Total monthly cost of ownership
Cost to Own a Home in Wood Village, Oregon
A $282,000 home here costs
$2,253per 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 $96,500 a year.
A standard mortgage calculator would have told you $1,562. The real number is $691 higher every month, 44% more than the payment most buyers budget for.
Compare Multnomah County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Wood Village from a five-year rolling sample, and with about 4,611 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 Multnomah 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.
Wood Village against Multnomah County and Oregon
| Measure | Wood Village | Multnomah County |
|---|---|---|
| Median home value | $281,900 | $528,000 |
| Median property tax | $2,481 | $5,061 |
| Effective tax rate | 0.880% | 0.959% |
| Median gross rent | $1,430 | $1,582 |
| Population | 4,611 | 803,863 |
The weather behind that power bill
Wood Village sits in Multnomah County, which averages a high of 82.3°F in its hottest month and a low of 37.2°F in its coldest, with 40.66" of precipitation a year and 42% of it in a single three-month stretch. That climate drives 427 cooling and 4,155 heating degree days, which is what sets the $141 electricity line above.
See the full climate breakdown for Multnomah County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Multnomah County
Full Multnomah County cost breakdown · Every county in Oregon
Talk to someone who works this market
These are Wood Village 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 Wood Village every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Wood Village I already own here and may sell
Common questions
How much does it cost to own a home in Wood Village?
A $282,000 home in Wood Village, Oregon costs approximately $2,253 per month with 20% down at 7.4%. That is $1,562 principal and interest, $207 property tax, $41 homeowners insurance, $209 utilities and $235 set aside for maintenance.
What is the property tax rate in Wood Village?
Wood Village has an effective property tax rate of 0.880%, based on a median home value of $281,900 and median real estate taxes of $2,481. That is lower than the Multnomah County average of 0.959%.
What is the average home price in Wood Village?
The median owner-occupied home value in Wood Village, Oregon is $281,900, against $528,000 across Multnomah County.
Is it cheaper to rent or buy in Wood Village?
Median gross rent in Wood Village is $1,430 a month, against $2,253 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 Wood Village?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Wood Village, Oregon at today's rate takes a household income of roughly $96,500 a year. That covers the full $2,253 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Wood Village, 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.