Why Redmond Is Outperforming Bend on Appreciation

Bend’s median price is constrained near the top — at $625,000, the pool of qualified buyers is smaller and appreciation slows. Redmond at $425,000 is still in the sweet spot where broad buyer demand meets limited supply. The appreciation math works: more buyers can afford $425K than $625K, and Redmond’s inventory is equally constrained. When supply is tight and demand is broad, prices move.

Redmond also benefits from the same Cascade Range lifestyle as Bend — Smith Rock State Park is 12 minutes from downtown Redmond, Mount Bachelor is 50 minutes, and the Crooked River canyon is essentially in the backyard. Outdoor-focused buyers who can’t afford Bend’s price tag are increasingly choosing Redmond and making the 18-minute commute when they need to.

The Airport Factor

Roberts Field (RDM) — officially Redmond Municipal Airport — is one of Central Oregon’s most underappreciated assets. Direct flights to Portland (PDX), Seattle (SEA), San Francisco (SFO), Los Angeles (LAX), and Phoenix (PHX) mean Redmond is genuinely accessible to out-of-state relocators and to professionals who need to travel for work. The airport serves both residents and the region — including Bend, which has no commercial airport of its own.

For remote workers who need to be on-site monthly or quarterly, direct access to an airport is a lifestyle non-negotiable. Redmond’s airport access without Bend’s price premium is a compelling argument.

New Development: What’s Coming

Redmond has been one of Oregon’s fastest-growing cities for the past five years. New commercial development along the US-97 corridor, expansion of the Deschutes County fairgrounds facilities, and growth in the manufacturing and tech sector (HP and other employers have significant Redmond presences) are bringing economic diversification that will support long-term value.

New residential subdivisions are under construction, but absorption rates have been strong — Redmond hasn’t overbuilt the way some Oregon markets did in 2022. The new homes are being bought and occupied quickly, which supports prices rather than diluting them.

The Investment Case

For investors, Redmond offers cap rates meaningfully higher than Bend because entry prices are lower while rental rates aren’t proportionally lower. A $425K Redmond home renting at $2,200–$2,500/month produces a better gross yield than a $625K Bend home at $3,000–$3,200/month. For STR investors, the airport proximity and Smith Rock access make Redmond a strong performer — visitors who can’t get a Bend booking often land in Redmond, and they’re not disappointed.