Total monthly cost of ownership
Cost to Own a Home in Grants Pass, Oregon
A $364,000 home here costs
$2,761per 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 $118,500 a year.
A standard mortgage calculator would have told you $1,985. The real number is $777 higher every month, 39% more than the payment most buyers budget for.
Compare Josephine County with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Grants Pass against Josephine County and Oregon
| Measure | Grants Pass | Josephine County |
|---|---|---|
| Median home value | $364,200 | $383,100 |
| Median property tax | $2,550 | $2,023 |
| Effective tax rate | 0.700% | 0.528% |
| Median gross rent | $1,160 | $1,157 |
| Population | 39,183 | 88,069 |
The weather behind that power bill
Grants Pass sits in Josephine County, which averages a high of 76.7°F in its hottest month and a low of 32.3°F in its coldest, with 40.66" of precipitation a year and 50% of it in a single three-month stretch. That climate drives 276 cooling and 6,116 heating degree days, which is what sets the $140 electricity line above.
See the full climate breakdown for Josephine County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Josephine County
Full Josephine County cost breakdown · Every county in Oregon
Talk to someone who works this market
These are Grants Pass 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 Grants Pass every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Grants Pass I already own here and may sell
Common questions
How much does it cost to own a home in Grants Pass?
A $364,000 home in Grants Pass, Oregon costs approximately $2,761 per month with 20% down at 7.24%. That is $1,985 principal and interest, $212 property tax, $52 homeowners insurance, $208 utilities and $303 set aside for maintenance.
What is the property tax rate in Grants Pass?
Grants Pass has an effective property tax rate of 0.700%, based on a median home value of $364,200 and median real estate taxes of $2,550. That is higher than the Josephine County average of 0.528%.
What is the average home price in Grants Pass?
The median owner-occupied home value in Grants Pass, Oregon is $364,200, against $383,100 across Josephine County.
Is it cheaper to rent or buy in Grants Pass?
Median gross rent in Grants Pass is $1,160 a month, against $2,761 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 Grants Pass?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Grants Pass, Oregon at today's rate takes a household income of roughly $118,500 a year. That covers the full $2,761 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Grants Pass, 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.