The typical owner-occupied home in Rainier is worth about $344,700, 28% below the Oregon median of $477,600 and 4% above the national median of $332,700. Owners pay a median $3,384 a year in property taxes, about 0.98% of their home's value, higher than the Oregon rate of 0.81%. The median household earns $66,989 a year, so the median home costs 5.1 times the median income (5.8 times for Oregon). 60% of occupied homes here are lived in by their owners, and 84% of those owners still have a mortgage.
Rainier at a glance
| Rainier | Oregon | U.S. | |
|---|---|---|---|
| Median home value | $344,700 | $477,600 | $332,700 |
| Median property tax paid per year | $3,384 | $3,876 | $3,119 |
| Property tax as a share of value | 0.98% | 0.81% | 0.94% |
| Median household income | $66,989 | $83,011 | $80,734 |
| Homes lived in by their owners | 60% | 63% | 65% |
| Owner homes with a mortgage | 84% | 65% | 61% |
| Median monthly costs, owners with a mortgage | $1,597 | $2,157 | $1,963 |
| Those costs as a share of the owners' income | 27.1% | 22.4% | 21.0% |
| Median rent | $942 | $1,525 | $1,413 |
| Rent as a share of renters' income | 24.2% | 31.3% | 30.6% |
| Median year homes were built | 1972 | 1981 | 1980 |
| Vacant homes | 5.0% | 7.5% | 10.1% |
| Population | 2,130 | 4,254,293 | 334,922,499 |
What a typical home costs per month in Rainier
At this week's average 30-year rate of 7.11%, buying the median Rainier home of $344,700 with 20% down costs about $2,280 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,854, 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 $97,722 for the 20%-down payment. That payment is 41% of the median Rainier household income of $66,989; at that income and 20% down, the 28% guideline points to a home of about $236,000.
The median rent here is $942 a month, so owning the median home costs about $1,338 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $68,940 |
|---|---|
| Loan amount | $275,760 |
| Principal and interest | $1,855 |
| Property taxes (0.98% a year) | $282 |
| Homeowners insurance (our estimate, 0.5% a year) | $144 |
| PMI | $0 |
| Total per month | $2,280 |
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| Down payment | $12,064 |
|---|---|
| Loan amount | $338,457 |
| Principal and interest | $2,277 |
| Property taxes (0.98% a year) | $282 |
| Homeowners insurance (our estimate, 0.5% a year) | $144 |
| FHA mortgage insurance | $152 |
| Total per month | $2,854 |
Change the numbers in the calculator
Questions about home buying in Rainier
What is the median home value in Rainier?
About $344,700 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Rainier?
Homeowners pay a median $3,384 a year, which is about 0.98% 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 Rainier?
For the median home with 20% down at 7.11%, the payment is about $2,280 a month. Keeping that under 28% of gross income takes about $97,722 a year.
More about Rainier
- Mortgage Refinance in Rainier
- Debt Relief in Rainier
- Home Equity Loans in Rainier
- 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