Total monthly cost of ownership
Cost to Own a Home in Madras, Oregon
A $291,000 home here costs
$2,201per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,496. The real number is $705 higher every month — 47% 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.
Madras against Jefferson County and Oregon
| Measure | Madras | Jefferson County |
|---|---|---|
| Median home value | $291,400 | $339,200 |
| Median property tax | $2,483 | $2,506 |
| Effective tax rate | 0.852% | 0.739% |
| Median gross rent | $942 | $957 |
| Population | 7,596 | 24,973 |
The weather behind that power bill
Madras sits in Jefferson County, which averages a high of 87.1°F in its hottest month and a low of 23.2°F in its coldest, with 11.2" of precipitation a year and 37% of it in a single three-month stretch. That climate drives 366 cooling and 6,185 heating degree days, which is what sets the $146 electricity line above.
See the full climate breakdown for Jefferson County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Jefferson County
Full Jefferson County cost breakdown · Every county in Oregon
Common questions
How much does it cost to own a home in Madras?
A $291,000 home in Madras, Oregon costs approximately $2,201 per month with 20% down at 6.66%. That is $1,496 principal and interest, $207 property tax, $42 homeowners insurance, $214 utilities and $243 set aside for maintenance.
What is the property tax rate in Madras?
Madras has an effective property tax rate of 0.852%, based on a median home value of $291,400 and median real estate taxes of $2,483. That is higher than the Jefferson County average of 0.739%.
What is the average home price in Madras?
The median owner-occupied home value in Madras, Oregon is $291,400, against $339,200 across Jefferson County.
Is it cheaper to rent or buy in Madras?
Median gross rent in Madras is $942 a month, against $2,201 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 Madras — 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.