 | $41.6 million |
| 2000 | 87 | 87 | 0 | $22.2 million |
How Happy Valley ranks on new homes being built →
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey, through August 2026.
Happy Valley and its neighbors
5.6 years of income
The typical Happy Valley home costs about 5.6 years of the town's median household income, less than across Oregon (6 years).
How Happy Valley ranks on affordability →
Home value ÷ ACS median household income.
Owners, rent & taxes
U.S. Census Bureau, ACS 2020-2024.
A two-bedroom rents for about $2,100
HUD's Fair Market Rent for a two-bedroom in Happy Valley is $2,100 a month, utilities included: roughly what a modest, recently rented unit costs. Renters already in Happy Valley pay a median of $2,029. A two-bedroom takes about 21% of the town's median household income.
Studio $1,720 · 4 bedrooms $3,400
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (97015, 97086, 97089; Portland-Vancouver-Hillsboro, OR-WA MSA), weighted by land area. A Fair Market Rent is the 40th-percentile rent plus utilities for a standard unit. Median rent: U.S. Census Bureau, American Community Survey.
Home values: Zillow Home Value Index (ZHVI), Zillow Research, August 2026. Sales, days on market and supply: Redfin Data Center, May 2026. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. New homes: U.S. Census Bureau, Building Permits Survey. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers.