Redmond Rental Market: April 2026 Update

Redmond has spent the last few years quietly becoming one of Central Oregon’s most interesting rental markets. It is not the headline city, that title belongs to Bend, but the fundamentals here are doing exactly what investors and landlords want them to do: steady rent growth, fast lease-up times, constrained supply, and a population that keeps showing up.

The Redmond rental market April 2026 update is, in a word, encouraging. Single-family rents rose for the first time in several months, days on market tightened, and the supply pipeline is sending mixed signals that, on balance, favor existing single-family landlords. Below is a friendly walkthrough of what actually happened in April, what the numbers mean, and where things look to be heading.

The Headline Numbers for Redmond SFH

April brought the first meaningful rent bounce in months. Average SFH in-place rent climbed to $2,458, up $63 (+2.6%) month-over-month and $58 (+2.4%) year-over-year. Available listings stayed thin at 36 units, days on market tightened to 59, and estimated functional vacancy held around 6.5%.

That MoM jump is the most important number on the page. After several months of seasonal cooling that pulled average rents off their summer 2025 peak of around $2,610, the bounce is well above the +0.7% pace multifamily logged in the same window.

For context on independent data, Apartments.com puts the Redmond house rental average around $2,560, Rentable shows roughly $2,390 for active house listings, and Zillow currently displays 37 SFH listings inside city limits. Different platforms slice the data differently, but the directional read is consistent: Redmond’s single-family rents are sitting in the mid-$2,400s to mid-$2,500s, and supply is thin.

Rent Growth: A Spring Reset, Not a Reversal

Looking at the trailing 16-month trend tells a more useful story than any one snapshot. SFH rents in Redmond peaked in summer 2025 around $2,610, drifted lower through fall and winter as seasonal demand softened, bottomed in early 2026, and then turned upward in April.

The peak-to-trough decline was about $152, or roughly 5.8%. That is a healthy seasonal correction, not the start of a rent collapse. Compare it to the volatility we saw during 2021 and 2022, when Bend MSA rents jumped double digits in a single year, and the picture today looks much more like a normal market behaving normally.

The +2.4% year-over-year reading is also worth pausing on. It is below Oregon’s 9.5% statutory rent cap for 2026, which means most Redmond SFH owners have meaningful headroom to raise rents on existing tenants without bumping into the ceiling. The cap, established under ORS 90.323, applies to most rental properties older than 15 years, and as Oregon Capital Chronicle reported, 9.5% is the second-lowest cap since rent stabilization went into effect in 2019.

For deeper context on how this month’s bounce fits into the broader trajectory, our Redmond Rental Market Q1 2026 report walks through the quarter that immediately preceded April’s recovery, including the asking-vs-in-place rent inversion that helped set up today’s repricing.

Vacancy and Days on Market: The Real Story

Direct vacancy data for single-family homes in Redmond is genuinely hard to come by. The CoStar and PAROA datasets that drive a lot of regional reporting focus on multifamily. To estimate SFH vacancy, we need to triangulate.

With 36 active SFH listings in a city that holds an estimated 4,700 single-family rental units (based on Redmond’s roughly 13,500 housing units, the Census-reported 37.7% renter share, and the typical SFH share of the rental stock), straight available-listing math points to a vacancy rate in the 6 to 7% range. The 59-day DOM-based estimate of 6.5% lines up almost exactly.

Six and a half percent is healthy. It is in the normal range for SFH markets, where natural turnover friction (screening, move-out coordination, make-ready work) typically produces vacancies between 5 and 8%. It is not a sign of weak demand. The 59-day marketing window confirms that.

What is interesting is how SFH compares to multifamily this month:

• SFH days on market: 59
• Multifamily days on market: 68
• Broader SFR database DOM: 89

SFH is moving 13% faster than apartments and 34% faster than the broader rental database, which captures older single-family stock and small multifamily duplexes and triplexes. That speed advantage is meaningful, and it tells us something specific: tenants in Redmond are paying a premium for detached homes with yards, garages, and privacy, and they are choosing to do so even in a market where apartments are now offering visible move-in concessions.

What’s Happening with Tenancy Length

Direct SFH tenancy data is also a gap. The cleanest proxy is Redmond’s multifamily retention rate, which sits around 60.9%, implying an average multifamily tenancy of roughly 20 months.

SFH tenants almost always stay longer. They are more often families with children, they have more belongings to move, they often coordinate with school calendars, and the friction of relocating from a 2,000-square-foot home is meaningfully higher than moving out of an apartment. National data from the National Multifamily Housing Council consistently shows SFH tenancies running about a year longer than multifamily.

For Redmond, a reasonable working estimate is 24 to 30 months average tenancy for single-family rentals. That has real implications for how owners should think about pricing and renewals:

• Annual rent escalators of 2 to 3% (or CPI-linked increases) are far better than letting a tenant sit at the same rent for three years and then trying to catch up to market all at once
• The cost to lose a quality tenant (60 days vacancy plus turn costs) almost always exceeds the gain from pushing renewal increases too aggressively
• If your tenant has been there two-plus years, an annual renewal review is overdue

We dig into the full economics of turnover in our guide on how to reduce rental vacancy rates, which lays out the eight strategies that move the needle most for SFH owners.

The Multifamily Backdrop

Multifamily matters for SFH owners because it sets the affordability floor and shapes where price-sensitive renters end up. Here is the April 2026 read on Redmond apartments:

• Average MF rent: $1,800 (+$13 MoM, +$84 YoY, +4.9%)
• Vacancy: 6.2% (up from 2.5% a year ago)
• Days on market: 68 days (down from 86 in March)

Two things stand out. First, multifamily rent growth is actually stronger than SFH on a YoY basis. That is mostly catch-up: apartments lagged single-family during the post-pandemic period and are now closing the gap. Second, MF vacancy nearly tripled year-over-year. That is not a Redmond-specific problem, it is the long tail of the 2022 to 2025 multifamily construction wave that hit Central Oregon and the broader Pacific Northwest. CoStar and others have documented similar absorption challenges in Bend’s apartment market.

The implication for SFH owners is straightforward. Apartments are competing harder for tenants, often with concessions like a free month or reduced deposits. Some price-sensitive renters who would historically have stretched into a single-family home are choosing the apartment plus the savings. But the 13% DOM advantage SFH still enjoys says that many tenants who can pay the SFH premium continue to choose space and privacy over savings.

The April Story: Regulation, Supply, and a State Watchdog

Every monthly report tries to identify the metric or event that is actually driving the narrative. For Redmond in April 2026, that story is regulatory, and it could not be more relevant for SFH owners.

In early April, the Oregon Housing Accountability and Production Office (HAPO) issued a “warning notice of potential violation” to the City of Redmond. It was the first enforcement action of its kind in the state. The dispute, as reported by The Source, centered on Redmond’s proposed code changes that would have:

• Increased townhome alley setbacks from 5 feet to 20 feet
• Widened required alleys from 16 feet to 20 feet
• Required developments over 50 units to consolidate at least 6,000 square feet of open space

Builders argued the changes would cut middle-housing density by up to 20% and seriously damage affordability. HAPO agreed in substance, intervening to require Redmond to revise the proposal and maintain compliance with state-mandated middle housing rules.

Why this matters for SFH landlords: the middle-housing segment (townhomes, duplexes, fourplexes) is the most direct competition for single-family rentals. When rules slow down townhome production, demand spills upward into SFH and downward into apartments. Combined with permit data showing SFR permits down 26% YoY and multifamily permits down 23%, Redmond is on track to produce roughly 374 units this year against an Oregon Housing Needs Analysis target of 512 homes per year.

That undersupply is a tailwind for existing landlords through 2027 and 2028.

What’s Happening with Northpoint Vista

The other supply story worth tracking is Northpoint Vista, the 40-acre, 447-unit mixed-income development on Redmond’s northeast side. Recent rule changes from the Land Conservation and Development Commission allow market-rate construction to begin before affordable units are completed, which unblocks Pahlisch Homes to break ground on the market-rate portion in summer 2026.

For SFH owners, this is mostly an apartment-side story. Most of those 447 units will be multifamily, with affordable single-family ownership sprinkled in. As units deliver in 2027 and 2028, MF vacancy will likely tick up further before absorbing. Premium SFH demand should be largely insulated.

Worth noting: two other Redmond affordable projects, including Habitat for Humanity’s Ward Commons, were passed over for state funding and may not reach the market until 2032 instead of 2026. That is another constraint on the entry-level homeownership pipeline, which keeps more would-be buyers in the rental pool.

Population and Economic Context

Redmond’s underlying demand fundamentals continue to support the rental market. According to Portland State University’s Population Research Center estimates reported by The Bulletin, Redmond’s population grew 1.97% in 2025 to 38,199 people. World Population Review’s 2026 estimate puts the city at 39,552 with continued 2.5% annual growth, making it one of the faster-growing small cities in Oregon.

Deschutes County added about 2,700 residents over the year ending July 2025, the second-fastest county growth rate in the state. That is real, sustained demand for housing, even as growth has cooled from the pandemic-era highs.

Median household income in Redmond sits around $84,000, modestly below Bend but well-positioned against a $2,458 SFH rent. That works out to roughly a 35% rent-to-income ratio at the median, which is at the upper end of comfortable affordability and worth watching as a constraint on future rent growth.

What This Means for Redmond SFH Landlords

A few practical takeaways for owners and investors active in the Redmond rental market April 2026:

The seasonal window is open. April through August is when Redmond’s rental demand is strongest. If you have a vacant unit or a renewal coming up, this is the time to push pricing carefully toward market.

Test renewal increases of 3 to 5% on quality tenants. With Oregon’s cap at 9.5% and current YoY rent growth at 2.4%, there is meaningful room. The math on retention almost always favors moderation, but underpricing a long-term tenant is also costly. A market-rate review on every renewal is the right discipline.

Lock in length. Eighteen to 24-month leases with built-in escalators (2 to 3% annually or CPI-linked) capture market-rate strength while reducing turnover. With 59-day DOM, every avoided turn is meaningful cash flow.

Quality keeps winning. The 30-day DOM gap between Zillow’s premium SFH listings and the broader SFR database tells the story. Newer builds, modern fixtures, fresh paint, and clean curb appeal are leasing 34% faster than older stock.

Don’t sell into the seasonal trough. Median SFH sale prices in Redmond sit around $487,000, with home values up 1.6% YoY. Combined with permit declines and the regulatory backdrop, this looks like a market to hold quality assets through 2027 and 2028.

The Bottom Line

The Redmond rental market April 2026 read is a healthy one. SFH rents are growing modestly, properties are leasing efficiently, supply is constrained, and regulatory friction is slowing the production pipeline that would otherwise pressure existing landlords. None of those conditions feel dramatic on any given week, but they compound nicely.

Risks worth watching are an affordability ceiling at the median income line, the eventual absorption of Northpoint Vista multifamily units in 2027 and 2028, and the broader Bend MSA economic cycle. None are alarming today.

For owners with quality SFH inventory, this is a market to optimize pricing, retain good tenants, and lean into the structural undersupply story. For a parallel look at Redmond’s larger neighbor, see our Bend Rental Market April 2026 update.

Navigating the Redmond rental market April 2026 takes consistent local data, careful renewal pricing, and the discipline to manage tenants like long-term partners. At Legacy Property Management, we focus exclusively on Bend, Redmond, and Sisters, and we monitor SFH comps weekly so our owners know exactly where their property stands. If you’d like a current rent review, a portfolio conversation, or simply an honest second opinion on whether your Redmond rental is priced right, reach out today. We’d be glad to help.