Oregon offers a unique financial profile for homebuyers: no state sales tax, a below-average property tax rate of 0.97%, and among the cheapest homeowners insurance in the country at approximately $900 per year. However, home prices — particularly in Portland and Bend — are well above the national median, reflecting the state's desirability, tech sector growth, and limited housing supply. Oregon's housing market has cooled from its pandemic highs but remains expensive relative to incomes.
Calculate Your Monthly Payment
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Select a program to apply FHA/VA/USDA rules.
Funding fee is often financed into the loan.
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20.0% of home price
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Used to estimate potential Year‑2 escrow shock if taxes reset after purchase.
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Used for Conventional PMI estimates and FHA minimum down rules
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Extra payments reduce balance faster and can end PMI sooner.
Total Monthly Payment
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Principal & Interest • Tax • Insurance • PMI • HOA
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HOA
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Year‑2 Payment Shock (Property Tax Reassessment)
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Year‑2 estimate
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Note: This is an estimate. Tax timing, exemptions, and escrow rules vary by county and lender. Always verify with your county assessor and your lender’s escrow analysis.
Extra Payment Savings
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Disclaimer: Results shown are estimates for educational purposes only and do not constitute financial, tax, legal, or investment advice. Actual payments vary based on lender, credit score, loan type, and local assessments. Consult a licensed mortgage professional for your specific situation.
Oregon Mortgage Calculator Guide
Buying a home in Oregon requires understanding local costs. The median home price in the state sits around $515,000, which means your down payment and loan amount will heavily dictate your monthly expenses. Because Oregon has an average property tax rate of 0.97%, factoring this into your monthly mortgage payment is essential for an accurate budget.
Beyond principal and interest, homeowners insurance in Oregon averages $900 per year. Local weather risks and property age can push this number higher. By using our pre-loaded local averages, you get a realistic view of your true housing costs rather than just a basic principal calculation.
If you put down less than 20%, you will also need to pay Private Mortgage Insurance (PMI). Adjust the down payment field above to see exactly how your PMI drops off once you reach that 20% equity threshold in Oregon.
Oregon's average property tax rate of 0.97% is just below the national average of 1.07%. Oregon's Measure 5 (1990) and Measure 47/50 (1996/1997) created significant caps on property tax rates and assessed value growth, limiting annual increases to 3% on the assessed value of existing properties. This means assessed value can diverge significantly from market value in appreciation markets. Oregon also has no state sales tax, which provides ongoing cost-of-living relief. On a $515,000 home, annual property taxes average approximately $4,996.
Frequently Asked Questions
No. Oregon has no state sales tax, which is a meaningful ongoing financial benefit for homeowners and residents. This cost-of-living advantage, combined with a below-average property tax rate and cheap homeowners insurance, partially offsets Oregon's high home prices.
Oregon's average property tax rate is 0.97%, just below the national average. Measure 5/47/50 caps annual assessed value growth at 3%, meaning assessed values can be significantly below market values in appreciating areas. On a $515,000 home, annual taxes average approximately $4,996.
Oregon Housing and Community Services (OHCS) administers the Oregon Bond Residential Loan Program with below-market mortgage rates, a Down Payment Assistance program, and a Rate Advantage Program. Programs require working with approved lenders and completing homebuyer education. Income and purchase price limits apply.
Bend sits at the base of the Cascade Mountains with access to Mt. Bachelor skiing, world-class mountain biking, fishing, and hiking — all within minutes of downtown. Remote work migration, limited developable land (surrounded by federal land), a growing tech presence, and national recognition as one of the best places to live in the US have combined to push median prices to approximately $680,000.
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