Mortgage payment estimates, closing cost breakdowns, and homebuying data for Seattle, Washington.
Median Home Price
$825K
Population
737K
Avg Monthly Rent
$2,450
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 Seattle.
Seattle vs Washington Median
The median home price in Seattle is $825,000, which is 42% above the Washington state median of $580,000.
Mortgage Calculator — Seattle, WA
Pre-filled with Seattle median home price and Washington tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $825K home using Washington's 0.98% tax rate and $1,600/yr insurance.
5% Down
$6,218/mo
Down: $41,250
Loan: $784K
P&I: $4,954
Tax: $674
Insurance: $133
PMI: $457
10% Down
$5,933/mo
Down: $82,500
Loan: $743K
P&I: $4,693
Tax: $674
Insurance: $133
PMI: $433
20% Down (No PMI)
$4,979/mo
Down: $165,000
Loan: $660K
P&I: $4,172
Tax: $674
Insurance: $133
Income needed (28% rule): $213K/year with 20% down, $254K/year with 10% down.
Rent vs Buy in Seattle
Rent
$2,450/mo
vs
Buy (10% down)
$5,933/mo
Price-to-rent ratio: 28.1 — At a ratio above 20, renting may be more economical in Seattle for shorter stays. Buying costs $3,483 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 Seattle is $825,000, 42% above the Washington state median of $580,000. With a population of 737,015, Seattle is a major metro area 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 $825,000 home in Seattle would carry roughly $674/month in property taxes. Homeowners insurance in Washington runs approximately $1,600 per year. This is within the normal range nationally.
Average rent in Seattle is $2,450/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.
Seattle is a higher-cost market. At $825K 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 Seattle.