Nov 21, 2025 - Real Estate
How many people live mortgage-free in Oregon
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Oregon ranks among the lowest in the U.S. for homes owned outright, according to new Census Bureau data.
The big picture: The numbers underscore how rising housing costs are keeping many Oregonians — especially younger homeowners — from fully owning their homes, contributing to higher debt loads and financial strain.
By the numbers: About 37% of Oregon homes were mortgage-free in 2024, compared to 40% nationally, per the census.
- Yes, but: Oregon's share of mortgage-free homes has been slowly rising.
- A decade ago, roughly 34% of Oregon homes were paid off.
Follow the money: In 2014, the median home sale price for the Portland metro was $275,000, per stats from the RMLS Market Action Report.
- The price tag has almost doubled since then, closing out 2024 at nearly $500,000, according to Redfin.
Between the lines: Many outright homeowners are baby boomers who refinanced when mortgage rates were lower.
- Living mortgage-free doesn't mean living expense-free, but it's often reason enough for empty nesters to remain in their big houses.