Washington State Mortgage Calculator 2026 — Seattle Area Costs | US Financial Calculators

Median Washington home ($570,000) — 20% down — 7% rate — 30yr

Component	Monthly	Annual
Principal & Interest	$3,033.78	$36,405
Property Tax (0.98%)	$465.50	$5,586
Homeowners Insurance	$150.00	$1,800
Total PITI	$3,649.28	$43,791

Total interest over 30yr: $636,161. PMI not included.

Monthly property tax on a $400,000 home by state

State	Avg Rate	Monthly/$400k
Alabama	0.41%	$136.67
Alaska	1.04%	$346.67
Arizona	0.62%	$206.67
Arkansas	0.62%	$206.67
California	0.76%	$253.33
Colorado	0.51%	$170.00
Connecticut	1.79%	$596.67
Delaware	0.57%	$190.00
Florida	0.89%	$296.67
Georgia	0.92%	$306.67
Hawaii	0.29%	$96.67
Idaho	0.69%	$230.00
Illinois	2.23%	$743.33
Indiana	0.85%	$283.33
Iowa	1.57%	$523.33
Kansas	1.41%	$470.00
Kentucky	0.86%	$286.67
Louisiana	0.55%	$183.33
Maine	1.09%	$363.33
Maryland	1.09%	$363.33
Massachusetts	1.14%	$380.00
Michigan	1.54%	$513.33
Minnesota	1.12%	$373.33
Mississippi	0.81%	$270.00
Missouri	1.01%	$336.67
Montana	0.84%	$280.00
Nebraska	1.73%	$576.67
Nevada	0.55%	$183.33
New Hampshire	1.93%	$643.33
New Jersey	2.23%	$743.33
New Mexico	0.80%	$266.67
New York	1.72%	$573.33
North Carolina	0.80%	$266.67
North Dakota	0.98%	$326.67
Ohio	1.53%	$510.00
Oklahoma	0.88%	$293.33
Oregon	0.87%	$290.00
Pennsylvania	1.49%	$496.67
Rhode Island	1.53%	$510.00
South Carolina	0.57%	$190.00
South Dakota	1.22%	$406.67
Tennessee	0.67%	$223.33
Texas	1.60%	$533.33
Utah	0.52%	$173.33
Vermont	1.83%	$610.00
Virginia	0.87%	$290.00
Washington ★	0.98%	$326.67
Washington DC	0.55%	$183.33
West Virginia	0.59%	$196.67
Wisconsin	1.76%	$586.67
Wyoming	0.61%	$203.33

Washington has a moderate property tax rate of 0.98%, near the national average. However, Seattle metro area home prices are among the highest in the nation, making total property tax bills substantial in dollar terms. Washington limits property tax increases to 1% per year for existing properties (Initiative 747). Seattle and surrounding King County have seen significant home price appreciation driven by the tech industry.

Median home price: $570,000. Average property tax: 0.98%. Cost of living index: 118 (US avg = 100).

What is the average property tax rate in Washington?

The average effective property tax rate in Washington is 0.98%. This means on a $570,000 home, you would pay approximately $5,586/year ($465.50/month) in property taxes. Note that actual property taxes are based on the county-assessed value, which may differ from the purchase price, and individual rates vary by county.

How much do I need to earn to afford a home in Washington?

At the Washington median home price of $570,000 with 20% down and a 7% rate, total monthly housing costs (PITI) are approximately $3,649.28. Using the 28% housing-to-income rule, you would need a gross monthly income of about $13,033.14, or $156,398/year. With less down payment or higher home price, the required income increases.

Is Washington a community property state?

Washington is a common law (equitable distribution) state. Spouses can own property separately, and lenders typically evaluate only the borrower(s) named on the mortgage application.

Should I get a 15-year or 30-year mortgage?

A 30-year mortgage has lower monthly payments but you pay significantly more interest over time. For example, on a $456,000 loan at 7%, monthly P&I is $3,033.78 (30yr) vs. $4,098.66 (15yr). Choose 30-year if cash flow is tight; choose 15-year if you can comfortably afford the higher payment.

What other costs should I budget for when buying in Washington?

Beyond the mortgage payment, budget for: (1) Closing costs — typically 2–5% of the loan amount at purchase; (2) Home inspection — $300–$600; (3) Property taxes — $5,586/year at Washington average rates on a $570,000 home; (4) Homeowners insurance — $1,200–$2,400/year; (5) HOA fees if applicable; (6) Maintenance reserve — budget 1–2% of home value annually.

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