CALCMONEY // HOME AFFORDABILITY // WA // SEATTLE
How much house can you afford in Seattle? Based on local median home prices, current WA mortgage rates, and Seattle property tax data.
$780,000
$5,033/mo
$215,686/yr
$311,962
Monthly housing costs of $5,033 represent 54.9% of Seattle's median gross monthly income ($9,167/mo). At 54.9%, median-income buyers in Seattle are significantly stretched — well above the 28% guideline. A larger down payment or higher income is required.
| Median Home Price | $780,000 |
| Down Payment (20%) | $156,000 |
| Loan Amount | $624,000 |
| Monthly PI Payment | $4,110 |
| Monthly Property Tax | $598 |
| Monthly Insurance Est. | $325 |
| Total Monthly PITI | $5,033 |
| Housing Cost % of Income | 54.9% |
| Required Income (28% rule) | $215,686/yr |
| Max Affordable Home | $311,962 |
$27,300
$6,413/mo
Seattle Home Affordability Quick Reference 2026
| Metric | Value | Notes |
|---|---|---|
| Median Home Price | $780,000 | Seattle city median |
| Down Payment (20%) | $156,000 | Conventional loan |
| Monthly PITI | $5,033 | 6.9% rate, 30yr fixed |
| Required Income (28% rule) | $215,686 | Annual gross |
| Max Affordable Home | $311,962 | Based on median income |
| FHA Down (3.5%) | $27,300 | Minimum FHA |
| Housing Cost % of Income | 54.9% | Median income: $110,000/yr |
| Property Tax Rate | 0.92% | $7,176/yr on median home |
Monthly PITI includes principal, interest, property tax, and homeowners insurance. Estimates only.
The median home price in Seattle is $780,000, with a local 30-year mortgage rate of 6.9%. A buyer putting 20% down carries a loan of $624,000, generating a monthly P&I payment of $4,110. Adding property taxes ($598/mo) and homeowners insurance ($325/mo) brings total monthly PITI to $5,033.
Seattle's property tax rate of 0.92% is near the national average, adding a standard increment to monthly housing costs. On the Seattle median home, that is $598/month, or $7,176 per year.
Washington has no state income tax, improving effective take-home pay for Seattle residents and giving buyers additional capacity relative to equally-priced homes in high-tax states.
Using the 28% rule, a household earning Seattle's median income of $110,000/year can afford up to $2,567/month in total housing costs. Based on Seattle's mortgage rate of 6.9% and property tax rate of 0.92%, that translates to a maximum affordable home price of approximately $311,962 with 20% down on a 30-year loan.
To afford the median Seattle home priced at $780,000, you need an annual gross income of approximately $215,686. Total monthly housing costs (principal and interest of $4,110, property taxes of $598, and insurance of $325) come to $5,033/month, which equals 28% of the required income.
At the median home price of $780,000 and median household income of $110,000, the total monthly housing cost of $5,033 represents 54.9% of gross monthly income. This is well above the standard 28% threshold, making Seattle a challenging market for buyers at median income.
A conventional 20% down payment on the median Seattle home of $780,000 is $156,000. An FHA loan requires just 3.5% down — $27,300 — but adds mortgage insurance of roughly $533/month, bringing total FHA payments to $6,413/month.
Spokane
$320,000 median
WATacoma
$450,000 median
WABellevue
$1,100,000 median
WARedmond
$1,100,000 median