Mortgage Calculator & Closing Costs: Bellingham, WA
Mortgage payment estimates, closing cost breakdowns, and homebuying data for Bellingham, Washington.
Median Home Price
$575K
Population
92K
Avg Monthly Rent
$1,780
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 Bellingham.
Bellingham vs Washington Median
The median home price in Bellingham is $575,000, which is roughly in line with the Washington state median of $580,000.
Mortgage Calculator — Bellingham, WA
Pre-filled with Bellingham median home price and Washington tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $575K home using Washington's 0.98% tax rate and $1,600/yr insurance.
5% Down
$4,374/mo
Down: $28,750
Loan: $546K
P&I: $3,453
Tax: $470
Insurance: $133
PMI: $319
10% Down
$4,176/mo
Down: $57,500
Loan: $518K
P&I: $3,271
Tax: $470
Insurance: $133
PMI: $302
20% Down (No PMI)
$3,510/mo
Down: $115,000
Loan: $460K
P&I: $2,908
Tax: $470
Insurance: $133
Income needed (28% rule): $150K/year with 20% down, $179K/year with 10% down.
Rent vs Buy in Bellingham
Rent
$1,780/mo
vs
Buy (10% down)
$4,176/mo
Price-to-rent ratio: 26.9 — At a ratio above 20, renting may be more economical in Bellingham for shorter stays. Buying costs $2,396 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 Bellingham is $575,000, roughly in line with the Washington state median of $580,000. With a population of 92,314, Bellingham is a smaller market where home prices tend to be more accessible than in many parts of Washington.
Property taxes in Washington average 0.98% annually. This moderate property tax rate means a $575,000 home in Bellingham would carry roughly $470/month in property taxes. Homeowners insurance in Washington runs approximately $1,600 per year. This is within the normal range nationally.
Average rent in Bellingham is $1,780/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.
Bellingham is a higher-cost market. At $575K 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 Bellingham.