The typical owner-occupied home in Happy Valley is worth about $725,300, 52% above the Oregon median of $477,600 and 2.2 times the national median of $332,700. Owners pay a median $7,542 a year in property taxes, about 1.04% of their home's value, higher than the Oregon rate of 0.81%. The median household earns $122,151 a year, so the median home costs 5.9 times the median income (5.8 times for Oregon). 79% of occupied homes here are lived in by their owners, and 73% of those owners still have a mortgage.
Happy Valley at a glance
| Happy Valley | Oregon | U.S. | |
|---|---|---|---|
| Median home value | $725,300 | $477,600 | $332,700 |
| Median property tax paid per year | $7,542 | $3,876 | $3,119 |
| Property tax as a share of value | 1.04% | 0.81% | 0.94% |
| Median household income | $122,151 | $83,011 | $80,734 |
| Homes lived in by their owners | 79% | 63% | 65% |
| Owner homes with a mortgage | 73% | 65% | 61% |
| Median monthly costs, owners with a mortgage | $3,106 | $2,157 | $1,963 |
| Those costs as a share of the owners' income | 24.0% | 22.4% | 21.0% |
| Median rent | $2,029 | $1,525 | $1,413 |
| Rent as a share of renters' income | 35.4% | 31.3% | 30.6% |
| Median year homes were built | 2009 | 1981 | 1980 |
| Vacant homes | 4.7% | 7.5% | 10.1% |
| Population | 26,738 | 4,254,293 | 334,922,499 |
What a typical home costs per month in Happy Valley
At this week's average 30-year rate of 7.11%, buying the median Happy Valley home of $725,300 with 20% down costs about $4,834 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $6,042, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $207,176 for the 20%-down payment. That payment is 47% of the median Happy Valley household income of $122,151; at that income and 20% down, the 28% guideline points to a home of about $428,000.
The median rent here is $2,029 a month, so owning the median home costs about $2,805 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $145,060 |
|---|---|
| Loan amount | $580,240 |
| Principal and interest | $3,903 |
| Property taxes (1.04% a year) | $629 |
| Homeowners insurance (our estimate, 0.5% a year) | $302 |
| PMI | $0 |
| Total per month | $4,834 |
Change the numbers in the calculator
| Down payment | $25,386 |
|---|---|
| Loan amount | $712,163 |
| Principal and interest | $4,791 |
| Property taxes (1.04% a year) | $629 |
| Homeowners insurance (our estimate, 0.5% a year) | $302 |
| FHA mortgage insurance | $321 |
| Total per month | $6,042 |
Change the numbers in the calculator
Questions about home buying in Happy Valley
What is the median home value in Happy Valley?
About $725,300 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Happy Valley?
Homeowners pay a median $7,542 a year, which is about 1.04% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Happy Valley?
For the median home with 20% down at 7.11%, the payment is about $4,834 a month. Keeping that under 28% of gross income takes about $207,176 a year.
More about Happy Valley
- Mortgage Refinance in Happy Valley
- Debt Relief in Happy Valley
- Home Equity Loans in Happy Valley
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data