What are average mortgage rates in Oregon in 2026?

Mortgage rates in Oregon generally track national averages. As of 2026, expect 30-year fixed rates from 5.5% to 7.5% for good credit borrowers. Use CalcDeck's Oregon mortgage calculator to model your payment at current rates.

How much are closing costs in Oregon?

Closing costs in Oregon typically range from 2% to 5% of purchase price, including lender fees, title insurance, and prepaid items. Use CalcDeck's Oregon mortgage calculator to include closing costs in your calculation.

What are property tax rates in Oregon?

Property tax rates in Oregon range from 0.3% to 2.5% of assessed value. CalcDeck's Oregon calculator includes property tax in your PITI payment.

What first-time homebuyer programs exist in Oregon?

Oregon offers down payment assistance, favorable-rate mortgages, and tax credits through state agencies. Use CalcDeck's Oregon calculator to see how programs affect your payment.

How do I use the CalcDeck Oregon mortgage calculator?

Enter home price, down payment, interest rate, and loan term. Adjust property tax and insurance to match Oregon averages. Get instant monthly payment, total interest, and amortization schedule.

Oregon Mortgage Calculator

Median home prices, property taxes, and monthly payment estimates for Oregon homeowners.

Oregon at a Glance

Median Home Price: $475,000
Property Tax Rate: 0.84%
Median Household Income: $76,732
Annual Property Tax: $3,990

Sources: Zillow ZHVI (2024), Tax Foundation (2023), US Census ACS (2023)

Monthly Mortgage Payment in Oregon

Based on the Oregon median home price of $475,000 at 6.7% interest (30-year fixed):

Payment Breakdown	20% Down	5% Down
Loan Amount	$380,000	$451,250
Principal and Interest	$2,452	$2,912
Property Tax (OR)	$332	$332
Homeowners Insurance	$125	$125
PMI	$0	$188
Total Monthly	$2,910	$3,557

How Much House Can You Afford in Oregon?

Using the 28/36 rule (housing costs under 28% of gross income):

With 20% down, you need ~$124,695/year to afford Oregon's median home
With 5% down, you need ~$152,457/year
Oregon's median household income is $76,732

Oregon insight: Oregon's property tax rate of 0.84% is near the national average.

Oregon Housing Market Overview

Oregon's housing market has cooled from peak highs but remains expensive. The statewide median of $475,000 reflects Portland at $520,000, Bend $650,000, Eugene $380,000, and Salem $390,000. Rural eastern Oregon offers value (e.g., Ontario at $225,000). Inventory is at 2.9 months. The median household income of $76,732 yields a price-to-income ratio of 6.2. The effective property tax rate of 0.84% is moderate, costing $3,990/year on a median home. Oregon has strict urban growth boundaries that limit sprawl, keeping prices elevated. Wildfire risk has grown dramatically, and insurance availability is tightening in the Cascades and southern Oregon.

First-Time Homebuyer Programs in Oregon

The Oregon Housing and Community Services (OHCS) offers the Oregon Bond Residential Loan program, providing 30-year fixed-rate mortgages with down payment assistance up to $15,000 as a 0% deferred loan. The Oregon Homeownership Stabilization Initiative provides emergency assistance to prevent foreclosure. OHCS also partners with local agencies for the Mortgage Credit Certificate (MCC) program, offering a 20% federal tax credit on mortgage interest. Local programs include Portland's Homebuyer Assistance Program ($30,000 grants for income-qualified buyers) and Bend's Affordable Housing Program ($15,000 assistance). Income limits: Multnomah County caps at $97,000 for a two-person household; rural counties cap at $72,000.

Tips for Homebuyers in Oregon

1) Oregon's 0.84% property tax means ~$333/month on a median home—budget for this plus high insurance in wildfire zones. 2) Wildfire insurance is becoming difficult to obtain in the Cascades and southern Oregon; get quotes before making an offer in Bend, Ashland, or the Columbia River Gorge. 3) Portland's market is competitive for homes under $500,000; expect escalation clauses and waived contingencies. 4) Buy in fall/winter for less competition and 3–5% price reductions. 5) Radon is elevated in the Willamette Valley; always test and budget $1,000–$1,500 for mitigation. 6) Urban growth boundaries mean limited new construction in Portland and Bend—expect to pay premiums for newer homes.

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Oregon Mortgage FAQ

What is the median home price in Oregon?

The median home price in Oregon is approximately $475,000 as of 2024 (Zillow ZHVI). Your actual price will vary by city and neighborhood.

What is the property tax rate in Oregon?

The effective property tax rate in Oregon is approximately 0.84% (Tax Foundation). On a $475,000 home, that is about $3,990/year in property taxes.

How much income do I need to buy a home in Oregon?

Using the 28/36 rule with 20% down at 6.7%, you would need about $124,695/year to afford the median Oregon home at $475,000. With 5% down (including PMI), about $152,457.

What will my monthly mortgage payment be in Oregon?

On Oregon's median home price of $475,000 with 20% down at 6.7%, your total monthly payment (P and I plus tax plus insurance) is approximately $2,910. With 5% down including PMI, about $3,557.

Data sources: Zillow ZHVI typical home values (2024), Tax Foundation effective property tax rates (2023), US Census Bureau ACS median household income (2023). Mortgage rate assumption: 6.7% APR 30-year fixed. This is an estimate — use our calculator for personalized numbers.