The typical owner-occupied home in Merlin is worth about $435,000, 9% below the Oregon median of $477,600 and 31% above the national median of $332,700. Owners pay a median $2,029 a year in property taxes, about 0.47% of their home's value, lower than the Oregon rate of 0.81%. The median household earns $71,806 a year, so the median home costs 6.1 times the median income (5.8 times for Oregon). 96% of occupied homes here are lived in by their owners, and 56% of those owners still have a mortgage.
Merlin at a glance
| Merlin | Oregon | U.S. | |
|---|---|---|---|
| Median home value | $435,000 | $477,600 | $332,700 |
| Median property tax paid per year | $2,029 | $3,876 | $3,119 |
| Property tax as a share of value | 0.47% | 0.81% | 0.94% |
| Median household income | $71,806 | $83,011 | $80,734 |
| Homes lived in by their owners | 96% | 63% | 65% |
| Owner homes with a mortgage | 56% | 65% | 61% |
| Median monthly costs, owners with a mortgage | $2,077 | $2,157 | $1,963 |
| Those costs as a share of the owners' income | 27.6% | 22.4% | 21.0% |
| Median rent | – | $1,525 | $1,413 |
| Median year homes were built | 1989 | 1981 | 1980 |
| Vacant homes | 0.0% | 7.5% | 10.1% |
| Population | 1,617 | 4,254,293 | 334,922,499 |
What a typical home costs per month in Merlin
At this week's average 30-year rate of 7.11%, buying the median Merlin home of $435,000 with 20% down costs about $2,693 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $3,417, 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 $115,399 for the 20%-down payment. That payment is 45% of the median Merlin household income of $71,806; at that income and 20% down, the 28% guideline points to a home of about $271,000.
| Down payment | $87,000 |
|---|---|
| Loan amount | $348,000 |
| Principal and interest | $2,341 |
| Property taxes (0.47% a year) | $170 |
| Homeowners insurance (our estimate, 0.5% a year) | $181 |
| PMI | $0 |
| Total per month | $2,693 |
Change the numbers in the calculator
| Down payment | $15,225 |
|---|---|
| Loan amount | $427,121 |
| Principal and interest | $2,873 |
| Property taxes (0.47% a year) | $170 |
| Homeowners insurance (our estimate, 0.5% a year) | $181 |
| FHA mortgage insurance | $192 |
| Total per month | $3,417 |
Change the numbers in the calculator
Questions about home buying in Merlin
What is the median home value in Merlin?
About $435,000 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Merlin?
Homeowners pay a median $2,029 a year, which is about 0.47% 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 Merlin?
For the median home with 20% down at 7.11%, the payment is about $2,693 a month. Keeping that under 28% of gross income takes about $115,399 a year.
More about Merlin
- Mortgage Refinance in Merlin
- Debt Relief in Merlin
- Home Equity Loans in Merlin
- 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