CALCMONEY // HOME AFFORDABILITY // OR
Find out how much home you can afford in Oregon using local median home prices, current mortgage rates, and OR-specific property tax data.
Open Full Calculator$490,000
$3,182/mo
$202,276
$136,370/yr
| Median Home Price | $490,000 |
| Down Payment (20%) | $98,000 |
| Loan Amount | $392,000 |
| Monthly PI Payment | $2,582 |
| Monthly Property Tax | $396 |
| Monthly Insurance Est. | $204 |
| Total Monthly PITI | $3,182 |
| Required Gross Income (28% rule) | $136,370/yr |
| Max Affordable Price (28% rule) | $202,276 |
$17,150
$4,049/mo
Oregon Home Affordability Quick Reference 2026
| Metric | Value | Notes |
|---|---|---|
| Median Home Price | $490,000 | State median |
| Down Payment (20%) | $98,000 | Conventional |
| Monthly PITI (median home) | $3,182 | 6.9% rate |
| Required Income (28% rule) | $136,370 | Annual gross |
| Max Affordable Home | $202,276 | Based on median income |
| FHA Down Payment (3.5%) | $17,150 | Minimum FHA |
Monthly PITI includes principal, interest, property tax, and homeowners insurance.
The median home price in Oregon is $490,000, with a current 30-year fixed mortgage rate of 6.9%. A buyer putting 20% down on the median home would carry a loan of $392,000, resulting in a monthly principal and interest payment of $2,582. Once property taxes and insurance are added, total monthly housing costs reach $3,182.
Property taxes in Oregon average 0.97%, near the national average of 1.1%. On the median Oregon home, property taxes add $396/month to total housing costs.
Oregon levies a state income tax of 4.75%–9.9%, which affects take-home pay and therefore what you can realistically budget for housing. Mortgage interest may be deductible on both federal and Oregon state returns — consult a tax professional for your situation.
Using the 28% rule, a household earning Oregon's median income of $71,400/year can afford up to $1,666/month in total housing costs (principal, interest, taxes, and insurance). Based on Oregon's current mortgage rate of 6.9% and property tax rate of 0.97%, that translates to a maximum affordable home price of approximately $202,276 with 20% down on a 30-year loan.
To comfortably afford the median Oregon home priced at $490,000, you need an annual gross income of approximately $136,370. This is based on the standard 28% rule: your total monthly housing costs (principal and interest of $2,582, property taxes of $396, and insurance of $204) come to $3,182/month, which should not exceed 28% of your gross monthly income.
Oregon's average property tax rate is 0.97%, which is near the national average of 1.1%. On the median Oregon home of $490,000, that means annual property taxes of $4,753, or $396/month. Because lenders include property taxes in your debt-to-income calculation, Oregon's property taxes have a relatively modest impact on overall affordability.
The minimum down payment depends on your loan type. For an FHA loan, you can put down as little as 3.5% — on the median Oregon home of $490,000, that is $17,150. Conventional loans typically require 5% down, though some programs allow 3%. Putting down 20% ($98,000 on the median Oregon home) lets you avoid private mortgage insurance (PMI), which can add 0.5%–1% to your annual loan cost. There are no Oregon-specific minimum down payment requirements beyond federal guidelines.