What’s the average mortgage payment in Oregon?

With lush forests, coastal access, and vibrant cities, Oregon is an appealing place for many buyers searching for their dream homes. According to data collected from Redfin and Rocket Mortgage, the average monthly mortgage payment in Oregon is roughly $1,758 before property taxes and insurance, just below the national average of $2,010.

A brief look at the Oregon housing market

Based on housing data from October 2025, the median home sale price in Oregon is $512,900, with an increase of less than 1% in the last year. That’s a bit higher than the national median, prices vary widely depending on where you’re looking in the state. 

Here’s a snapshot of recent median sale prices from Redfin:

What influences mortgage payments in Oregon?

Regardless of which state you are buying in, there are a few factors that affect your mortgage payment:

1. Home price and down payment
2. Mortgage rate
3. Loan term
4. Property taxes and insurance 

We’ll look into how each of these affects your monthly payments in Oregon specifically. The Rocket Mortgage® mortgage calculator can also help you visualize and understand how changes in each of these areas affects your overall payment. 

1. Home price and down payment

With Oregon’s higher home prices, your loan amount may be higher from the start. For example, on a $513,000 home with 20% down and a 30-year fixed-rate mortgage at 6.5%, your principal and interest payment would be about $2,560 a month before property taxes and insurance. 

A 20% down payment on a home at this price would be about $102,600. While making a smaller down payment might save you on upfront costs, your monthly payments will be higher, and you will likely need to pay private mortgage insurance (PMI). 

2. Mortgage rate

Your mortgage interest rate plays a major role in how much you pay over time. Rates are influenced by factors such as your credit score, down payment size, loan type, and current market conditions. Other elements such as debt-to-income ratio (DTI), home type, and location can also affect your mortgage rate. Because rates can fluctuate, it's smart to keep an eye on market conditions; even small changes can significantly impact your monthly payment.

3. Loan term

Your loan term, or how long you take to repay your mortgage, deeply impacts monthly payments. A 30-year fixed mortgage spreads the cost over a longer time, resulting in lower monthly payments, but more total interest over the life of the loan. 

A 15-year fixed mortgage increases your monthly payment, but you’ll pay less interest overall and build equity faster. The right choice for you depends on your financial situation, goals, and how long you plan to stay in the home.

4. Property taxes and insurance

Oregon’s property taxes land right in the middle of the range of other states at about 0.83%. Property taxes are calculated based on home value. In Oregon, the median home value is around $454,200, making the monthly cost of property taxes roughly $314. 

Factor in the average cost of homeowners insurance  at $182 per month, and you could see an increase of almost $500 to your monthly mortgage payment. 

Oregon mortgage payments compared to other states

Even though Oregon’s home prices run above the national average, the state actually has the lowest estimated monthly mortgage payment in the Pacific Northwest. It also beats its Western region neighbors, California and Nevada:

On a national level, Oregon’s average monthly mortgage payment is mid-range, making it a good middle ground for homebuyers. 

Highest monthly payments in Oregon

In metro areas and counties with the highest home values, like Portland or fast growing suburbs, mortgage payments can run well above the statewide average. High demand and premium neighborhoods drive home prices higher, which in turn raises typical mortgage payments. According to Q1 2025 median sale prices from the National Association of REALTORS®, these are the five highest average monthly mortgage payments in Oregon:

Lowest monthly payments in Oregon

In more rural or low-cost areas of Oregon where home values are below the state median, monthly payments trend lower. These areas offer greater affordability for buyers who are prioritizing lower monthly housing costs. Here are the five lowest average monthly mortgage payments in the state:

How to calculate your mortgage payment

Mortgage payments are calculated using a standard formula that takes into account your loan amount, interest rate, and repayment period. The Rocket Mortgage online mortgage calculator can help you see how changes in several different factors affect your expected monthly payment. Additional calculators and resources from Rocket Mortgage can help you get a more detailed insight into affordability and payment breakdowns as well.

Oregon-specific mortgage resources

If you’re looking at buying a home in Oregon, there are a number of programs for first-time home buyers or repeat buyers looking for assistance, including the following:

• Oregon Housing and Community Services (OHCS) Down Payment Assistance: A state-supported program that provides eligible first-time and first-generation homebuyers with funds for down payment and closing cost assistance, potentially up to $60,000 or 20% of the purchase price.
• OHCS Flex Lending Program (FirstHome & NextStep): A flexible mortgage option offered through approved lenders that pairs a competitive fixed-rate first mortgage with down payment assistance, helping low- to moderate-income Oregon homebuyers cover up to 100% of cash-to-close requirements.
• Portland Down Payment Assistance Loan (DPAL): A local program in the City of Portland that provides zero-interest second mortgage loans to first-time buyers to help with down payments and closing costs, typically for households at or below area median income.
• Oregon First-Time Home Buyer Savings Account: A state tax incentive that lets first-time Oregon homebuyers deduct contributions and earnings in a dedicated savings account from their Oregon taxable income, helping them save for a down payment and closing costs over time.
• Oregon Department of Veterans’ Affairs (ODVA) Home Loan Program: A state-specific mortgage program offering fixed-rate home loans to eligible Oregon veterans separate from the federal VA loan benefit, providing long-term, competitive mortgage financing for primary residences.

FAQs on the average monthly mortgage payment in Oregon

Still have questions about buying a home in Oregon? We have answers!

What is a good mortgage payment in Oregon right now?

A “good” monthly mortgage payment is unique to your situation, as it depends on your income, down payment, loan type, and budget. Given Oregon’s higher home prices, you will likely see monthly payments above the national average. Use the Rocket Mortgage home affordability calculator to help you understand how much house you can afford based on your financial profile in Oregon.

What’s the difference between a 15-year vs. 30-year mortgage in Oregon?

A 15-year loan will lead to higher monthly payments in Oregon since it shortens the amount of time over which you pay your balance. Although it may be more expensive upfront, it will reduce the amount of interest you pay overall, as well as help you build equity faster. A 30-year loan will reduce monthly costs, but increase interest while you pay it off over a longer period of time.

How much income is needed to afford a home in Oregon?

Using common affordability guidelines, like the 28/36 rule, and a median-priced home in Oregon as an example, a rough estimate for a comfortable household income is around $109,630 based on combined Redfin and Rocket data. The amount of income you actually need may vary significantly depending on down payment, interest rate, property taxes, and other monthly costs.

The bottom line: Home values, interest rates, and location affect Oregon mortgage rates

With home values above the national median, mortgage payments in Oregon tend to be higher than average. However, many buyers find the state’s blend of urban amenities, natural beauty, and quality of life worth the cost. Before you buy, carefully consider your down payment, loan term, and ongoing costs like taxes or insurance.

Whether you’re new to homebuying or considering moving within Oregon, getting prequalified for a loan with Rocket Mortgage is a smart first step to getting a clear picture of what you can afford and finding a home that fits you.

*Methodology: Average monthly mortgage payment in a region, calculated based on average home purchase price for a fixed 30-year loan and a 52-week average interest rate of 6.68% from Freddie Mac as of August 2025.