Investor-friendly real estate agents in Bend, OR
We match investors with vetted Bend-area agents who own rentals, run the numbers, and know the local rules. Free for investors.
Get matched in BendVetted investor agents across the Bend metro
Bend is a lifestyle market, not a cash-flow market. Typical home values in the Bend metro are about $659,000 and typical rent about $2,220, which works out to about 0.34% a month, a third of the 1% rule. Prices are about 8% below their June 2022 peak and slightly down over the past year, while rents are up about 3%. People keep moving in: net domestic migration has been positive every year since 2021, and jobs are about 11% above 2019. Oregon caps rent increases and limits no-cause terminations statewide, and Bend permits short-term rentals by type, with a 500-foot spacing rule for new whole-house rentals in most residential zones. Our vetted agent partner is an Oregon native and an investor with 15 rentals of her own, and works on flips, long-term rentals and vacation rentals across Central Oregon.
Short-term rental purchases in Bend and the resort areas around it, from an agent who owns rentals herself. Bend's permit types and 500-foot spacing rule decide which homes qualify.
Flip purchases across Central Oregon from an agent-investor who does them herself.
Long-term rentals from an agent who owns 15 rental properties, so she underwrites like an owner, not just a buyer's agent.
Is Bend worth investing in? The long-term trends
People, jobs, rents and prices for the Bend metro, straight from the Census Bureau, the Bureau of Labor Statistics and Zillow. Hover or tap a chart for exact values.
View data table
| Period | Value |
|---|---|
| 2020 | 248,976 |
| 2021 | 256,146 |
| 2022 | 258,131 |
| 2023 | 261,120 |
| 2024 | 264,207 |
| 2025 | 266,376 |
View data table
| Period | Value |
|---|---|
| 2021 | +7,562 |
| 2022 | +1,835 |
| 2023 | +2,550 |
| 2024 | +2,496 |
| 2025 | +2,026 |
View data table
| Period | Value |
|---|---|
| 2010 | 71,800 |
| 2011 | 71,900 |
| 2012 | 73,100 |
| 2013 | 76,500 |
| 2014 | 80,800 |
| 2015 | 85,900 |
| 2016 | 90,800 |
| 2017 | 94,100 |
| 2018 | 97,500 |
| 2019 | 100,100 |
| 2020 | 96,000 |
| 2021 | 100,700 |
| 2022 | 104,600 |
| 2023 | 108,600 |
| 2024 | 111,000 |
| 2025 | 110,800 |
View data table
| Period | Value |
|---|---|
| Dec 2015 | $1,166/mo |
| Dec 2016 | $1,275/mo |
| Dec 2017 | $1,331/mo |
| Dec 2018 | $1,411/mo |
| Dec 2019 | $1,496/mo |
| Dec 2020 | $1,740/mo |
| Dec 2021 | $1,932/mo |
| Dec 2022 | $1,997/mo |
| Dec 2023 | $2,059/mo |
| Dec 2024 | $2,062/mo |
| Dec 2025 | $2,148/mo |
| Sep 2026 | $2,218/mo |
View data table
| Period | Value |
|---|---|
| Dec 2010 | $210,931 |
| Dec 2011 | $199,782 |
| Dec 2012 | $219,014 |
| Dec 2013 | $264,443 |
| Dec 2014 | $294,779 |
| Dec 2015 | $333,146 |
| Dec 2016 | $362,386 |
| Dec 2017 | $387,446 |
| Dec 2018 | $417,209 |
| Dec 2019 | $436,207 |
| Dec 2020 | $493,501 |
| Dec 2021 | $645,793 |
| Dec 2022 | $660,920 |
| Dec 2023 | $675,875 |
| Dec 2024 | $684,195 |
| Dec 2025 | $665,281 |
| Sep 2026 | $658,500 |
View data table
| Period | Value |
|---|---|
| Dec 2015 | 23.8× |
| Dec 2016 | 23.7× |
| Dec 2017 | 24.3× |
| Dec 2018 | 24.6× |
| Dec 2019 | 24.3× |
| Dec 2020 | 23.6× |
| Dec 2021 | 27.9× |
| Dec 2022 | 27.6× |
| Dec 2023 | 27.4× |
| Dec 2024 | 27.7× |
| Dec 2025 | 25.8× |
| Sep 2026 | 24.7× |
Data retrieved October 16, 2026. Figures cover the Bend metro area.
The numbers and rules that matter in Bend
Zillow Home Value Index, Bend metro, Sep 2026 (−0.7% YoY).
Zillow Observed Rent Index, all home types, Sep 2026 (+3.1% YoY). Single-family 3-beds rent higher.
Typical rent ÷ typical home value. Well under the 1% rule; plan on cash flow from buying right, not from rents.
Over the past year: home values −0.7%, rents +3.1%.
Oregon landlord-tenant basics
Oregon is one of the most tenant-friendly states. The rules are in ORS chapter 90 and apply in Bend the same as everywhere else in the state. The points investors ask about most:
- Statewide rent cap (ORS 90.323): after the first year, rent can go up once every 12 months, with at least 90 days' written notice, and by no more than 7% plus inflation or 10%, whichever is lower (SB 611, 2023). The state Office of Economic Analysis sets the number each year: 9.5% for 2026. Units whose first certificate of occupancy is less than 15 years old, and some regulated affordable housing, are exempt.
- Limits on no-cause terminations (ORS 90.427, from SB 608 in 2019): in the first year a month-to-month tenancy can be ended without cause on 30 days' notice. After the first year, you need tenant cause or a qualifying landlord reason (such as selling to a buyer who will live there, moving in yourself or a family member, or major renovation or demolition), at least 90 days' notice, and a payment of one month's rent, unless you own four or fewer units. An owner who lives in a two-unit property has more leeway.
- Nonpayment (ORS 90.394): a 10-day notice served no earlier than the 8th day of the rental period, or a 13-day notice served no earlier than the 5th day. Week-to-week tenancies get 72 hours.
- Deposit return (ORS 90.300): refund the deposit, or give a written itemized accounting, within 31 days after the tenancy ends and the tenant moves out.
- Entry (ORS 90.322): at least 24 hours' notice, at reasonable times, except in an emergency.
Short-term rental rules in Bend
Inside Bend city limits, a short-term rental needs a land use permit from the city and then an annual operating license. Which permit you can get depends on how the home is used:
- Type I infrequent: a whole house rented no more than four times a year, for fewer than 30 days in total. Type I owner-occupied: up to two bedrooms in the main house while the owner is home, with no day limit.
- Type II whole house: a whole-house rental beyond the Type I limits. For applications received on or after November 18, 2022 in the RL, RS, RM, RH and MR zones outside the Old Mill District, there must be at least 500 feet between permitted whole-house rentals. The city's eligibility map shows which lots qualify.
- After the land use permit, you have 60 days to apply for the operating license. You also have to give 24/7 emergency contact information to neighbors within 250 feet, and post a small sign.
- Bend charges a 10.4% room tax. File a report every month (or quarter, for small amounts) even when Airbnb or VRBO remits the tax for you, because the city uses those reports to renew your license.
- Oregon's state lodging tax is 1.5% for stays ending by December 31, 2026, and rises to 2.75% for stays ending on or after January 1, 2027 (HB 4134). Stays of 30 days or more are exempt.
- Sunriver, Black Butte and other areas outside city limits follow Deschutes County rules and their own covenants. Check the CC&Rs on any property before you buy for STR.
Last reviewed October 16, 2026. General information, not legal or tax advice — rules and fees change, so confirm with the city, the statute, or your attorney before you rely on them. Sources: Zillow Research data (ZHVI, ZORI) — Bend metro; ORS chapter 90 — Residential Landlord and Tenant; Oregon Legislative Policy and Research Office — Landlord-Tenant Rights and Responsibilities; SB 611 (2023), enrolled — rent increase cap; SB 608 (2019), enrolled — just-cause terminations and rent cap; Oregon Office of Economic Analysis — Rent stabilization; Oregon DAS — Correction: 2026 rent stabilization percentages; City of Bend — Short term rental permits and licenses; City of Bend — Short term rental type designations guide; City of Bend — 2022 short term rental code amendments explained; City of Bend — How to register and submit room tax; City of Bend — Short term rental eligibility tool; Oregon Department of Revenue — Transient lodging tax.
Before you make an offer on a rental property, you need more than a gut feeling. Here is the step-by-step framework serious investors use to stress-test a deal on paper first.
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Questions investors ask about Bend
Which areas does your Bend agent cover?
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Our vetted agent partner covers Bend and Central Oregon, including Redmond, Sisters, Sunriver, La Pine, Prineville, Terrebonne and Black Butte, plus Klamath Falls. She's an Oregon native, licensed since 2014, and owns 15 rental properties. Tell us your strategy, budget and target area and we'll match you.
Is Bend a good market for cash-flowing rentals?
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Not at median prices with a mortgage. Typical rent-to-price in the Bend metro is about 0.34% a month, a third of the 1% rule. People and jobs keep coming, but prices are still about 8% below their 2022 peak. Investors here usually buy below median and add value, run a permitted vacation rental, or hold long term with more cash down.
Can I run an Airbnb in Bend?
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Yes, with a city land use permit and an annual operating license. A whole-house rental used more than a few weeks a year needs a Type II permit, and in most residential zones outside the Old Mill District new Type II rentals must be at least 500 feet from another permitted whole-house rental. You also pay Bend's 10.4% room tax plus Oregon's state lodging tax. Areas outside city limits, like Sunriver, follow county rules and their own covenants.
Is Oregon landlord-friendly?
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No. Oregon caps rent increases statewide (9.5% for 2026, with an exemption for buildings less than 15 years old), limits no-cause terminations after the first year, and requires a one-month rent payment for many landlord-reason terminations unless you own four or fewer units.
Can I invest in Bend if I live out of state?
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Yes, but STR eligibility is lot by lot here, so local knowledge matters. Pick an agent who checks the city's eligibility map and the CC&Rs before you offer, walks properties for you, and connects you with a property manager.
What does it cost to get matched with a Bend agent?
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Nothing. Agents Invest is free for investors. The agent pays us a referral fee only if you close a deal with them.
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