Total monthly cost of ownership
Cost to Own a Home in Monmouth, Oregon
A $381,000 home here costs
$2,856per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,959. The real number is $897 higher every month — 46% 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.
Monmouth against Polk County and Oregon
| Measure | Monmouth | Polk County |
|---|---|---|
| Median home value | $380,500 | $419,500 |
| Median property tax | $3,721 | $3,534 |
| Effective tax rate | 0.978% | 0.842% |
| Median gross rent | $1,137 | $1,270 |
| Population | 11,176 | 88,553 |
The weather behind that power bill
Monmouth sits in Polk County, which averages a high of 80.7°F in its hottest month and a low of 32.9°F in its coldest, with 81.19" of precipitation a year and 51% of it in a single three-month stretch. That climate drives 193 cooling and 5,303 heating degree days, which is what sets the $146 electricity line above.
See the full climate breakdown for Polk County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Polk County
Common questions
How much does it cost to own a home in Monmouth?
A $381,000 home in Monmouth, Oregon costs approximately $2,856 per month with 20% down at 6.66%. That is $1,959 principal and interest, $311 property tax, $55 homeowners insurance, $214 utilities and $318 set aside for maintenance.
What is the property tax rate in Monmouth?
Monmouth has an effective property tax rate of 0.978%, based on a median home value of $380,500 and median real estate taxes of $3,721. That is higher than the Polk County average of 0.842%.
What is the average home price in Monmouth?
The median owner-occupied home value in Monmouth, Oregon is $380,500, against $419,500 across Polk County.
Is it cheaper to rent or buy in Monmouth?
Median gross rent in Monmouth is $1,137 a month, against $2,856 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 Monmouth — 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.