The real estate market is booming right now thanks to low interest rates, a flood of millennial buyers, and shrinking inventory. The median cost of a home has increased 20% year over year, hitting $347,500, according to a report released in April 2020 by real estate listing website Redfin. These high asking costs—while good for sellers—are pricing many buyers out of the market entirely.
But all things are not equal when it comes to real estate in the United States.
Credible used 2021 data calculated by the National Association of REALTORS to compile a list of counties with the lowest median home values and monthly mortgage payments in Oregon. Counties were ranked by the monthly mortgage payment for a typical home in 2020, from lowest to highest. Ties were broken by median home values in 2020.
The National Association of REALTORS calculated the fourth quarter 2020 median home values by applying the Federal Housing Finance Agency's House Price Index growth to 2019 housing and population data from the American Community Survey and determining an estimate of 2020 median home values for all counties where data is available. The monthly mortgage payments for fourth quarter 2019 and fourth quarter 2020 were calculated for a 30-year fixed-rate mortgage with a 10% down payment.
Keep reading to discover which county in Oregon has the lowest home prices.
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#30. Yamhill County
- Monthly mortgage payment in 2020: $1,346 (2.7% less than 2019)
- Monthly mortgage payment in 2019: $1,383
- Median home value in 2020: $363,500
- Ranked #2,969 out of 3,120 counties nationwide
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#29. Polk County
- Monthly mortgage payment in 2020: $1,314 (4.0% greater than 2019)
- Monthly mortgage payment in 2019: $1,263
- Median home value in 2020: $354,900
- Ranked #2,957 out of 3,120 counties nationwide
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#28. Jackson County
- Monthly mortgage payment in 2020: $1,260 (1.9% less than 2019)
- Monthly mortgage payment in 2019: $1,284
- Median home value in 2020: $340,200
- Ranked #2,937 out of 3,120 counties nationwide
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#27. Josephine County
- Monthly mortgage payment in 2020: $1,174 (5.6% less than 2019)
- Monthly mortgage payment in 2019: $1,244
- Median home value in 2020: $317,000
- Ranked #2,894 out of 3,120 counties nationwide
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#26. Lane County
- Monthly mortgage payment in 2020: $1,166 (7.3% less than 2019)
- Monthly mortgage payment in 2019: $1,258
- Median home value in 2020: $314,900
- Ranked #2,893 out of 3,120 counties nationwide
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#25. Marion County
- Monthly mortgage payment in 2020: $1,142 (4.8% less than 2019)
- Monthly mortgage payment in 2019: $1,200
- Median home value in 2020: $308,400
- Ranked #2,879 out of 3,120 counties nationwide
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#24. Clatsop County
- Monthly mortgage payment in 2020: $1,137 (4.1% less than 2019)
- Monthly mortgage payment in 2019: $1,186
- Median home value in 2020: $307,100
- Ranked #2,873 out of 3,120 counties nationwide
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#23. Curry County
- Monthly mortgage payment in 2020: $1,063 (4.5% less than 2019)
- Monthly mortgage payment in 2019: $1,113
- Median home value in 2020: $287,100
- Ranked #2,818 out of 3,120 counties nationwide
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#22. Columbia County
- Monthly mortgage payment in 2020: $1,037 (1.1% less than 2019)
- Monthly mortgage payment in 2019: $1,049
- Median home value in 2020: $280,100
- Ranked #2,800 out of 3,120 counties nationwide
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#21. Linn County
- Monthly mortgage payment in 2020: $1,030 (8.4% less than 2019)
- Monthly mortgage payment in 2019: $1,125
- Median home value in 2020: $278,200
- Ranked #2,792 out of 3,120 counties nationwide
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#20. Tillamook County
- Monthly mortgage payment in 2020: $1,018 (4.3% less than 2019)
- Monthly mortgage payment in 2019: $1,064
- Median home value in 2020: $275,000
- Ranked #2,778 out of 3,120 counties nationwide
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#19. Lincoln County
- Monthly mortgage payment in 2020: $1,006 (2.6% less than 2019)
- Monthly mortgage payment in 2019: $1,033
- Median home value in 2020: $271,700
- Ranked #2,765 out of 3,120 counties nationwide
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#18. Crook County
- Monthly mortgage payment in 2020: $986 (4.6% greater than 2019)
- Monthly mortgage payment in 2019: $943
- Median home value in 2020: $266,200
- Ranked #2,752 out of 3,120 counties nationwide
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#17. Wallowa County
- Monthly mortgage payment in 2020: $958 (5.0% less than 2019)
- Monthly mortgage payment in 2019: $1,008
- Median home value in 2020: $258,600
- Ranked #2,723 out of 3,120 counties nationwide
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#16. Jefferson County
- Monthly mortgage payment in 2020: $900 (0.3% less than 2019)
- Monthly mortgage payment in 2019: $903
- Median home value in 2020: $242,900
- Ranked #2,657 out of 3,120 counties nationwide
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#15. Douglas County
- Monthly mortgage payment in 2020: $875 (8.7% less than 2019)
- Monthly mortgage payment in 2019: $958
- Median home value in 2020: $236,400
- Ranked #2,617 out of 3,120 counties nationwide
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#14. Wasco County
- Monthly mortgage payment in 2020: $853 (3.5% less than 2019)
- Monthly mortgage payment in 2019: $884
- Median home value in 2020: $230,300
- Ranked #2,584 out of 3,120 counties nationwide
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#13. Umatilla County
- Monthly mortgage payment in 2020: $799 (2.9% less than 2019)
- Monthly mortgage payment in 2019: $823
- Median home value in 2020: $215,900
- Ranked #2,507 out of 3,120 counties nationwide
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#12. Coos County
- Monthly mortgage payment in 2020: $793 (4.8% less than 2019)
- Monthly mortgage payment in 2019: $833
- Median home value in 2020: $214,300
- Ranked #2,494 out of 3,120 counties nationwide
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#11. Klamath County
- Monthly mortgage payment in 2020: $746 (0.5% less than 2019)
- Monthly mortgage payment in 2019: $750
- Median home value in 2020: $201,500
- Ranked #2,394 out of 3,120 counties nationwide
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#10. Union County
- Monthly mortgage payment in 2020: $743 (7.7% less than 2019)
- Monthly mortgage payment in 2019: $805
- Median home value in 2020: $200,500
- Ranked #2,385 out of 3,120 counties nationwide
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#9. Baker County
- Monthly mortgage payment in 2020: $693 (2.7% less than 2019)
- Monthly mortgage payment in 2019: $712
- Median home value in 2020: $187,200
- Ranked #2,291 out of 3,120 counties nationwide
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#8. Sherman County
- Monthly mortgage payment in 2020: $640 (2.4% less than 2019)
- Monthly mortgage payment in 2019: $656
- Median home value in 2020: $172,800
- Ranked #2,088 out of 3,120 counties nationwide
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#7. Wheeler County
- Monthly mortgage payment in 2020: $622 (2.0% less than 2019)
- Monthly mortgage payment in 2019: $635
- Median home value in 2020: $168,000
- Ranked #2,040 out of 3,120 counties nationwide
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#6. Lake County
- Monthly mortgage payment in 2020: $588 (5.9% greater than 2019)
- Monthly mortgage payment in 2019: $555
- Median home value in 2020: $158,800
- Ranked #1,901 out of 3,120 counties nationwide
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#5. Grant County
- Monthly mortgage payment in 2020: $580 (8.4% less than 2019)
- Monthly mortgage payment in 2019: $633
- Median home value in 2020: $156,600
- Ranked #1,874 out of 3,120 counties nationwide
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#4. Morrow County
- Monthly mortgage payment in 2020: $553 (6.7% less than 2019)
- Monthly mortgage payment in 2019: $593
- Median home value in 2020: $149,400
- Ranked #1,769 out of 3,120 counties nationwide
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#3. Malheur County
- Monthly mortgage payment in 2020: $544 (9.3% less than 2019)
- Monthly mortgage payment in 2019: $600
- Median home value in 2020: $147,000
- Ranked #1,728 out of 3,120 counties nationwide
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#2. Harney County
- Monthly mortgage payment in 2020: $486 (6.5% less than 2019)
- Monthly mortgage payment in 2019: $520
- Median home value in 2020: $131,200
- Ranked #1,458 out of 3,120 counties nationwide
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#1. Gilliam County
- Monthly mortgage payment in 2020: $464 (7.2% less than 2019)
- Monthly mortgage payment in 2019: $500
- Median home value in 2020: $125,400
- Ranked #1,342 out of 3,120 counties nationwide
