CALCMONEY // MORTGAGE // WA // REDMOND
Calculate your monthly mortgage payment using Redmond-specific property tax rates and local market data.
$1,100,000
6.9%
0.96%
192
| Principal & Interest | $5,796 |
| Property Tax | $880 |
| Homeowners Insurance (est.) | $367 |
| Total Monthly Payment (PITI) | $7,042 |
$220,000
$1,206,445
$301,815/yr
The median home price in Redmond is $1,100,000, above the national median of $420,000. With a median household income of $150,000, the price-to-income ratio is 7.3x — meaning buyers typically spend 7.3 years of gross income on the purchase price.
Property taxes in Redmond run 0.96% of assessed value. On the median home, that is $10,560 per year, or $880 per month added to your mortgage payment. This is close to the national average of 1.1%.
Washington has no state income tax, which means more of your gross salary becomes take-home pay. This effectively increases your purchasing power compared to income-tax states.
The cost of living index in Redmond is 192 (national average = 100). Expect to pay more for groceries, transportation, and services in addition to housing.
Once you have your payment estimate, comparing lenders is the most important step. A 0.25% rate difference on a $880,000 loan saves $39,600 in interest over 30 years.
Compare Top Redmond Mortgage LendersNeighborhood-level data for 1 ZIP codes in Redmond. Rates, home prices, and estimated payments vary by area.