Calculate your monthly mortgage payment in Oregon including principal, interest, and Oregon's average property tax rate of 0.87%.
Oregon Property Tax Note: 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.
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Oregon average: 0.87%
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Oregon Monthly Payment
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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).
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.
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.
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.
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.
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.
Oregon Mortgage Math: Property Tax, Insurance, and PITI
Your Oregon mortgage payment has four components — the PITI breakdown: Principal, Interest, Taxes, and Insurance. Principal and interest are determined by your loan amount, rate, and term. Property tax and homeowners insurance are usually escrowed monthly. In Oregon, the average effective property tax rate is 0.87% — below the US average of 1.10%.
On the median Oregon home ($480,000), the property tax line alone runs roughly $4,176 annually — about $348 per month before factoring in any local supplemental levies. Homeowners insurance typically adds $1,200–$2,400/year depending on coverage and risk profile, with hurricane/wildfire-prone areas paying more.
Oregon Home Prices in National Context
The median home price in Oregon is $480,000, 14.5% above the US median of $419,200. Relative to Oregon's median household income of $67,058, the median home costs about 7.2× annual income — a useful affordability benchmark. Home-price-to-income ratios above 5× typically signal a stretched market; below 3× indicates affordability headroom.
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. Local variation within Oregon can be substantial — coastal/metro counties typically run well above the state median, while inland and rural counties can sit far below. Use the calculator above with your specific target price, and verify the property tax line by looking up the assessed value and millage rate for your target county.
Affordability Math: How Much Home Can You Actually Carry?
Conventional underwriting caps total housing costs at 28% of gross monthly income (the "front-end" ratio) and total debt at 36%–43% (the "back-end" ratio). On the Oregon median household income of $67,058, that's a maximum housing budget of about $1,565 per month. With Oregon's lower-than-average property taxes, that budget supports a mortgage in the range of $167,645–$234,703 at current 30-year fixed rates.
The 20% down payment is a useful benchmark — it eliminates private mortgage insurance (PMI) and signals creditworthiness — but isn't required. FHA loans accept 3.5% down with a credit score of 580+; VA loans (eligible veterans) and USDA loans (rural areas) can offer 0% down. Each path has tradeoffs in upfront fees, ongoing insurance, and rate competitiveness; run the math both ways before committing.
Closing Costs and Ongoing Ownership Costs in Oregon
Beyond the down payment, budget 2%–5% of the loan amount for closing costs: lender origination fees, title insurance, appraisal, recording fees, prepaid taxes and insurance, and (in some states) transfer taxes. On a $384,000 loan, that's roughly $11,520–$19,200 due at closing. Some sellers will credit closing costs in soft markets — always ask.
Plan for ongoing maintenance reserves of 1%–2% of home value annually — about $7,200/year on the Oregon median home. HOA dues (if applicable), utilities, and major capital expenses (roof, HVAC, hot water heater) accumulate. The all-in cost of homeownership in Oregon typically runs 1.3×–1.5× the mortgage payment alone once tax, insurance, maintenance, and major repairs are included over a typical holding period.