Cost of Living in Klamath Falls, OR

With a cost of living index of 87, Klamath Falls, OR is a very affordable place to live. Living here is 13% cheaper than the national average and 20% below the Oregon state average of 106. Klamath Falls is a smaller community of 21,879 residents, where everyday costs can differ substantially from nearby larger cities.

Housing costs are the biggest factor in Klamath Falls's cost of living. The median monthly rent is $962 (27% below the US median of $1,319), and the median home value sits at $257,400 (16% below the national median of $304,900). At current prices, the median home costs roughly 5.4x the median household income — a stretch for many buyers, though not uncommon in today's market.

The median household income in Klamath Falls is $47,268, which is 37% lower than the national median of $75,149. Residents spend roughly 24% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum. Lower incomes here are balanced by the significantly lower cost of living, stretching each dollar further.

Climate is another factor for anyone considering a move to Klamath Falls. 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.