The typical owner-occupied home in Bonanza is worth about $261,700, 45% below the Oregon median of $477,600 and 21% below the national median of $332,700. Owners pay a median $1,205 a year in property taxes, about 0.46% of their home's value, lower than the Oregon rate of 0.81%. The median household earns $66,250 a year, so the median home costs 4.0 times the median income (5.8 times for Oregon). 62% of occupied homes here are lived in by their owners, and 51% of those owners still have a mortgage.
Bonanza at a glance
| Bonanza | Oregon | U.S. | |
|---|---|---|---|
| Median home value | $261,700 | $477,600 | $332,700 |
| Median property tax paid per year | $1,205 | $3,876 | $3,119 |
| Property tax as a share of value | 0.46% | 0.81% | 0.94% |
| Median household income | $66,250 | $83,011 | $80,734 |
| Homes lived in by their owners | 62% | 63% | 65% |
| Owner homes with a mortgage | 51% | 65% | 61% |
| Median monthly costs, owners with a mortgage | $1,313 | $2,157 | $1,963 |
| Those costs as a share of the owners' income | 17.5% | 22.4% | 21.0% |
| Median rent | $489 | $1,525 | $1,413 |
| Rent as a share of renters' income | 15.8% | 31.3% | 30.6% |
| Median year homes were built | 1983 | 1981 | 1980 |
| Vacant homes | 10.7% | 7.5% | 10.1% |
| Population | 632 | 4,254,293 | 334,922,499 |
What a typical home costs per month in Bonanza
At this week's average 30-year rate of 7.11%, buying the median Bonanza home of $261,700 with 20% down costs about $1,618 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,054, 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 $69,332 for the 20%-down payment. That payment is 29% of the median Bonanza household income of $66,250; at that income and 20% down, the 28% guideline points to a home of about $250,000.
The median rent here is $489 a month, so owning the median home costs about $1,129 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $52,340 |
|---|---|
| Loan amount | $209,360 |
| Principal and interest | $1,408 |
| Property taxes (0.46% a year) | $100 |
| Homeowners insurance (our estimate, 0.5% a year) | $109 |
| PMI | $0 |
| Total per month | $1,618 |
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| Down payment | $9,160 |
|---|---|
| Loan amount | $256,960 |
| Principal and interest | $1,729 |
| Property taxes (0.46% a year) | $100 |
| Homeowners insurance (our estimate, 0.5% a year) | $109 |
| FHA mortgage insurance | $116 |
| Total per month | $2,054 |
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Questions about home buying in Bonanza
What is the median home value in Bonanza?
About $261,700 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Bonanza?
Homeowners pay a median $1,205 a year, which is about 0.46% 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 Bonanza?
For the median home with 20% down at 7.11%, the payment is about $1,618 a month. Keeping that under 28% of gross income takes about $69,332 a year.
More about Bonanza
- Mortgage Refinance in Bonanza
- Debt Relief in Bonanza
- Home Equity Loans in Bonanza
- 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