The typical owner-occupied home in Monument is worth about $2,000,001, 4.2 times the Oregon median of $477,600 and 6.0 times the national median of $332,700. Owners pay a median $904 a year in property taxes, about 0.05% of their home's value, lower than the Oregon rate of 0.81%. The median household earns $38,419 a year, so the median home costs 52.1 times the median income (5.8 times for Oregon). 75% of occupied homes here are lived in by their owners, and 4% of those owners still have a mortgage.
Monument at a glance
| Monument | Oregon | U.S. | |
|---|---|---|---|
| Median home value | $2,000,001 | $477,600 | $332,700 |
| Median property tax paid per year | $904 | $3,876 | $3,119 |
| Property tax as a share of value | 0.05% | 0.81% | 0.94% |
| Median household income | $38,419 | $83,011 | $80,734 |
| Homes lived in by their owners | 75% | 63% | 65% |
| Owner homes with a mortgage | 4% | 65% | 61% |
| Median monthly costs, owners with a mortgage | $1,375 | $2,157 | $1,963 |
| Those costs as a share of the owners' income | 26.7% | 22.4% | 21.0% |
| Median rent | $669 | $1,525 | $1,413 |
| Rent as a share of renters' income | 41.3% | 31.3% | 30.6% |
| Median year homes were built | 1955 | 1981 | 1980 |
| Vacant homes | 12.6% | 7.5% | 10.1% |
| Population | 185 | 4,254,293 | 334,922,499 |
What a typical home costs per month in Monument
At this week's average 30-year rate of 7.11%, buying the median Monument home of $2,000,001 with 20% down costs about $11,680 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $15,333, 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 $500,571 for the 20%-down payment. That payment is 365% of the median Monument household income of $38,419; at that income and 20% down, the 28% guideline points to a home of about $154,000.
The median rent here is $669 a month, so owning the median home costs about $11,011 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $400,000 |
|---|---|
| Loan amount | $1,600,001 |
| Principal and interest | $10,763 |
| Property taxes (0.05% a year) | $83 |
| Homeowners insurance (our estimate, 0.5% a year) | $833 |
| PMI | $0 |
| Total per month | $11,680 |
Change the numbers in the calculator
| Down payment | $70,000 |
|---|---|
| Loan amount | $1,963,776 |
| Principal and interest | $13,210 |
| Property taxes (0.05% a year) | $83 |
| Homeowners insurance (our estimate, 0.5% a year) | $833 |
| FHA mortgage insurance | $1,206 |
| Total per month | $15,333 |
Change the numbers in the calculator
Questions about home buying in Monument
What is the median home value in Monument?
About $2,000,001 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Monument?
Homeowners pay a median $904 a year, which is about 0.05% 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 Monument?
For the median home with 20% down at 7.11%, the payment is about $11,680 a month. Keeping that under 28% of gross income takes about $500,571 a year.
More about Monument
- Mortgage Refinance in Monument
- Debt Relief in Monument
- Home Equity Loans in Monument
- 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