CALCMONEY // HOME AFFORDABILITY // WA // MEDINA
How much house can you afford in Medina? Based on local median home prices, current WA mortgage rates, and Medina property tax data.
$4,500,000
$28,764/mo
$1,232,757/yr
$259,121
Monthly housing costs of $28,764 represent 123.3% of Medina's median gross monthly income ($23,333/mo). At 123.3%, median-income buyers in Medina are significantly stretched — well above the 28% guideline. A larger down payment or higher income is required.
| Median Home Price | $4,500,000 |
| Down Payment (20%) | $900,000 |
| Loan Amount | $3,600,000 |
| Monthly PI Payment | $23,589 |
| Monthly Property Tax | $3,300 |
| Monthly Insurance Est. | $1,875 |
| Total Monthly PITI | $28,764 |
| Housing Cost % of Income | 123.3% |
| Required Income (28% rule) | $1,232,757/yr |
| Max Affordable Home | $259,121 |
$157,500
$36,706/mo
Medina Home Affordability Quick Reference 2026
| Metric | Value | Notes |
|---|---|---|
| Median Home Price | $4,500,000 | Medina city median |
| Down Payment (20%) | $900,000 | Conventional loan |
| Monthly PITI | $28,764 | 6.85% rate, 30yr fixed |
| Required Income (28% rule) | $1,232,757 | Annual gross |
| Max Affordable Home | $259,121 | Based on median income |
| FHA Down (3.5%) | $157,500 | Minimum FHA |
| Housing Cost % of Income | 123.3% | Median income: $280,000/yr |
| Property Tax Rate | 0.88% | $39,600/yr on median home |
Monthly PITI includes principal, interest, property tax, and homeowners insurance. Estimates only.
The median home price in Medina is $4,500,000, with a local 30-year mortgage rate of 6.85%. A buyer putting 20% down carries a loan of $3,600,000, generating a monthly P&I payment of $23,589. Adding property taxes ($3,300/mo) and homeowners insurance ($1,875/mo) brings total monthly PITI to $28,764.
Medina's property tax rate of 0.88% is near the national average, adding a standard increment to monthly housing costs. On the Medina median home, that is $3,300/month, or $39,600 per year.
Washington has no state income tax, improving effective take-home pay for Medina residents and giving buyers additional capacity relative to equally-priced homes in high-tax states.
Using the 28% rule, a household earning Medina's median income of $280,000/year can afford up to $6,533/month in total housing costs. Based on Medina's mortgage rate of 6.85% and property tax rate of 0.88%, that translates to a maximum affordable home price of approximately $259,121 with 20% down on a 30-year loan.
To afford the median Medina home priced at $4,500,000, you need an annual gross income of approximately $1,232,757. Total monthly housing costs (principal and interest of $23,589, property taxes of $3,300, and insurance of $1,875) come to $28,764/month, which equals 28% of the required income.
At the median home price of $4,500,000 and median household income of $280,000, the total monthly housing cost of $28,764 represents 123.3% of gross monthly income. This is well above the standard 28% threshold, making Medina a challenging market for buyers at median income.
A conventional 20% down payment on the median Medina home of $4,500,000 is $900,000. An FHA loan requires just 3.5% down — $157,500 — but adds mortgage insurance of roughly $3,076/month, bringing total FHA payments to $36,706/month.