Market Overview
Home Prices in Klamath Falls, OR
The median home value in Klamath Falls, OR is $313,957 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 2% compared to a year ago and up 3% from two years prior.
Compared to the U.S. national median of $410,000, homes in Klamath Falls are priced23% below average. Klamath Falls is part of the Klamath Falls, OR metro area.
Over the past five years, Klamath Falls home values have risen by approximately28.2%, reflecting strong long-term appreciation in this market.
Price History
Klamath Falls Home Price Trend
City Comparison
Klamath Falls vs. National Median
At $313,957, homes in Klamath Falls cost 23% below the national median of $410,000. This makes Klamath Falls a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Klamath Falls?
20% Down Payment
$62,791
on $313,957
Monthly P&I
$1,637/mo
30-yr @ 6.8%
Total Monthly Est.
~$2,079/mo
incl. taxes & insurance
Income Needed
$83,160
gross annual (30% rule)
10% Down Option
$31,396
+ PMI applies
Loan Amount (20% dn)
$251,166
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Klamath Falls, OR?
The median home value in Klamath Falls is $313,957 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 2% year-over-year.
How much have home prices changed in Klamath Falls?
Over the past year, home values in Klamath Falls have increased by 2%. Over five years, prices have risen approximately 28.2%.
How much do I need to earn to buy a home in Klamath Falls?
To comfortably afford the median home price of $313,957 with a 20% down payment ($62,791) at today's rates (6.8%), you'd need a gross annual income of approximately $83,160. This assumes keeping total housing costs at or below 30% of gross income.
How does Klamath Falls compare to the national average home price?
The national median home value is approximately $410,000. At $313,957, homes in Klamath Falls are 23% below the national average.
What metro area is Klamath Falls part of?
Klamath Falls is part of the Klamath Falls, OR metropolitan area. Home prices and market conditions can vary across the broader metro region.