Mortgage payment estimates, closing cost breakdowns, and homebuying data for Bellevue, Washington.
Median Home Price
$1.1M
Population
152K
Avg Monthly Rent
$2,850
Property Tax Rate
0.98% *
* Property tax shown is the Washington state average effective rate. Actual rates vary by county, city, and school district — check with your local assessor for exact rates in Bellevue.
Bellevue vs Washington Median
The median home price in Bellevue is $1,150,000, which is 98% above the Washington state median of $580,000.
Mortgage Calculator — Bellevue, WA
Pre-filled with Bellevue median home price and Washington tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $1.1M home using Washington's 0.98% tax rate and $1,600/yr insurance.
5% Down
$8,615/mo
Down: $57,500
Loan: $1.1M
P&I: $6,905
Tax: $939
Insurance: $133
PMI: $637
10% Down
$8,218/mo
Down: $115,000
Loan: $1.0M
P&I: $6,542
Tax: $939
Insurance: $133
PMI: $604
20% Down (No PMI)
$6,888/mo
Down: $230,000
Loan: $920K
P&I: $5,815
Tax: $939
Insurance: $133
Income needed (28% rule): $295K/year with 20% down, $352K/year with 10% down.
Rent vs Buy in Bellevue
Rent
$2,850/mo
vs
Buy (10% down)
$8,218/mo
Price-to-rent ratio: 33.6 — At a ratio above 20, renting may be more economical in Bellevue for shorter stays. Buying costs $5,368 more per month than renting, and it typically takes 5-7 years to break even on the transaction costs of buying.
The median home price in Bellevue is $1,150,000, 98% above the Washington state median of $580,000. With a population of 151,854, Bellevue is a mid-size city where home prices reflect strong demand and local economic factors.
Property taxes in Washington average 0.98% annually. This moderate property tax rate means a $1,150,000 home in Bellevue would carry roughly $939/month in property taxes. Homeowners insurance in Washington runs approximately $1,600 per year. This is within the normal range nationally.
Average rent in Bellevue is $2,850/month. With a price-to-rent ratio above 20, renting could be more economical in the short term — use our Rent vs Buy calculator to model your specific timeline.
Bellevue is a higher-cost market. At $1.1M median, buyers need significant savings or strong income. Down payment assistance through Washington's WSHFC Home Advantage program becomes especially important.
Run a Rent vs Buy analysis
Compare total costs of renting vs buying in Bellevue.