The typical owner-occupied home in Klamath Falls is worth about $287,000, 40% below the Oregon median of $477,600 and 14% below the national median of $332,700. Owners pay a median $2,188 a year in property taxes, about 0.76% of their home's value, lower than the Oregon rate of 0.81%. The median household earns $46,693 a year, so the median home costs 6.1 times the median income (5.8 times for Oregon). 49% of occupied homes here are lived in by their owners, and 65% of those owners still have a mortgage.
Klamath Falls at a glance
| Klamath Falls | Oregon | U.S. | |
|---|---|---|---|
| Median home value | $287,000 | $477,600 | $332,700 |
| Median property tax paid per year | $2,188 | $3,876 | $3,119 |
| Property tax as a share of value | 0.76% | 0.81% | 0.94% |
| Median household income | $46,693 | $83,011 | $80,734 |
| Homes lived in by their owners | 49% | 63% | 65% |
| Owner homes with a mortgage | 65% | 65% | 61% |
| Median monthly costs, owners with a mortgage | $1,552 | $2,157 | $1,963 |
| Those costs as a share of the owners' income | 22.1% | 22.4% | 21.0% |
| Median rent | $986 | $1,525 | $1,413 |
| Rent as a share of renters' income | 36.9% | 31.3% | 30.6% |
| Median year homes were built | 1965 | 1981 | 1980 |
| Vacant homes | 8.0% | 7.5% | 10.1% |
| Population | 22,115 | 4,254,293 | 334,922,499 |
What a typical home costs per month in Klamath Falls
At this week's average 30-year rate of 7.11%, buying the median Klamath Falls home of $287,000 with 20% down costs about $1,846 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,324, 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 $79,109 for the 20%-down payment. That payment is 47% of the median Klamath Falls household income of $46,693; at that income and 20% down, the 28% guideline points to a home of about $169,000.
The median rent here is $986 a month, so owning the median home costs about $860 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $57,400 |
|---|---|
| Loan amount | $229,600 |
| Principal and interest | $1,545 |
| Property taxes (0.76% a year) | $182 |
| Homeowners insurance (our estimate, 0.5% a year) | $120 |
| PMI | $0 |
| Total per month | $1,846 |
Change the numbers in the calculator
| Down payment | $10,045 |
|---|---|
| Loan amount | $281,802 |
| Principal and interest | $1,896 |
| Property taxes (0.76% a year) | $182 |
| Homeowners insurance (our estimate, 0.5% a year) | $120 |
| FHA mortgage insurance | $127 |
| Total per month | $2,324 |
Change the numbers in the calculator
Questions about home buying in Klamath Falls
What is the median home value in Klamath Falls?
About $287,000 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Klamath Falls?
Homeowners pay a median $2,188 a year, which is about 0.76% 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 Klamath Falls?
For the median home with 20% down at 7.11%, the payment is about $1,846 a month. Keeping that under 28% of gross income takes about $79,109 a year.
More about Klamath Falls
- Mortgage Refinance in Klamath Falls
- Debt Relief in Klamath Falls
- Home Equity Loans in Klamath Falls
- 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