Cost of Living in Bonanza, OR

With a cost of living index of 82, Bonanza, OR is a very affordable place to live. Living here is 18% cheaper than the national average and 25% below the Oregon state average of 106. Bonanza is a small community of 550 residents.

Housing costs are the biggest factor in Bonanza's cost of living. The median monthly rent is $850 (36% below the US median of $1,319), and the median home value sits at $235,200 (23% below the national median of $304,900). At current prices, the median home costs roughly 2.5x the median household income — well within traditional affordability guidelines.

The median household income in Bonanza is $92,750, which is 23% higher than the national median of $75,149. Residents spend roughly 11% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum.

Climate is another factor for anyone considering a move to Bonanza. The area sees an average annual temperature of 47.1°F, with summers averaging 64°F and winters around 32°F. Annual rainfall totals 11.1 inches spread over roughly 88 days.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.