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$601,545
$3,751/mo
$325,844
$160,761/yr
| Median Home Price | $601,545 |
| Down Payment (20%) | $120,309 |
| Loan Amount | $481,236 |
| Monthly PI Payment | $3,124 |
| Monthly Property Tax | $376 |
| Monthly Insurance Est. | $251 |
| Total Monthly PITI | $3,751 |
| Required Gross Income (28% rule) | $160,761/yr |
| Max Affordable Price (28% rule) | $325,844 |
$21,054
$4,807/mo
Washington Home Affordability Quick Reference 2026
| Metric | Value | Notes |
|---|---|---|
| Median Home Price | $601,545 | State median |
| Down Payment (20%) | $120,309 | Conventional |
| Monthly PITI (median home) | $3,751 | 6.76% rate |
| Required Income (28% rule) | $160,761 | Annual gross |
| Max Affordable Home | $325,844 | Based on median income |
| FHA Down Payment (3.5%) | $21,054 | Minimum FHA |
Monthly PITI includes principal, interest, property tax, and homeowners insurance.
The median home price in Washington is $601,545, with a current 30-year fixed mortgage rate of 6.76%. A buyer putting 20% down on the median home would carry a loan of $481,236, resulting in a monthly principal and interest payment of $3,124. Once property taxes and insurance are added, total monthly housing costs reach $3,751.
Property taxes in Washington average 0.75%, near the national average of 1.1%. On the median Washington home, property taxes add $376/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 $99,389/year can afford up to $2,319/month in total housing costs (principal, interest, taxes, and insurance). Based on Washington's current mortgage rate of 6.76% and property tax rate of 0.75%, that translates to a maximum affordable home price of approximately $325,844 with 20% down on a 30-year loan.
To comfortably afford the median Washington home priced at $601,545, you need an annual gross income of approximately $160,761. This is based on the standard 28% rule: your total monthly housing costs (principal and interest of $3,124, property taxes of $376, and insurance of $251) come to $3,751/month, which should not exceed 28% of your gross monthly income.
Washington's average property tax rate is 0.75%, which is near the national average of 1.1%. On the median Washington home of $601,545, that means annual property taxes of $4,512, or $376/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 $601,545, that is $21,054. Conventional loans typically require 5% down, though some programs allow 3%. Putting down 20% ($120,309 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.