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
Redmond's median home price sits at $1,100,000, 162% above the $420,000 national median. On a $150,000 median household income, that puts the price-to-income ratio at 7.3x, or 7.3 years of gross pay for the purchase price alone.
Factor in $880/month for property tax in Redmond, based on the area's 0.96% effective rate applied to the median home price. That's $10,560 annually.
Washington charges no state income tax. Every dollar of the $150,000 median household income here converts more directly into covering the $7,042/month payment.
Redmond's cost of living index is 192, above the 100 national baseline. That's on top of the housing numbers above, not instead of them.
Redmond's median home price runs 41% higher than nearby Seattle: $780,000 there versus $1,100,000 here.
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.