CALCMONEY // HOME AFFORDABILITY // WA
Find out how much home you can afford in Washington using local median home prices, current mortgage rates, and WA-specific property tax data.
Open Full Calculator$590,000
$3,845/mo
$223,274
$164,789/yr
| Median Home Price | $590,000 |
| Down Payment (20%) | $118,000 |
| Loan Amount | $472,000 |
| Monthly PI Payment | $3,093 |
| Monthly Property Tax | $506 |
| Monthly Insurance Est. | $246 |
| Total Monthly PITI | $3,845 |
| Required Gross Income (28% rule) | $164,789/yr |
| Max Affordable Price (28% rule) | $223,274 |
$20,650
$4,886/mo
Washington Home Affordability Quick Reference 2026
| Metric | Value | Notes |
|---|---|---|
| Median Home Price | $590,000 | State median |
| Down Payment (20%) | $118,000 | Conventional |
| Monthly PITI (median home) | $3,845 | 6.85% rate |
| Required Income (28% rule) | $164,789 | Annual gross |
| Max Affordable Home | $223,274 | Based on median income |
| FHA Down Payment (3.5%) | $20,650 | Minimum FHA |
Monthly PITI includes principal, interest, property tax, and homeowners insurance.
The median home price in Washington is $590,000, with a current 30-year fixed mortgage rate of 6.85%. A buyer putting 20% down on the median home would carry a loan of $472,000, resulting in a monthly principal and interest payment of $3,093. Once property taxes and insurance are added, total monthly housing costs reach $3,845.
Property taxes in Washington average 1.03%, near the national average of 1.1%. On the median Washington home, property taxes add $506/month to total housing costs.
Washington has no state income tax, which increases effective take-home pay relative to higher-tax states and can improve overall buying power for WA residents.
Using the 28% rule, a household earning Washington's median income of $82,400/year can afford up to $1,923/month in total housing costs (principal, interest, taxes, and insurance). Based on Washington's current mortgage rate of 6.85% and property tax rate of 1.03%, that translates to a maximum affordable home price of approximately $223,274 with 20% down on a 30-year loan.
To comfortably afford the median Washington home priced at $590,000, you need an annual gross income of approximately $164,789. This is based on the standard 28% rule: your total monthly housing costs (principal and interest of $3,093, property taxes of $506, and insurance of $246) come to $3,845/month, which should not exceed 28% of your gross monthly income.
Washington's average property tax rate is 1.03%, which is near the national average of 1.1%. On the median Washington home of $590,000, that means annual property taxes of $6,077, or $506/month. Because lenders include property taxes in your debt-to-income calculation, Washington's property taxes have a relatively modest impact on overall affordability.
The minimum down payment depends on your loan type. For an FHA loan, you can put down as little as 3.5% — on the median Washington home of $590,000, that is $20,650. Conventional loans typically require 5% down, though some programs allow 3%. Putting down 20% ($118,000 on the median Washington home) lets you avoid private mortgage insurance (PMI), which can add 0.5%–1% to your annual loan cost. There are no Washington-specific minimum down payment requirements beyond federal guidelines.