Mortgage payment estimates, closing cost breakdowns, and homebuying data for Portland, Oregon.
Median Home Price
$495K
Population
653K
Avg Monthly Rent
$1,750
Property Tax Rate
0.93% *
* Property tax shown is the Oregon state average effective rate. Actual rates vary by county, city, and school district — check with your local assessor for exact rates in Portland.
Portland vs Oregon Median
The median home price in Portland is $495,000, which is roughly in line with the Oregon state median of $480,000.
Mortgage Calculator — Portland, OR
Pre-filled with Portland median home price and Oregon tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $495K home using Oregon's 0.93% tax rate and $1,400/yr insurance.
5% Down
$3,747/mo
Down: $24,750
Loan: $470K
P&I: $2,972
Tax: $384
Insurance: $117
PMI: $274
10% Down
$3,576/mo
Down: $49,500
Loan: $446K
P&I: $2,816
Tax: $384
Insurance: $117
PMI: $260
20% Down (No PMI)
$3,003/mo
Down: $99,000
Loan: $396K
P&I: $2,503
Tax: $384
Insurance: $117
Income needed (28% rule): $129K/year with 20% down, $153K/year with 10% down.
Rent vs Buy in Portland
Rent
$1,750/mo
vs
Buy (10% down)
$3,576/mo
Price-to-rent ratio: 23.6 — At a ratio above 20, renting may be more economical in Portland for shorter stays. Buying costs $1,826 more per month than renting, and it typically takes 5-7 years to break even on the transaction costs of buying.
The median home price in Portland is $495,000, roughly in line with the Oregon state median of $480,000. With a population of 652,503, Portland is a major metro area where home prices reflect strong demand and local economic factors.
Property taxes in Oregon average 0.93% annually. This moderate property tax rate means a $495,000 home in Portland would carry roughly $384/month in property taxes. Homeowners insurance in Oregon runs approximately $1,400 per year. This is within the normal range nationally.
Average rent in Portland is $1,750/month. With a price-to-rent ratio above 20, renting could be more economical in the short term — use our Rent vs Buy calculator to model your specific timeline.
Portland is a higher-cost market. At $495K median, buyers need significant savings or strong income. Down payment assistance through Oregon's OHCS Oregon Bond program becomes especially important.
Run a Rent vs Buy analysis
Compare total costs of renting vs buying in Portland.