Study reveals the average income Oregonians need to buy a typical home in 2025

PORTLAND, Ore. (KOIN) – A new Bankrate study reveals how much hopeful homebuyers need to earn to afford a typical home in each state. In Oregon, homebuyers need more than the national average.

According to Bankrate’s 2025 Housing Affordability Study released in March, homebuyers need an income of nearly $117,000 to afford a typical home in the United States.

This marks a near-50% increase since early 2020 when the needed income to buy a typical home was $78,236, Bankrate says.

According to the study, the top five states requiring the most income to afford a typical home include, the District of Columbia ($240,009), Hawaii ($235,638), California ($213,447), Massachusetts ($174,392) and Colorado ($168,643).

In Oregon, the income needed to afford a typical home in January 2020 was $89,328, Bankrate says.

But in January 2025, the average income needed in Oregon to buy a typical home rose to $138,502.

“Between elevated mortgage rates and the rise of home prices nationally to a record level, many aspiring homebuyers feel like owning a home is out of reach,” says Mark Hamrick, senior economic analyst for Bankrate. “We can’t say when these conditions will ease, but we should note that home prices and availability widely vary around the nation and even throughout larger communities or metro areas. Some combination of patience and flexibility is called for.”

Bankrate also listed the top five states requiring the least income to afford a typical home, including West Virginia ($64,179), Iowa ($70,437), Ohio ($71,080), Mississippi ($72,072) and Indiana ($72,342).

According to Bankrate, the study was based on an analysis of the minimum annual pre-tax income needed to afford a median-priced home in 2025 compared to 2020.