Mortgage payment estimates, closing cost breakdowns, and homebuying data for Tacoma, Washington.
Median Home Price
$475K
Population
219K
Avg Monthly Rent
$1,650
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 Tacoma.
Tacoma vs Washington Median
The median home price in Tacoma is $475,000, which is 18% below the Washington state median of $580,000.
Mortgage Calculator — Tacoma, WA
Pre-filled with Tacoma median home price and Washington tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $475K home using Washington's 0.98% tax rate and $1,600/yr insurance.
5% Down
$3,637/mo
Down: $23,750
Loan: $451K
P&I: $2,852
Tax: $388
Insurance: $133
PMI: $263
10% Down
$3,473/mo
Down: $47,500
Loan: $428K
P&I: $2,702
Tax: $388
Insurance: $133
PMI: $249
20% Down (No PMI)
$2,923/mo
Down: $95,000
Loan: $380K
P&I: $2,402
Tax: $388
Insurance: $133
Income needed (28% rule): $125K/year with 20% down, $149K/year with 10% down.
Rent vs Buy in Tacoma
Rent
$1,650/mo
vs
Buy (10% down)
$3,473/mo
Price-to-rent ratio: 24.0 — At a ratio above 20, renting may be more economical in Tacoma for shorter stays. Buying costs $1,823 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 Tacoma is $475,000, 18% below the Washington state median of $580,000. With a population of 219,346, Tacoma is a mid-size city 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 $475,000 home in Tacoma would carry roughly $388/month in property taxes. Homeowners insurance in Washington runs approximately $1,600 per year. This is within the normal range nationally.
Average rent in Tacoma is $1,650/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.
Tacoma is a higher-cost market. At $475K 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 Tacoma.