PORTLAND, Ore. — Towns with smaller populations don't always mean that housing there is inexpensive. Hood River and Astoria are among the 10 most expensive towns in the country, according to a recent study featured in a New York Times article.
LendingTree analyzed data from the U.S. Census Bureau American Community Survey to find "micropolitan" areas — or regions with a population of 10,000 and 50,000 — with the most expensive median home values. A total of six Oregon towns ranked among the 50 micropolitan areas in the U.S. that the study looked at. Below is a look at how they stack up.
Hood River
Ranking: No. 7 out of 50
Population: 23,965
Median home value: $492,500
Metro with comparable median home value: Portland, Oregon ($484,800)
Astoria
Ranking: No. 10 out of 50
Population: 41,190
Median home value: $407,700
Metro with comparable median home value: Austin, Texas ($390,500)
Prineville
Ranking: No. 16 out of 50
Population: 24,987
Median home value: $368,200
Metro with comparable median home value: Las Vegas, Nevada ($368,800)
Brookings
Ranking: No. 18 out of 50
Population: 23,404
Median home value: $353,200
Metro with comparable median home value: Baltimore, Maryland ($357,800)
The Dalles
Ranking: No. 25 out of 50
Population: 26,639
Median home value: $298,200
Metro with comparable median home value: Dallas, Texas ($299,000)
La Grande
Ranking: No. 39 out of 50
Population: 26,286
Median home value: $243,400
Metro with comparable median home value: New Orleans, Louisiana ($242,600)
What's behind expensive homes in some small towns?
The authors of LendingTree's report point out that there are many towns in the country with home values that are just as expensive, or even more costly, than those in large metro areas. Those towns are often popular vacation spots for people who can afford to spend more on homes, driving up prices in areas with limited housing supply. However, housing can still be expensive in towns that aren't vacation destinations due to a lack of housing supply, the authors wrote.
Editor's note: the analysis focused on micropolitan areas, which are named for their largest town or city but also include all nearby communities, similar to how the term "Portland metro area" includes cities like Beaverton and Gresham. As a result, the listed populations are significantly larger than the populations of the named towns alone.