Mortgage Calculator in Oregon

Calculate your monthly mortgage payment in Oregon using the 2026 median home price of $490K and current local rates. Adjust the inputs below to match your situation.

Oregon Housing Market at a Glance (2026)

$490K

Median Home Price

6.82%

Avg Mortgage Rate

0.97%

Property Tax Rate

12%

Typical Down Payment

Buying a Home in Oregon: Costs to Know

Average closing costs1.4% of purchase price

On a $490K home, closing costs ≈$6,860

Median household income$72,000/yr

State income tax (top rate)9.9%

First-Time Buyer Programs in Oregon

Oregon offers state-sponsored programs that can reduce your down payment or closing costs:

✓Oregon Bond Residential Loan
✓Cash Advantage Program

How Mortgage Payments Work in Oregon

A standard mortgage payment in Oregon is calculated using the amortization formula:M = P[r(1+r)^n] / [(1+r)^n - 1]

Where P is the loan principal, r is the monthly interest rate (annual rate ÷ 12), and n is the number of monthly payments. On a $490K home in Oregon with a 12% down payment at 6.82% over 30 years, your principal and interest payment comes to approximately $2,817/month— not including property taxes or homeowner's insurance.

Oregon's property tax rate of 0.97% adds roughly $396/month to your total housing cost on a $490K home. This rate is near the national average of ~1.1%.

Oregon vs. National Average

Metric	Oregon	National Avg
Median Home Price	$490,000	$420,000
Property Tax Rate	0.97%	1.07%
Avg Mortgage Rate	6.82%	6.85%
Cost of Living Index	117	100

Frequently Asked Questions — Mortgage Calculator in Oregon

What is the average mortgage payment in Oregon?+

Based on the median home price of $490K in Oregon with a 12% down payment and 6.82% rate (30-year fixed), the estimated monthly principal and interest payment is approximately $2,817. Adding property taxes (~$396/mo) and homeowner's insurance, total PITI is typically $3,363–$3,463/month.

What is the property tax rate in Oregon?+

Oregon has an average effective property tax rate of 0.97%. On the median home price of $490K, that equals roughly $4,753 per year — or $396 added to your monthly mortgage payment. This is near the national average of ~1.1%.

How much down payment do I need to buy a home in Oregon?+

The typical down payment in Oregon is 12% — about $58,800 on the median $490K home. Conventional loans require as little as 3% down; FHA loans allow 3.5%. First-time buyers may also qualify for assistance through programs like Oregon Bond Residential Loan.

What are closing costs in Oregon?+

Average closing costs in Oregon are approximately 1.4% of the purchase price — about $6,860 on the median $490K home. Closing costs include lender origination fees, title insurance, escrow, prepaid interest, and government recording fees.

What income do I need to afford the median home in Oregon?+

To afford the $490K median home in Oregon under the 28% housing-cost rule, you need a gross monthly income of at least $12,011 — roughly $144K/year. The median household income in Oregon is $72,000.

Data Sources & Methodology

State data sourced from the National Association of Realtors (median home prices), Tax Foundation (property tax rates, income tax), Freddie Mac PMMS (mortgage rates), ATTOM Data Solutions (closing costs), and U.S. Census Bureau ACS (household income). Last updated 2026.