Estimated Monthly Payment — Median Oregon Home
$3,291
Based on $480,000 home · 20% down · 6.7% APR · 30-year fixed · taxes & insurance included
Median Price
$480,000
Property Tax
0.97%
Avg. HOA
$225/mo
Median Rent
$1,500/mo
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Estimate only. Not a loan offer, approval, pre-approval, or financial advice. Actual payments and terms may vary. Consult a licensed mortgage professional before making real estate decisions.
Market Insights
About the Oregon housing market
Oregon's housing market is above the national average, with a median home price around $480,000. Portland is the largest metro, with Eugene a close second. Oregon has no state sales tax and Portland-area home prices grew rapidly through the 2010s; recent moderation has improved affordability somewhat. Oregon's effective property tax rate of 0.97% is near the national average.
The median Oregon home costs $480,000. At today's average 30-year fixed rate (6.7%) with 20% down, principal & interest works out to roughly $2,478, and the total monthly payment including taxes, insurance, and average HOA comes to approximately $3,291. First-time buyers in Oregon can explore programs through Oregon HFA.
Photo by Brandon DesJarlais on Unsplash
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FAQ
Oregon mortgage FAQs
What's the property tax rate in Oregon?
Oregon's effective property tax rate averages about 0.97% — near the national average. On a $480,000 home, that's roughly $388/month or $4,656/year.
How much do I need to earn to afford a typical Oregon home?
Using the 28/36 rule, a buyer would need roughly $123,000–$158,000 in gross annual income to comfortably afford Oregon's $480,000 median home with 20% down at current rates.
What first-time buyer programs are available in Oregon?
OHCS offers the Oregon Bond Residential Loan with cash advantage option and Down Payment Assistance grants for buyers below 80% of area median income. Eligibility typically requires being a first-time buyer with income within program limits and completing homebuyer education.
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