Commercial Real Estate Market in Happy Valley, OR
Updated monthly: sale, lease, property records, location trend, and more… · Last update: September 30
63 active listings and 279 off-market properties in Happy Valley, OR. Commercial property asks $2,712/SF to buy and $30.00/SF/Yr to lease.
Market Trends
Happy Valley, OR spans 19.3 square miles in Clackamas County, Oregon. Figures below refresh monthly; last updated 30 September 2026.
Office
Office vacancy in Happy Valley, OR runs 20.8% across the West region in 2025, up from 11% in 2019.
Vacancy Rate % in West region
Retail
Retail vacancy in Happy Valley, OR runs 5.8% across the West region in 2025, down from 7% in 2020.
Vacancy Rate % in West region
Industrial
Industrial vacancy in Happy Valley, OR runs 7.9% across the West region in 2025, up from 3.7% in 2019. Nearly 3.2x the 2022 low of 2.5%.
Vacancy Rate % in West region
Multifamily
Multifamily vacancy in Happy Valley, OR runs 8.6% across the West region in 2025, up from 7% in 2022.
Vacancy Rate % in West region
Market overview
Demographics & Economy
Happy Valley, OR has 55,877 residents in 22,860 households. Density runs 2,894 people per square mile. Median household income here is $94,378 and median gross rent $1,673 a month.
55,877
Population
22,860
Households
2.4
Avg Household Size
38
Median Age
38%
College-Educated
94%
High-School Grad
19.3 sq mi
ZIP Area
2,894
Density / Sq Mi
$94,378
Median Household Income
$49,468
Median Earnings
$1,673
Median Rent
$587,250
Median Home Value
Tools
Nearby Markets
Commercial property in Happy Valley, OR asks $2,712/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Happy Valley?
Commercial property in Happy Valley, OR asks an average of $2,712 per square foot. The 3 most recent recorded sales traded at a median of $328/SF, so asking sits 727% above the achieved median.
How much does it cost to lease commercial space in Happy Valley?
Asking lease rates in Happy Valley, OR average $30.00 per square foot per year.
Where does Realmo's Happy Valley market data come from?
Realmo compiles Happy Valley, OR figures from 8 recent recorded sales, 47 active sale listings, 16 active lease listings, 279 tracked off-market properties. Sale and lease figures refresh monthly; vacancy annually. Last updated 30 September 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 47 active for-sale and 16 active for-lease listings in Happy Valley, OR. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Refresh
- The monthly aggregates close at the end of the previous month, so 30 September 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at West region level, retail vacancy is reported at West region level, industrial vacancy is reported at West region level and asking prices run materially above recent closed pricing.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 30 September 2026 · report a data issue
