The typical owner-occupied home in Selma is worth about $231,500, 52% below the Oregon median of $477,600 and 30% below the national median of $332,700. Owners pay a median $1,281 a year in property taxes, about 0.55% of their home's value, lower than the Oregon rate of 0.81%. The median household earns $43,372 a year, so the median home costs 5.3 times the median income (5.8 times for Oregon). 98% of occupied homes here are lived in by their owners, and 63% of those owners still have a mortgage.
Selma at a glance
| Selma | Oregon | U.S. | |
|---|---|---|---|
| Median home value | $231,500 | $477,600 | $332,700 |
| Median property tax paid per year | $1,281 | $3,876 | $3,119 |
| Property tax as a share of value | 0.55% | 0.81% | 0.94% |
| Median household income | $43,372 | $83,011 | $80,734 |
| Homes lived in by their owners | 98% | 63% | 65% |
| Owner homes with a mortgage | 63% | 65% | 61% |
| Median monthly costs, owners with a mortgage | $1,340 | $2,157 | $1,963 |
| Those costs as a share of the owners' income | 45.2% | 22.4% | 21.0% |
| Median rent | – | $1,525 | $1,413 |
| Median year homes were built | 1963 | 1981 | 1980 |
| Vacant homes | 27.5% | 7.5% | 10.1% |
| Population | 520 | 4,254,293 | 334,922,499 |
What a typical home costs per month in Selma
At this week's average 30-year rate of 7.11%, buying the median Selma home of $231,500 with 20% down costs about $1,448 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,834, 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 $62,075 for the 20%-down payment. That payment is 40% of the median Selma household income of $43,372; at that income and 20% down, the 28% guideline points to a home of about $162,000.
| Down payment | $46,300 |
|---|---|
| Loan amount | $185,200 |
| Principal and interest | $1,246 |
| Property taxes (0.55% a year) | $106 |
| Homeowners insurance (our estimate, 0.5% a year) | $96 |
| PMI | $0 |
| Total per month | $1,448 |
Change the numbers in the calculator
| Down payment | $8,102 |
|---|---|
| Loan amount | $227,307 |
| Principal and interest | $1,529 |
| Property taxes (0.55% a year) | $106 |
| Homeowners insurance (our estimate, 0.5% a year) | $96 |
| FHA mortgage insurance | $102 |
| Total per month | $1,834 |
Change the numbers in the calculator
Questions about home buying in Selma
What is the median home value in Selma?
About $231,500 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Selma?
Homeowners pay a median $1,281 a year, which is about 0.55% 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 Selma?
For the median home with 20% down at 7.11%, the payment is about $1,448 a month. Keeping that under 28% of gross income takes about $62,075 a year.
More about Selma
- Mortgage Refinance in Selma
- Debt Relief in Selma
- Home Equity Loans in Selma
- 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