CALCMONEY // HOME AFFORDABILITY // WA // TACOMA
How much house can you afford in Tacoma? Based on local median home prices, current WA mortgage rates, and Tacoma property tax data.
$450,000
$2,963/mo
$127,005/yr
$188,689
Monthly housing costs of $2,963 represent 52.3% of Tacoma's median gross monthly income ($5,667/mo). At 52.3%, median-income buyers in Tacoma are significantly stretched — well above the 28% guideline. A larger down payment or higher income is required.
| Median Home Price | $450,000 |
| Down Payment (20%) | $90,000 |
| Loan Amount | $360,000 |
| Monthly PI Payment | $2,371 |
| Monthly Property Tax | $405 |
| Monthly Insurance Est. | $188 |
| Total Monthly PITI | $2,963 |
| Housing Cost % of Income | 52.3% |
| Required Income (28% rule) | $127,005/yr |
| Max Affordable Home | $188,689 |
$15,750
$3,760/mo
Tacoma Home Affordability Quick Reference 2026
| Metric | Value | Notes |
|---|---|---|
| Median Home Price | $450,000 | Tacoma city median |
| Down Payment (20%) | $90,000 | Conventional loan |
| Monthly PITI | $2,963 | 6.9% rate, 30yr fixed |
| Required Income (28% rule) | $127,005 | Annual gross |
| Max Affordable Home | $188,689 | Based on median income |
| FHA Down (3.5%) | $15,750 | Minimum FHA |
| Housing Cost % of Income | 52.3% | Median income: $68,000/yr |
| Property Tax Rate | 1.08% | $4,860/yr on median home |
Monthly PITI includes principal, interest, property tax, and homeowners insurance. Estimates only.
The median home price in Tacoma is $450,000, with a local 30-year mortgage rate of 6.9%. A buyer putting 20% down carries a loan of $360,000, generating a monthly P&I payment of $2,371. Adding property taxes ($405/mo) and homeowners insurance ($188/mo) brings total monthly PITI to $2,963.
Tacoma's property tax rate of 1.08% is near the national average, adding a standard increment to monthly housing costs. On the Tacoma median home, that is $405/month, or $4,860 per year.
Washington has no state income tax, improving effective take-home pay for Tacoma residents and giving buyers additional capacity relative to equally-priced homes in high-tax states.
Using the 28% rule, a household earning Tacoma's median income of $68,000/year can afford up to $1,587/month in total housing costs. Based on Tacoma's mortgage rate of 6.9% and property tax rate of 1.08%, that translates to a maximum affordable home price of approximately $188,689 with 20% down on a 30-year loan.
To afford the median Tacoma home priced at $450,000, you need an annual gross income of approximately $127,005. Total monthly housing costs (principal and interest of $2,371, property taxes of $405, and insurance of $188) come to $2,963/month, which equals 28% of the required income.
At the median home price of $450,000 and median household income of $68,000, the total monthly housing cost of $2,963 represents 52.3% of gross monthly income. This is well above the standard 28% threshold, making Tacoma a challenging market for buyers at median income.
A conventional 20% down payment on the median Tacoma home of $450,000 is $90,000. An FHA loan requires just 3.5% down — $15,750 — but adds mortgage insurance of roughly $308/month, bringing total FHA payments to $3,760/month.
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