Mortgage Rates in Klamath Falls, Oregon — March 2026
Updated March 2026 | Based on Klamath Falls market data and regional lending conditions
Klamath Falls is a growing city in Oregon with a population of 21,813. The current 30-year fixed mortgage rate in Klamath Falls is 6.23%, which is 0.42% below the national average. With a median home price of $245,000 and a 20% down payment of $49,000, homebuyers can expect a monthly principal and interest payment of approximately $1,205.
Current Mortgage Rates in Klamath Falls, OR
Below are the current average mortgage rates available in the Klamath Falls area as of March 2026. Rates vary by lender, credit score, and loan-to-value ratio. Use our free calculator above to see your personalized estimate.
| Loan Type | Rate | National Avg | Difference |
|---|---|---|---|
| 30-Year Fixed | 6.23% | 6.65% | -0.42% |
| 15-Year Fixed | 5.47% | 5.89% | -0.42% |
| 5/1 ARM | 5.73% | 6.15% | -0.42% |
| FHA | 5.83% | 6.25% | -0.42% |
| VA | 5.63% | 6.05% | -0.42% |
| Jumbo | 6.43% | 6.85% | -0.42% |
Klamath Falls Housing Market Overview
The Klamath Falls housing market offers relatively affordable housing compared to many major cities. The median household income in Klamath Falls is $35,000, and the cost of living index is 90 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $59,786 to comfortably afford the median-priced home in Klamath Falls, which exceeds the current median household income.
Monthly Payment Breakdown for Klamath Falls
Based on the median home price of $245,000 with 20% down ($49,000), here is what you can expect to pay monthly in Klamath Falls:
15-Year vs. 30-Year Mortgage in Klamath Falls
Choosing a 15-year mortgage in Klamath Falls at 5.47% instead of a 30-year at 6.23% would save you $146,160 in total interest over the life of the loan. However, your monthly payment would be $1,598 instead of $1,205 — an increase of $393 per month.
Calculate Your Klamath Falls Mortgage Payment
Use our free calculator to get a personalized estimate based on your loan amount, interest rate, and term.
Open Free CalculatorFrequently Asked Questions About Mortgages in Klamath Falls
What are the current mortgage rates in Klamath Falls, OR?
As of March 2026, the average 30-year fixed mortgage rate in Klamath Falls, Oregon is 6.23%, while the 15-year fixed rate is 5.47%. FHA loans average 5.83% and VA loans 5.63%. These rates are 0.42% below the national average of 6.65%.
How much is a monthly mortgage payment in Klamath Falls?
Based on the median home price of $245,000 with 20% down, the estimated monthly mortgage payment in Klamath Falls is $1,205 for principal and interest. Including property taxes of $190/month, the total monthly housing cost is approximately $1,395.
What income do I need to buy a home in Klamath Falls?
Using the 28% rule, you would need an annual income of approximately $59,786 to afford the median-priced home in Klamath Falls at $245,000. The median household income in Klamath Falls is $35,000. This means most households would need to either earn above the median or consider homes below $245,000.
Is Klamath Falls a good place to buy a home in 2026?
Klamath Falls offers a below-average cost of living with a cost of living index of 90 (national average = 100). The property tax rate in Oregon is 0.93%, which is near the national average. Klamath Falls has a population of 21,813 and offers a very affordable lifestyle.
Mortgage Rates in Other Oregon Cities
Related Tools & Guides
Last updated: March 2026. Rates are approximate averages based on regional lending data for the Klamath Falls, Oregon area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.