CALCMONEY // HOME AFFORDABILITY // WA // BELLEVUE
How much house can you afford in Bellevue? Based on local median home prices, current WA mortgage rates, and Bellevue property tax data.
$1,100,000
$7,079/mo
$303,386/yr
$376,430
Monthly housing costs of $7,079 represent 60.7% of Bellevue's median gross monthly income ($11,667/mo). At 60.7%, median-income buyers in Bellevue are significantly stretched — well above the 28% guideline. A larger down payment or higher income is required.
| Median Home Price | $1,100,000 |
| Down Payment (20%) | $220,000 |
| Loan Amount | $880,000 |
| Monthly PI Payment | $5,796 |
| Monthly Property Tax | $825 |
| Monthly Insurance Est. | $458 |
| Total Monthly PITI | $7,079 |
| Housing Cost % of Income | 60.7% |
| Required Income (28% rule) | $303,386/yr |
| Max Affordable Home | $376,430 |
$38,500
$9,026/mo
Bellevue Home Affordability Quick Reference 2026
| Metric | Value | Notes |
|---|---|---|
| Median Home Price | $1,100,000 | Bellevue city median |
| Down Payment (20%) | $220,000 | Conventional loan |
| Monthly PITI | $7,079 | 6.9% rate, 30yr fixed |
| Required Income (28% rule) | $303,386 | Annual gross |
| Max Affordable Home | $376,430 | Based on median income |
| FHA Down (3.5%) | $38,500 | Minimum FHA |
| Housing Cost % of Income | 60.7% | Median income: $140,000/yr |
| Property Tax Rate | 0.9% | $9,900/yr on median home |
Monthly PITI includes principal, interest, property tax, and homeowners insurance. Estimates only.
The median home price in Bellevue is $1,100,000, with a local 30-year mortgage rate of 6.9%. A buyer putting 20% down carries a loan of $880,000, generating a monthly P&I payment of $5,796. Adding property taxes ($825/mo) and homeowners insurance ($458/mo) brings total monthly PITI to $7,079.
Bellevue's property tax rate of 0.9% is near the national average, adding a standard increment to monthly housing costs. On the Bellevue median home, that is $825/month, or $9,900 per year.
Washington has no state income tax, improving effective take-home pay for Bellevue residents and giving buyers additional capacity relative to equally-priced homes in high-tax states.
Using the 28% rule, a household earning Bellevue's median income of $140,000/year can afford up to $3,267/month in total housing costs. Based on Bellevue's mortgage rate of 6.9% and property tax rate of 0.9%, that translates to a maximum affordable home price of approximately $376,430 with 20% down on a 30-year loan.
To afford the median Bellevue home priced at $1,100,000, you need an annual gross income of approximately $303,386. Total monthly housing costs (principal and interest of $5,796, property taxes of $825, and insurance of $458) come to $7,079/month, which equals 28% of the required income.
At the median home price of $1,100,000 and median household income of $140,000, the total monthly housing cost of $7,079 represents 60.7% of gross monthly income. This is well above the standard 28% threshold, making Bellevue a challenging market for buyers at median income.
A conventional 20% down payment on the median Bellevue home of $1,100,000 is $220,000. An FHA loan requires just 3.5% down — $38,500 — but adds mortgage insurance of roughly $752/month, bringing total FHA payments to $9,026/month.