Oregon Mortgage Calculator 2026 — Portland & Statewide Costs | US Financial Calculators

Median Oregon home ($480,000) — 20% down — 7% rate — 30yr

Component	Monthly	Annual
Principal & Interest	$2,554.76	$30,657
Property Tax (0.87%)	$348.00	$4,176
Homeowners Insurance	$150.00	$1,800
Total PITI	$3,052.76	$36,633

Total interest over 30yr: $535,714. PMI not included.

Monthly property tax on a $400,000 home by state

State	Avg Rate	Monthly/$400k
Alabama	0.41%	$136.67
Alaska	1.04%	$346.67
Arizona	0.62%	$206.67
Arkansas	0.62%	$206.67
California	0.76%	$253.33
Colorado	0.51%	$170.00
Connecticut	1.79%	$596.67
Delaware	0.57%	$190.00
Florida	0.89%	$296.67
Georgia	0.92%	$306.67
Hawaii	0.29%	$96.67
Idaho	0.69%	$230.00
Illinois	2.23%	$743.33
Indiana	0.85%	$283.33
Iowa	1.57%	$523.33
Kansas	1.41%	$470.00
Kentucky	0.86%	$286.67
Louisiana	0.55%	$183.33
Maine	1.09%	$363.33
Maryland	1.09%	$363.33
Massachusetts	1.14%	$380.00
Michigan	1.54%	$513.33
Minnesota	1.12%	$373.33
Mississippi	0.81%	$270.00
Missouri	1.01%	$336.67
Montana	0.84%	$280.00
Nebraska	1.73%	$576.67
Nevada	0.55%	$183.33
New Hampshire	1.93%	$643.33
New Jersey	2.23%	$743.33
New Mexico	0.80%	$266.67
New York	1.72%	$573.33
North Carolina	0.80%	$266.67
North Dakota	0.98%	$326.67
Ohio	1.53%	$510.00
Oklahoma	0.88%	$293.33
Oregon ★	0.87%	$290.00
Pennsylvania	1.49%	$496.67
Rhode Island	1.53%	$510.00
South Carolina	0.57%	$190.00
South Dakota	1.22%	$406.67
Tennessee	0.67%	$223.33
Texas	1.60%	$533.33
Utah	0.52%	$173.33
Vermont	1.83%	$610.00
Virginia	0.87%	$290.00
Washington	0.98%	$326.67
Washington DC	0.55%	$183.33
West Virginia	0.59%	$196.67
Wisconsin	1.76%	$586.67
Wyoming	0.61%	$203.33

Oregon has a moderate property tax rate of 0.87%. Measure 5 (1990) caps property taxes at $10 per $1,000 of real market value for education taxes and $5 per $1,000 for government services. Oregon has seen significant housing price appreciation, especially in the Portland metro area. Tight urban growth boundaries restrict new construction and contribute to housing supply constraints.

Median home price: $480,000. Average property tax: 0.87%. Cost of living index: 112 (US avg = 100).

What is the average property tax rate in Oregon?

The average effective property tax rate in Oregon is 0.87%. This means on a $480,000 home, you would pay approximately $4,176/year ($348.00/month) in property taxes. Note that actual property taxes are based on the county-assessed value, which may differ from the purchase price, and individual rates vary by county.

How much do I need to earn to afford a home in Oregon?

At the Oregon median home price of $480,000 with 20% down and a 7% rate, total monthly housing costs (PITI) are approximately $3,052.76. Using the 28% housing-to-income rule, you would need a gross monthly income of about $10,902.72, or $130,833/year. With less down payment or higher home price, the required income increases.

Is Oregon a community property state?

Oregon is a common law (equitable distribution) state. Spouses can own property separately, and lenders typically evaluate only the borrower(s) named on the mortgage application.

Should I get a 15-year or 30-year mortgage?

A 30-year mortgage has lower monthly payments but you pay significantly more interest over time. For example, on a $384,000 loan at 7%, monthly P&I is $2,554.76 (30yr) vs. $3,451.50 (15yr). Choose 30-year if cash flow is tight; choose 15-year if you can comfortably afford the higher payment.

What other costs should I budget for when buying in Oregon?

Beyond the mortgage payment, budget for: (1) Closing costs — typically 2–5% of the loan amount at purchase; (2) Home inspection — $300–$600; (3) Property taxes — $4,176/year at Oregon average rates on a $480,000 home; (4) Homeowners insurance — $1,200–$2,400/year; (5) HOA fees if applicable; (6) Maintenance reserve — budget 1–2% of home value annually.

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