Klamath Falls, Oregon.
Typical home $302,160 (-0.2% in a year), asking rent $1,303 (+1.4%). Klamath Falls, OR metro.
to buy the typical home at today's mortgage rate — +$898 (+131%) since Jan 2020.
- 1 year
- Down $476 -0%
- $302,635$302,160 since Sep 2025
- 5 years
- Up $54,240 +22%
- $247,920$302,160 since Sep 2021
Monthly payment to buy the typical home
Home value × that month's 30-year mortgage rate, 20% down, principal and interest. This is the line households feel: prices and rates compound each other.
- Klamath Falls$1,586
- Oregon$2,586
- United States$1,922
At the last five years' pace, a typical home here doubles in price every 18 years.
Typical home values in Klamath Falls, OR fell 0.2% over the past year — slower than the nation's +1.2%.
Asking rents in Klamath Falls, OR rose 1.4% over the past year — slower than the nation's +2.7%.
Owning the typical home in Klamath Falls runs $764/mo more than renting one. The gap peaked at $810 in Oct 2023.
That is $2,067 a month against $1,303 rent: a $1,586 mortgage payment, plus $157 property tax and $323 insurance & upkeep.
Owning vs renting — Klamath Falls
The owning line is the typical home's monthly payment at that month's rate, plus property tax and insurance & upkeep; the renting line is the typical asking rent; the grey line is the mortgage payment on its own. Same homes, same months, both ways of paying for a roof.
- Owning all in$2,067
- Renting$1,303
- Mortgage only$1,586
Property tax · $157/mo 0.62% of value a year — the ACS 2020-2024 median bill over the median home value for Klamath County, OR
Insurance & upkeep · $323/mo insurance, maintenance and repairs together, from the BLS Consumer Expenditure Survey — the national figure for mortgaged homeowners, scaled to this market's home value. BLS publishes the three bundled and they cannot be split.
Both are priced off the same month's home value, so they rise with the market. Neither is a quote — a specific home's bill depends on its assessment, its age and its insurer.
Living in Klamath Falls, Klamath County, Oregon
Klamath Falls is a city of 21,813 people in Klamath County. Half its households earn more than $46,693 a year and half less, against $58,830 across Klamath County; 23% of its people live below the poverty line. 49% of its homes are lived in by their owners and 51% are rented. Unemployment in Klamath County was 6.8% in August 2026, and the county had 0.1% more jobs in 2025 than the year before. The most residents work in schools and health care, then shops.
Written by AI Claude Sonnet 5.5 wrote this on 23 October 2026 from the figures here, a list of nearby places and what it knows. It can be wrong or out of date.
What it’s like
The place. Klamath Falls is a small city whose residents are younger than in many American towns, and more homes are lived in by renters than is typical. Incomes run below the county's, and more people live below the poverty line than is typical. Winters are cold, with December the coldest month, and summers are warm and dry, with little rain or melted snow over the year.
Work. Many residents work in schools, hospitals and social care, with shops, restaurants and hotels, and manufacturing also employing a good number. Among the largest workplaces in Klamath Falls are SKY Lakes Medical Center, Klamath County Schools and the Oregon Institute of Technology. Commutes are short, and unemployment across Klamath County has eased a little over the past year while the number of jobs has barely changed.
Things to do. Link River runs in or beside town, and the OC&E Woods Line State Trail, a protected area, is close by too. Moore Park offers green space in town, and the Ross Ragland Theater is the place to go for a night out. For a longer drive, Upper Klamath Lake is a lake to head for.
Report a mistake
- 9,239households
- 24%of adults have a degree
- 23%below the poverty line
- 14 mintypical commute
- 6%work from home
What residents work in
Employed residents by industry, from the Census survey. Klamath County had 23,884 jobs in 2025, 0.1% more than the year before (Bureau of Labor Statistics).
Weather through the year
Coldest in December, with highs near 40° and lows near 21°; warmest in July, with highs near 86° and lows near 48°. About 11 inches of rain and melted snow a year.
Average daily high and low, 1991–2020, at the Klamath Falls International Airport weather station, 6 miles away (NOAA).
Largest workplaces in Klamath Falls
- SKY Lakes Medical CenterGeneral hospital1,281FTE
- Klamath County SDSchool district937FTE
- Oregon Institute of TechnologyUniversity or college623
- Klamath Falls City SchoolsSchool district436FTE
- WalmartWarehouse clubs and supercenters416
- New Horizons - Oregon South - Klamath FallsCompanion services for disabled persons, the elderly, and persons diagnosed with intellectual and developmental disabilities273
- Fred Meyer StoresWarehouse clubs and supercenters259
- District OfficeK-12154
Staff on average in 2025, as each workplace reported it to OSHA with its injury records: 35 workplaces with 20 or more staff, 4,107 people in all. Hospitals come from their Medicare cost reports (CMS, 2023), school districts from the Common Core of Data (NCES, 2023–24) and colleges from IPEDS (NCES, 2023–24); FTE marks full-time equivalent staff. Not listed: many offices and banks, which need not report to OSHA; military bases, whose staff OPM withholds; and, in about half the states, city and county governments.
Natural hazards
- Winter weatherRelatively high
- EarthquakesRelatively high
- Cold wavesRelatively moderate
FEMA’s National Risk Index (December 2025) rates the risk each natural hazard poses to the people, buildings and farms in Klamath Falls’ census tracts, against the rest of the country; all of them together, relatively moderate. It is meant for planning, not a substitute for a local risk assessment or a flood map: FEMA’s index.
From the U.S. Census Bureau’s 2020 census and its American Community Survey (2020–2024 five-year estimates), and the Bureau of Labor Statistics. A survey, so each figure has a margin of error, and figures it is not sure of are left out. More on Klamath County and the Klamath Falls, OR metro.
Klamath Falls home values
Zillow measures a city over its municipal boundary. Against the state and national figures, mid-tier homes, smoothed and seasonally adjusted.
- Klamath Falls$302,160
- Oregon$492,753
- United States$366,157
Sellers are cutting prices on about 1 in 3 Klamath Falls listings, and the typical home goes pending in 34 days — the market is roughly in balance.
When this market ran hot
Each cell is that month's year-on-year home-value growth. Read left to right, top row is the latest year — the 2021–22 band is the boom.
Market heat, inside the city limits
Share of listings with a price cut
The early-warning dial: sellers cut when buyers stop reaching. Rising cuts cool a market months before prices notice.
- Klamath Falls29.08%
- United States26.90%
Days to pending
How long the typical listing takes to go under contract.
- Klamath Falls34
- United States27
Homes for sale
Active for-sale inventory. More supply hands power to buyers.
- Klamath Falls343
New listings per month
Sellers arriving at the market.
- Klamath Falls73
Median sale price
What buyers actually paid — closed sales, not asking prices.
- Klamath Falls$312,588
- United States$371,407
Sale-to-list ratio
Above 100%, homes sell over asking; below, buyers negotiate wins.
- Klamath Falls97.88%
Zip codes with a Klamath Falls address
A different geography, not a breakdown. The figure above covers the municipality; these zips cover everywhere the Post Office calls Klamath Falls — often including townships beyond the city limits. Both come straight from Zillow, and they are not expected to average out.
Zip codes in Klamath Falls
| Zip activate to sort by Zip | Place activate to sort by Place | Population sorted descending, activate to sort ascending | Rent activate to sort by Rent | Home value activate to sort by Home value |
|---|---|---|---|---|
| 97603 | Klamath Falls | 33,222 | $1,444 | $319,025 |
| 97601 | Klamath Falls | 22,964 | $1,271 | $268,621 |
| 97633 | Merrill | 1,246 | — | $274,687 |