The typical owner-occupied home in Monmouth is worth about $413,200, 13% below the Oregon median of $477,600 and 24% above the national median of $332,700. Owners pay a median $3,731 a year in property taxes, about 0.90% of their home's value, higher than the Oregon rate of 0.81%. The median household earns $69,170 a year, so the median home costs 6.0 times the median income (5.8 times for Oregon). 47% of occupied homes here are lived in by their owners, and 72% of those owners still have a mortgage.
Monmouth at a glance
| Monmouth | Oregon | U.S. | |
|---|---|---|---|
| Median home value | $413,200 | $477,600 | $332,700 |
| Median property tax paid per year | $3,731 | $3,876 | $3,119 |
| Property tax as a share of value | 0.90% | 0.81% | 0.94% |
| Median household income | $69,170 | $83,011 | $80,734 |
| Homes lived in by their owners | 47% | 63% | 65% |
| Owner homes with a mortgage | 72% | 65% | 61% |
| Median monthly costs, owners with a mortgage | $1,959 | $2,157 | $1,963 |
| Those costs as a share of the owners' income | 22.5% | 22.4% | 21.0% |
| Median rent | $1,114 | $1,525 | $1,413 |
| Rent as a share of renters' income | 29.0% | 31.3% | 30.6% |
| Median year homes were built | 1993 | 1981 | 1980 |
| Vacant homes | 8.8% | 7.5% | 10.1% |
| Population | 11,428 | 4,254,293 | 334,922,499 |
What a typical home costs per month in Monmouth
At this week's average 30-year rate of 7.11%, buying the median Monmouth home of $413,200 with 20% down costs about $2,706 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $3,394, 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 $115,962 for the 20%-down payment. That payment is 47% of the median Monmouth household income of $69,170; at that income and 20% down, the 28% guideline points to a home of about $246,000.
The median rent here is $1,114 a month, so owning the median home costs about $1,592 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $82,640 |
|---|---|
| Loan amount | $330,560 |
| Principal and interest | $2,224 |
| Property taxes (0.90% a year) | $310 |
| Homeowners insurance (our estimate, 0.5% a year) | $172 |
| PMI | $0 |
| Total per month | $2,706 |
Change the numbers in the calculator
| Down payment | $14,462 |
|---|---|
| Loan amount | $405,716 |
| Principal and interest | $2,729 |
| Property taxes (0.90% a year) | $310 |
| Homeowners insurance (our estimate, 0.5% a year) | $172 |
| FHA mortgage insurance | $183 |
| Total per month | $3,394 |
Change the numbers in the calculator
Questions about home buying in Monmouth
What is the median home value in Monmouth?
About $413,200 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Monmouth?
Homeowners pay a median $3,731 a year, which is about 0.90% 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 Monmouth?
For the median home with 20% down at 7.11%, the payment is about $2,706 a month. Keeping that under 28% of gross income takes about $115,962 a year.
More about Monmouth
- Mortgage Refinance in Monmouth
- Debt Relief in Monmouth
- Home Equity Loans in Monmouth
- 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