Compare Medford, OR mortgage rates and fees from top lenders. Review free, personalized mortgage rates based on your specifc loan amount, program and other factors. Easily compare APRs, closing costs and monthly payments to find the lowest mortgage rates in Medford.
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May 23, 2022
Below we provide helpful information on the real estate market, home prices and housing affordability in Medford. Understand how much you need to earn to afford a home in Medford, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Medford fits your budget. This information is based on proprietary analysis you can only find on FREEandCLEAR and we offer it to help you decide if living in Medford is right for you.
The median home value for Medford, OR (Jackson County) is $408,830
Based on current mortgage rates and a 10% down payment, you need to make $66,985 per year to buy the median priced home in Medford
With this income, you could qualify for a $367,947 mortgage, assuming your monthly debt expense is reasonable
Based on this loan amount, the monthly mortgage payment required to buy the median priced home in Medford is $1,551
The median household income for Medford, OR (Jackson County) is $61,015
Based on this income, you can afford a home valued at approximately $372,394
The home price you can afford to buy based on household income in Medford is 91% of the median home value which means housing prices are expensive. Medford (Jackson County) ranks 32 out of 36 counties in Oregon and 3,065 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Medford, OR is expensive
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Medford (Jackson County) below.
Conforming loan limits for Medford, OR
FHA loan limits for Medford, OR
VA loan limits for Medford, OR