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Home and real estate in Klamath Falls

Homes at a glance

Fewer than half of Klamath Falls households own their home, and the median value of an owner-occupied home is $287,000.

Measure Klamath Falls
Households 9,239
Owner-occupied share 48.9%
Median home value (owner-occupied) $287,000
Owner homes valued at $300,000 or more 2,101 of 4,520 (46.5%)

The Census count of homes at $300,000 or more covers owner-occupied homes inside the city limit at self-reported values. The county assessor's count is larger because it includes every residential lot in the two Klamath Falls ZIP codes, 97601 and 97603, including rural land, at current assessed real market value: 8,492 residential lots at $300,000 or more. Treat the two as different measures, not as a conflict.

People and work

Measure Klamath Falls
Population, 2020 Census 21,813
Population, PSU certified estimate July 1, 2025 22,135
Median household income $46,693
Median age 35.2
Residents aged 65 and over 14.8%
Business establishments, ZIPs 97601 and 97603 1,275

Portland State University's estimate is 1.5 percent above the 2020 Census count. The Census Bureau's ZIP Code Business Patterns for 2023 count 1,275 business establishments with paid employees and 15,241 paid employees in the two ZIP codes. The largest sectors by number of establishments are retail (170), construction (166), health care and social assistance (166), and lodging and food service (146).

How we got these numbers

  • Households, tenure, income, home value, age and home-value brackets come from the American Community Survey 5-year estimates for 2020-2024, read through Census Reporter. Dollars are inflation-adjusted ACS dollars. Estimates carry margins of error.
  • The 8,492 lot count is from the Klamath County taxlot layer, real market value, pulled in September 2026, for ZIP codes 97601 and 97603.
  • Business counts are by ZIP code, not city limit, and leave out businesses with no paid employees.

Sources

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