Total monthly cost of ownership
Cost to Own a Home in Cedar Mill, Oregon
A $839,000 home here costs
$5,965per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $4,313. The real number is $1,652 higher every month — 38% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Cedar Mill against Multnomah County and Oregon
| Measure | Cedar Mill | Multnomah County |
|---|---|---|
| Median home value | $839,200 | $528,000 |
| Median property tax | $7,409 | $5,061 |
| Effective tax rate | 0.883% | 0.959% |
| Median gross rent | $1,780 | $1,582 |
| Population | 19,482 | 803,863 |
Cedar Mill extends across 2 counties. Figures here use Multnomah County, where most of its housing sits.
The weather behind that power bill
Cedar Mill sits in Multnomah County, which averages a high of 82.3°F in its hottest month and a low of 37.2°F in its coldest, with 40.66" of precipitation a year and 42% of it in a single three-month stretch. That climate drives 427 cooling and 4,155 heating degree days, which is what sets the $146 electricity line above.
See the full climate breakdown for Multnomah County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Multnomah County
Full Multnomah County cost breakdown · Every county in Oregon
Common questions
How much does it cost to own a home in Cedar Mill?
A $839,000 home in Cedar Mill, Oregon costs approximately $5,965 per month with 20% down at 6.66%. That is $4,313 principal and interest, $617 property tax, $121 homeowners insurance, $214 utilities and $699 set aside for maintenance.
What is the property tax rate in Cedar Mill?
Cedar Mill has an effective property tax rate of 0.883%, based on a median home value of $839,200 and median real estate taxes of $7,409. That is lower than the Multnomah County average of 0.959%.
What is the average home price in Cedar Mill?
The median owner-occupied home value in Cedar Mill, Oregon is $839,200, against $528,000 across Multnomah County.
Is it cheaper to rent or buy in Cedar Mill?
Median gross rent in Cedar Mill is $1,780 a month, against $5,965 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Cedar Mill — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for Oregon.
- Electricity price — EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate — Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.