How Much House Can I Afford on a 210k Income in Oregon?
With a 210k income, you're well-positioned to purchase a home in Oregon. Financial advisors recommend spending about 3 to 4 times your annual income on a home, suggesting a budget between $630,000 and $840,000, depending on factors like your down payment and existing debts.
In Portland, the median home price is approximately $600,000, which is below your minimum affordability range. This situation opens up a broad selection of homes, potentially allowing you to consider higher-end properties or homes in better neighborhoods.
Other areas such as Salem and Eugene offer competitive pricing at around $520,000. Oregon's property tax rate averages 1.12%, adding roughly $6,720 annually on an average home. Coupled with a cost of living above the national average, your income provides ample opportunities for homeownership.