Cost of Living in Myrtle Point, OR

With a cost of living index of 78, Myrtle Point, OR is a very affordable place to live. Living here is 22% cheaper than the national average and 29% below the Oregon state average of 106. Myrtle Point is a small community of 2,689 residents.

Housing costs are the biggest factor in Myrtle Point's cost of living. The median monthly rent is $710 (46% below the US median of $1,319), and the median home value sits at $239,700 (21% below the national median of $304,900). At current prices, the median home costs roughly 5.7x the median household income — a stretch for many buyers, though not uncommon in today's market.

The median household income in Myrtle Point is $42,357, which is 44% lower than the national median of $75,149. Residents spend roughly 20% 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 Myrtle Point. The area sees an average annual temperature of 50.4°F, with summers averaging 57°F and winters around 44°F. Annual rainfall totals 65.3 inches spread over roughly 181 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.