Quick facts: Bonanza, OR

Quick Facts

111
Cost of Living
above US average
411
Population
109.49
Crime Rate per 1000
above US average
$90,313
Median Income
above US average
$19,999
Median House Price
above US average
$2500.0
Average Rent
above US average
12%
Poverty Rate
above US average
4.5%
Unemployment Rate
above US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $90,313.

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Income Needed to Buy

βœ“ Affordable
$6k/year
Based on $19,999 median home price
Assumes 30-year mortgage at 7% with 20% down payment
πŸ“Š Median income ($90,313) exceeds requirement
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Income Needed to Rent

⚠ Stretch
$107k/year
Based on $2500.0/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $107k vs median $90,313
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Bonanza, OR

Bonanza is a small, unincorporated community located in Klamath County, Oregon. Situated in the southern part of the state, Bonanza is surrounded by the stunning natural beauty of the Cascade Mountains and numerous rivers and lakes, making it a picturesque location for outdoor enthusiasts. The community has a rural charm, with a close-knit population that values its agricultural roots and rich natural resources. The area offers a variety of recreational opportunities, including hiking, fishing, hunting, and camping, with nearby attractions like the Klamath National Forest and Upper Klamath Lake. Although Bonanza is small, it provides access to the larger city of Klamath Falls to the north, which offers more urban amenities, shopping, and services. Local residents enjoy a quiet, peaceful lifestyle, and the community reflects a blend of rural traditions and modern interests. Bonanza's scenic surroundings and outdoor activities make it an ideal spot for those looking to experience the tranquility of Oregon's countryside.

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