Total monthly cost of ownership
Cost to Own a Home in Philomath, Oregon
A $376,000 home here costs
$2,974per month, all in, with 20% down at today's 7.40% 30-year fixed rate. By the 28% rule that takes a household income of about $127,500 a year.
A standard mortgage calculator would have told you $2,083. The real number is $892 higher every month, 43% more than the payment most buyers budget for.
Compare Benton 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.
Philomath against Benton County and Oregon
| Measure | Philomath | Benton County |
|---|---|---|
| Median home value | $375,600 | $481,700 |
| Median property tax | $3,777 | $4,713 |
| Effective tax rate | 1.006% | 0.978% |
| Median gross rent | $1,415 | $1,359 |
| Population | 5,537 | 96,359 |
The weather behind that power bill
Philomath sits in Benton County, which averages a high of 83.0°F in its hottest month and a low of 27.8°F in its coldest, with 68.75" of precipitation a year and 51% of it in a single three-month stretch. That climate drives 139 cooling and 5,668 heating degree days, which is what sets the $141 electricity line above.
See the full climate breakdown for Benton County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Benton County
Talk to someone who works this market
These are Philomath 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 Philomath every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Philomath I already own here and may sell
Common questions
How much does it cost to own a home in Philomath?
A $376,000 home in Philomath, Oregon costs approximately $2,974 per month with 20% down at 7.4%. That is $2,083 principal and interest, $315 property tax, $54 homeowners insurance, $209 utilities and $313 set aside for maintenance.
What is the property tax rate in Philomath?
Philomath has an effective property tax rate of 1.006%, based on a median home value of $375,600 and median real estate taxes of $3,777. That is higher than the Benton County average of 0.978%.
What is the average home price in Philomath?
The median owner-occupied home value in Philomath, Oregon is $375,600, against $481,700 across Benton County.
Is it cheaper to rent or buy in Philomath?
Median gross rent in Philomath is $1,415 a month, against $2,974 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 Philomath?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Philomath, Oregon at today's rate takes a household income of roughly $127,500 a year. That covers the full $2,974 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Philomath, 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.