In Redmond, $500,000 buys a median-priced home — a 3-bedroom, 2-bath with a two-car garage, often built within the last decade. In Bend, that same budget puts you roughly $225,000 below the median price, narrowing your options to condos, townhomes, or older fixer-uppers. That gap tells one of the most important stories in Central Oregon real estate right now.
According to the latest Beacon Appraisal data, Bend’s median home price climbed to $725,000 in February 2026, rebounding from a brief winter dip to $680,000 in January. Meanwhile, Redmond’s median rose to $500,000 in March, up from $483,000 the month prior. The bottom line: Redmond delivers roughly 30% more purchasing power than Bend for a similar-quality home.
What $500K Gets You in Redmond
Redmond has quietly become one of the best-value markets in Central Oregon. At the $500,000 price point, buyers are finding newer-construction homes in established neighborhoods with 1,500 to 2,000 square feet of living space. Many come with modern finishes, energy-efficient systems, and usable yards — features that would cost you $650,000 or more in Bend.
Redmond’s inventory is also growing. Per Beacon’s March report, the city now has approximately 2 months of supply with 435 active listings, and average days on market sitting at 56. That gives buyers meaningful negotiating room and time to make thoughtful decisions rather than scrambling in a bidding war.
The city’s growth story adds long-term value, too. Major employers, expanding infrastructure, and new retail development are all contributing to a community that feels increasingly self-sufficient — not just a bedroom community for Bend.
What $500K Gets You in Bend
In Bend, $500,000 is well below the $725,000 median, so expectations need to adjust. At this price point, buyers are typically looking at condos or townhomes near the Old Mill District or in southeast Bend, smaller single-family homes in neighborhoods like Boyd Acres, or older homes that need updating.
That said, buying below the median in Bend has its own strategic advantages. You gain access to Bend’s lifestyle amenities — trail systems, breweries, schools, and the vibrant downtown — at a relative discount. And with Bend’s prices having nearly doubled over the past 20 years according to recent analysis from The Bulletin, even entry-level properties have historically appreciated well.
Bend’s current market shows 496 active listings with a median days on market around 66 days, per recent data. Well-priced homes are still moving quickly — some pending in under two weeks — but overpriced listings are sitting. For a $500K buyer in Bend, patience and precision matter.
The Mortgage Math
With 30-year fixed mortgage rates near 6.37% as of the latest Freddie Mac survey (April 9, 2026), here is a rough comparison assuming 10% down:
A $500,000 Redmond home with 10% down ($450K loan) runs approximately $2,812 per month in principal and interest. A $725,000 Bend home at the same terms ($652K loan) costs roughly $4,075. That is a $1,263 monthly difference — over $15,000 a year — that could go toward savings, investments, or simply enjoying life in Central Oregon.
Which One Is Right for You?
This is not a question with a universal answer. Bend offers a walkable lifestyle, more dining and cultural options, and a larger resale market. Redmond offers space, value, and a growing community that is coming into its own. Many buyers who start their search focused on Bend end up happily settled in Redmond once they see the difference in value — and realize the two cities are only 20 minutes apart.
The spring market is the best time to explore both options while inventory is climbing and before summer competition heats up.
Ready to see what your budget can buy in Central Oregon? Donnie Eggers at Nexus 360 Realty knows every neighborhood in Bend, Redmond, and Sisters — and can help you find the right fit for your lifestyle and budget. Reach out today for a personalized home search.
Donnie Eggers | Nexus 360 Realty
📞 (458) 256-2355
📧 [email protected]
🌐 nexus360realty.com
