Oregon Mortgage Calculator

Oregon's tax bill is based on a home's maximum assessed value, which Measure 50 limits to 3% growth a year, not on its market value. As a result, homes of similar value can carry very different bills depending on when they were built. Insurance is among the cheapest in this data set, but wildfire exposure is growing in some areas.

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A median Oregon home costs $497,500 (8th of 51). Borrowing 80% at 7.40% gives $3,162.67 per month once $323.42 of tax and $83.58 of insurance are added to $2,755.67 of principal and interest; at 5% down with PMI, budget $3,876.29.

Homestead exemptions and property tax relief

Oregon has no general homestead exemption. Eligible seniors and disabled homeowners can apply for the state's property tax deferral program, and disabled veterans get an exemption. The 3% growth limit on maximum assessed value is the main protection for long-term owners.

First-time buyer programs

Oregon Housing and Community Services' Flex Lending program pairs FirstHome and NextStep mortgages with down payment assistance of 4% or 5% of the first mortgage.

Transfer and recording taxes

State law bars new local transfer taxes, and Washington County is the only county that still charges one ($1 per $1,000, about $498 on a $497,500 home), under an ordinance that predates the ban.

Closing costs to plan for

Outside Washington County, buyer costs are escrow, title and lender fees. Oregon closings are handled by escrow companies.

When property tax bills are due

Oregon property taxes are billed each fall for the tax year starting July 1, and you can pay in three installments: one-third each by November 15, February 15 and May 15. Paying the full year by November 15 earns a 3% discount, and paying two-thirds earns 2%. Many lenders pay in full in November to take the discount.

Before you buy in Oregon

Under Measure 50, a home's maximum assessed value generally grows no more than 3% a year. Major improvements and new construction are exceptions. Taxable value is the lower of that maximum and the real market value. Because the cap does not reset on sale, two similar homes on the same street can carry very different bills, so check the actual tax on the listing rather than estimating from the price. Seniors and disabled owners can apply to the county assessor for the state deferral program by April 15.

2026 loan limit in Oregon

FHFA 2026 one-unit conforming limits: the $832,750 baseline covers each of the 36 counties. The typical $398,000 loan stays conforming.

Oregon numbers used above

MeasureOregonU.S.
Median home value (ACS 2024)$497,500$360,600
Effective property tax rate0.78% (25th highest)0.89%
Average HO-3 premium (NAIC 2023)$1,003$1,737
Median household income$85,220$81,604
Median gross rent$1,597$1,487
Income needed at 28% (20% down)$135,543–

Frequently asked questions

When are Oregon property taxes due?

In three installments, by November 15, February 15 and May 15. Paying in full by November 15 earns a 3% discount.

Does Oregon reassess a home when it sells?

No. Measure 50 limits growth in maximum assessed value to about 3% a year, and the sale does not reset it.

What is Oregon's property tax deferral?

A state program that pays county taxes for eligible seniors and disabled owners. The state takes a lien and charges 6% interest a year.

What is the median-home payment in Oregon?

About $3,162.67 a month on a $497,500 home with 20% down at 7.40%, including tax and insurance.

Sources

See also: all states · house affordability · Oregon paycheck