Oregon is the ninth largest state by area, with a population of 4,217,737 (U.S. Census Bureau, July 1, 2019). Throughout history, the state of Oregon has been shaped and defined by these milestones. For 10,000 years, Native American tribes established the first settlements in Oregon before the arrival of European settlers. After the Lewis and Clark expedition during the 1800s, it was the Oregon Trail that allowed American pioneers to set up settlements throughout the entire state. During this time, the United States agreed to establish a joint settlement in Oregon with the British. The British acquired the territory north of the 49th parallel, which would later become part of Canada. Oregon's earlier economic growth depended on harvesting timber and wheat.
Today, Oregon's economy has a GDP of $253 billion (Bureau of Economic Analysis, July 1, 2018), which is driven by these top industries: trade, government, education and health services, professional services, and manufacturing. Many of the leading Fortune 500 companies have their headquarters in Oregon, including Nike, Precision Castparts Corp., and Lithia Motors Inc., to name a few.
The most recognized cities in Oregon are Portland, Salem, and Eugene.
Portland is in the northwestern part of Oregon and has a population of 630,331. Portland is home to the Portland Japanese Garden, Pittock Mansion, Washington Park, Oregon Zoo, and International Rose Test Garden. Over the last ten years, Portland, Oregon, home values have appreciated by 60.58%. When compared to the rest of the U.S., Portland, Oregon, housing prices are more expensive, with the median home price of $352,700 and a median rent of $1,109.
Salem is the state capital, just 45 miles south of Portland, and has a population of 163,654. Salem is home to the Oregon Garden, Riverfront City Park, and Oregon State Capitol. Over the last ten years, Salem's home values have appreciated by 45.29%. When compared to other states, Salem's housing prices are substantially higher, with the median home price of $201,900 and a median rent of $861.
Eugene resides in the western part of Oregon and has a population of 163,135. Eugene is home to the Skinner Butte Park, Alton Baker Park, and Cascades Raptor Center. Over the last ten years, Eugene's home values have appreciated by 36.51%. When compared to other real estate markets, Eugene's housing prices are higher, with the median home price of $257,200 and a median rent of $956.