Typical Oregon mortgage payment
The median home price in Oregon is roughly $500,000. Here's the estimated monthly principal & interest payment on that amount, by rate and term:
| Rate | 15-year | 30-year |
|---|---|---|
| 5.00% | $3,954 | $2,684 |
| 5.50% | $4,085 | $2,839 |
| 6.00% | $4,219 | $2,998 |
| 6.50% | $4,356 | $3,160 |
| 7.00% | $4,494 | $3,327 |
| 7.50% | $4,635 | $3,496 |
| 8.00% | $4,778 | $3,669 |
| 8.50% | $4,924 | $3,845 |
| 9.00% | $5,071 | $4,023 |
| 9.50% | $5,221 | $4,204 |
| 10.00% | $5,373 | $4,388 |
What a Oregon mortgage really costs (PITI)
Principal & interest alone would run about $3,160/month at 6.50% over 30 years. But Oregon's property tax - roughly 1.09% of home value per year here - adds about $454/month, and estimated homeowners insurance adds around $146/month. Your real total monthly payment (PITI) on a $500,000 Oregon home is closer to $3,760/month.
Using the standard 28%-of-income guideline, comfortably affording this home takes a household income around $161,157/year. A 20% down payment here is $100,000.
Oregon vs. its neighbors
Of Oregon and its neighbors, Nevada has the lowest estimated total monthly payment - about $560 less per month than Oregon.
| State | Median price | Property tax rate | Est. total monthly (PITI) |
|---|---|---|---|
| Idaho | $450,000 | 0.69% | $3,234/mo |
| Nevada | $450,000 | 0.60% | $3,201/mo |
| Oregon (this page) | $500,000 | 1.09% | $3,760/mo |
| Washington | $600,000 | 0.98% | $4,457/mo |
| California | $765,000 | 0.75% | $5,537/mo |
What affects your Oregon payment?
- Property tax above is a statewide estimate - your county's actual rate may differ.
- Down payment: 20% down avoids private mortgage insurance (PMI).
- Loan term: a 15-year loan saves enormous interest vs. 30 years.
Median price, property tax rate and insurance are approximate estimates, not county-specific figures. Not financial advice.