Compare different loan terms using your home price of $350,000 with $70,000 down at 6.8%.
15-Year Fixed
$2,401/mo
Total interest: $152,141
Total cost: $432,141
Save $221,646 vs 30-year
20-Year Fixed
$2,088/mo
Total interest: $221,025
Total cost: $501,025
Save $152,762 vs 30-year
30-Year Fixed (Current)
$1,816/mo
Total interest: $373,787
Total cost: $653,787
Lowest monthly payment
Pro
Professional Simulator
Complete financial model: closing costs breakdown, rent vs buy, inflation-adjusted returns, true cost of ownership
years
%
%
%
%
10-Year Net Gain/Loss
-$173,685
After selling in year 10 at $493,710
Total Paid Over Hold Period
$398,929
Down + closing + all payments
Home Value at Sale
$493,710
3.5%/ yr appreciation
Selling Costs
$29,623
6% of sale price
Net Sale Proceeds
$225,244
After mortgage payoff + selling costs
Real Interest Rate
4.25%
Nominal 6.8% - inflation 2.5%
Real Monthly Payment
$1,254
Today's dollars (mid-loan)
State Property Tax
$5,600
TX rate: 1.6%
True Monthly Cost
$2,499
PITI + HOA + maintenance
Buying a Home in Oregon
Oregon offers stunning natural beauty, a vibrant urban culture in Portland, and a housing market that, while expensive by national standards, remains more affordable than neighboring California and Washington's major markets. With an average home price of $480,000, Oregon requires significant purchasing power, but the state's property tax rate of 0.82% and the absence of a state sales tax provide meaningful ongoing savings for homeowners.
Portland is Oregon's largest city and a hub for technology, outdoor gear companies (Nike, Columbia Sportswear), and a thriving creative economy. The city's urban neighborhoods — Pearl District, Hawthorne, Division Street — are vibrant but expensive. Inner eastside and closer-in suburbs like Gresham, Milwaukie, and Lake Oswego offer varying price points. Washington County to the west hosts Intel, Nike's world headquarters, and a significant tech corridor, making Beaverton and Hillsboro popular with tech workers seeking more space than Portland proper allows.
Bend has emerged as one of Oregon's premier lifestyle destinations, driven by outdoor recreation access and a growing remote-worker population. Home prices in Bend have appreciated dramatically over the past decade and now approach Portland metro levels. Eugene, home to the University of Oregon, provides a more affordable market with a college-town character. Southern Oregon's Rogue Valley (Medford, Ashland) offers warmer weather and considerably lower prices than the Willamette Valley.
Key Housing Facts for Oregon
Average home price: $480,000
Average effective property tax rate: 0.82%
Average homeowners insurance: $1,100/year
No state sales tax
Measure 50 caps assessed value increases at 3% per year
Most expensive markets: Portland metro, Bend, Lake Oswego
More affordable markets: Eugene, Medford, Salem, Klamath Falls
Frequently Asked Questions
Oregon's average effective property tax rate is approximately 0.82%, below the national average. On a $480,000 home, you'd pay roughly $3,936 per year in property taxes. Oregon's Measure 50 (1997) limits annual assessed value increases to 3%, protecting long-time owners from rapid tax escalation as market values rise. Oregon also has no state sales tax.
Oregon Housing and Community Services (OHCS) offers the Oregon Bond Residential Loan program with below-market interest rates and the down payment assistance programs including the Cash Advantage (3%) and Rate Advantage options. Oregon also has LIFT (Lower Income First Time) homebuyer programs and various local programs through Clackamas, Multnomah, and Washington counties.
Yes. Oregon has one of the higher state income tax rates in the country, with rates ranging from 4.75% to 9.9% depending on income. The top rate of 9.9% applies to income over $250,000 for individuals. This is an important consideration when comparing Oregon's total tax burden to no-income-tax neighbors like Washington state. However, Oregon has no sales tax, which helps offset the income tax burden for lower and middle-income households.
Portland and the Willamette Valley are Oregon's most expensive and active markets. Portland metro suburbs like Lake Oswego, Beaverton, and Hillsboro offer slightly lower prices than the city. Bend has emerged as a premium destination in central Oregon with prices approaching Portland levels due to strong lifestyle demand. The Oregon Coast commands premium pricing. Eastern Oregon cities like Medford, Bend's surrounding areas, and Pendleton offer significantly more affordable entry points.