Reverse mortgages in Medford
If you own a home in Medford and are 62 or older, a HECM reverse mortgage can turn part of your equity into cash without a monthly mortgage payment. Whether it makes sense here comes down to a few local facts, starting with who lives here and what homes are worth.
| Measure | Medford | Oregon | U.S. |
|---|---|---|---|
| Residents 65 and older | 19.5% | 21% | 18.9% |
| Owner-occupied homes | 56.3% | 63.3% | 65.2% |
| Median home value | $417,100 | $477,600 | $332,700 |
| Monthly owner costs, no mortgage | $619 | $684 | $638 |
| Monthly owner costs, with mortgage | $1,884 | $2,157 | $1,963 |
| Median household income | $73,230 | $83,011 | $80,734 |
| Veterans | 6,004 | 246,300 | 16,185,883 |
Monthly owner costs are medians and include taxes, insurance, utilities and any mortgage. The Census reports these up to $4,000.
Veterans in Medford
Census counts 6,004 veterans in Medford, or roughly 7 in every 100 people, compared with about 5 nationally. The VA does not offer a reverse mortgage, but a VA cash-out refinance may fit if you can carry a payment.
A HECM is FHA insured, and it can sit on a home bought with a VA loan once that loan is paid off. If you receive a need-based VA pension or other need-based benefits, talk to an accredited representative first, since cash held in an account may count.
Home prices around Medford
Over the past five years, the Medford metro area has seen home values move +22.0%, according to FHFA, with +3.9% in the latest year. Oregon as a whole moved +15.8% over the same five years.
Applied to the $417,100 Census median, that five-year change works out to roughly $80,000 of value, on a home that would have been about $340,000 back then. Your own home may have done better or worse.
With prices still climbing, some owners want to lock in access to equity now. A HECM line of credit does not depend on later appraisals, but your balance grows as you draw and interest accrues.
What a mortgage payment costs Medford owners
Census data shows monthly owner costs in Medford of $1,884 with a mortgage and $619 without one. That gap of $1,265 is a rough look at what a paid-off house is worth to a monthly budget.
A HECM must first pay off any existing mortgage. After that, no monthly mortgage payment is required, though the unpaid interest adds to your balance. It is a trade of monthly cash flow now for less equity later.
Could you carry $619 a month in Medford?
That is the median monthly cost for Medford owners with no mortgage at all, and those costs continue for as long as you hold a reverse loan.
We budget them before we talk about proceeds. A lender will too: it verifies income and subtracts expenses to see what is left each month, and if that falls short, it may require funds to be set aside.
Property tax help in Jackson County
With monthly no-mortgage costs of $619 here, tax relief is worth checking first. Oregon's Senior and Disabled Property Tax Deferral has a 2026 household income limit of $70,000 and charges 6 percent simple interest. Here is the catch: the Department of Revenue only names reverse mortgages taken out between July 1, 2011 and January 1, 2017 as possibly qualifying. Talk to the Jackson County assessor before you sign a reverse loan if deferral matters to you. See the full Oregon reverse mortgage guide.
The rules in brief
All borrowers must be 62 or older and live in the home as their principal residence, and you must first meet with a HUD-approved counselor (1-800-569-4287). The loan comes due when the last borrower dies, sells or moves out. Our reverse mortgage guide covers costs, spouses, heirs and how you can receive funds. You can also compare it to a HELOC, or see our full Medford mortgage page.
More in Oregon: Eugene, Hillsboro, Beaverton, Springfield, Corvallis, Salem.
Sources: U.S. Census Bureau QuickFacts (American Community Survey 2020-2024, population estimates July 2025). FHFA House Price Index, 2026 Q2. HUD 2026 HECM limit.
Common questions
Can I get a reverse mortgage on my Medford home?
Many Medford owners can. The tests are your age (62 or older), your equity, your ability to keep up with taxes and insurance, and whether the property meets FHA standards.
Does the HECM limit matter for a Medford home?
Most are comfortably under it. The 2026 limit is $1,249,125, and the Medford median is $417,100, so proceeds are driven by your age, the appraisal and rates rather than the cap.
How much have home values risen near Medford?
FHFA shows Medford metro at +3.9% over one year and +22.0% over five years as of the second quarter of 2026.
Who still pays the Jackson County property tax bill?
The homeowner. A reverse loan does not replace your Jackson County tax bill, and unpaid taxes can trigger repayment.
Bayview Residential is a mortgage broker and is not affiliated with HUD or FHA. A reverse mortgage is a loan that must be repaid, and the balance grows over time. You must keep paying property taxes, insurance and home maintenance, and live in the home as your principal residence. All loans are subject to eligibility and approval. This page is general information and not legal, tax or benefits advice.