Total monthly cost of ownership
Cost to Own a Home in Depoe Bay, Oregon
A $370,000 home here costs
$2,822per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $121,000 a year.
A standard mortgage calculator would have told you $2,017. The real number is $804 higher every month, 40% more than the payment most buyers budget for.
Compare Lincoln County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Depoe Bay from a five-year rolling sample, and with about 2,025 residents that sample is small. The median home value here carries a much wider margin of error than a big-city figure does, so treat it as indicative rather than exact. The Lincoln County figures are drawn from a far larger sample if you want a steadier number.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Depoe Bay against Lincoln County and Oregon
| Measure | Depoe Bay | Lincoln County |
|---|---|---|
| Median home value | $369,900 | $387,700 |
| Median property tax | $2,813 | $3,241 |
| Effective tax rate | 0.760% | 0.836% |
| Median gross rent | $1,423 | $1,150 |
| Population | 2,025 | 50,632 |
The weather behind that power bill
Depoe Bay sits in Lincoln County, which averages a high of 64.1°F in its hottest month and a low of 39.2°F in its coldest, with 67.27" of precipitation a year and 48% of it in a single three-month stretch. That climate drives 2 cooling and 5,238 heating degree days, which is what sets the $140 electricity line above.
See the full climate breakdown for Lincoln County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Lincoln County
Talk to someone who works this market
These are Depoe Bay averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Depoe Bay every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Depoe Bay I already own here and may sell
Common questions
How much does it cost to own a home in Depoe Bay?
A $370,000 home in Depoe Bay, Oregon costs approximately $2,822 per month with 20% down at 7.24%. That is $2,017 principal and interest, $234 property tax, $53 homeowners insurance, $208 utilities and $308 set aside for maintenance.
What is the property tax rate in Depoe Bay?
Depoe Bay has an effective property tax rate of 0.760%, based on a median home value of $369,900 and median real estate taxes of $2,813. That is lower than the Lincoln County average of 0.836%.
What is the average home price in Depoe Bay?
The median owner-occupied home value in Depoe Bay, Oregon is $369,900, against $387,700 across Lincoln County.
Is it cheaper to rent or buy in Depoe Bay?
Median gross rent in Depoe Bay is $1,423 a month, against $2,822 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Depoe Bay?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Depoe Bay, Oregon at today's rate takes a household income of roughly $121,000 a year. That covers the full $2,822 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Depoe Bay, 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.