Washington Mortgage Calculator

Calculate your monthly mortgage payment in Washington. Pre-filled with Washington's average property tax rate of 0.93%. See principal, interest, PMI, property taxes, and insurance.

$70,000

Monthly Payment Breakdown

Principal & Interest
$1,770
Property Tax
$271
Homeowner's Insurance
$100
Total Monthly Payment
$2,141

Loan Summary

Home Price
$350,000
Down Payment
$70,000
Loan Amount
$280,000
Total Interest
$357,125
Total Cost(P&I + down payment)
$707,124

See how this mortgage fits your financial plan

Your estimated payment is $2,141/month. See how it fits alongside your income, savings, investments, and other expenses over time.

Try the Full Simulator

Washington Housing Overview

Washington has an average property tax rate of 0.93%. Washington's cost of living is about 15% above the national average, with the Seattle metro area being 30%+ above average.

Property Tax: 0.93%No state income taxMajor tech hub (Seattle area)PFML payroll tax

Buying a Home in Washington

If you're considering buying a home in Washington, understanding the local housing market and costs is essential. Property taxes, insurance rates, and home prices vary significantly by area within the state. This calculator pre-fills Washington's average property tax rate of 0.93% to give you a more accurate estimate.

Washington Property Taxes

Washington has an average effective property tax rate of 0.93%. Property taxes are a significant component of your monthly housing cost — on a $350,000 home, a 0.93% rate means approximately $3255 per year, or $271 per month in property taxes alone.

Cost of Living in Washington

Washington's cost of living is about 15% above the national average, with the Seattle metro area being 30%+ above average. When evaluating whether to buy a home in Washington, consider how your mortgage payment plus other housing costs fit within the recommended 28% of gross income guideline.

Financial Tips for Washington Homebuyers

  • No state income tax plus Seattle tech salaries can mean some of the highest take-home pay in the US
  • Washington has a PFML payroll tax — a small deduction from your paycheck for paid family leave
  • Washington has a high sales tax (6.5-10.25%) which offsets some of the income tax savings
  • Washington's lack of income tax makes it especially attractive for high earners and stock-compensation workers

Key Washington Features

  • No state income tax
  • Major tech hub (Seattle area)
  • PFML payroll tax
  • High sales tax (6.5-10.25%)
  • Highest tech salaries + no income tax

See How Your Washington Mortgage Fits Your Financial Plan

This calculator shows your Washington mortgage payment. Trajectoryy's full simulator shows how that payment fits alongside your income, taxes, savings, investments, and more.

Start Simulating for Free

Compare Washington Mortgage Costs with Other States

Oregon0.90% property taxIdaho0.63% property taxCalifornia0.71% property taxNew York1.46% property taxOregon0.90% property tax

Frequently Asked Questions

What is the average property tax rate in Washington?
The average effective property tax rate in Washington is approximately 0.93%. This rate is applied to the assessed value of your property, which may differ from the market value depending on Washington's assessment practices. Property tax rates can also vary significantly by county and municipality within the state.
How much does a typical mortgage payment cost in Washington?
Your mortgage payment in Washington depends on the home price, your down payment, interest rate, and loan term. With Washington's average property tax rate of 0.93%, property taxes add a meaningful amount to your monthly payment. Use the calculator above with your specific numbers to get an accurate estimate.
Is Washington an affordable state to buy a home?
Washington's cost of living is about 15% above the national average, with the Seattle metro area being 30%+ above average. When evaluating affordability in Washington, consider not just the home price but also property taxes (0.93% average), homeowner's insurance costs, and any HOA fees common in your area.
How do Washington property taxes compare to other states?
Washington's average property tax rate of 0.93% can be compared against the national average of roughly 1.1%. States like New Jersey (2.23%) and Illinois (1.97%) have among the highest rates, while Hawaii (0.28%) and Alabama (0.40%) have among the lowest.
What first-time homebuyer programs are available in Washington?
Most states, including Washington, offer first-time homebuyer programs through their state housing finance agency. These typically include down payment assistance, below-market interest rates, and closing cost grants. Check with Washington's housing authority and the FHA, VA, and USDA loan programs for additional options.

Related Calculators

Housing

Rent vs. Buy Calculator

Monthly Rent$1,800
Home Price$350,000
Monthly Own$2,228
Equity (5yr)+$47,200
Breakeven4.2 years
5yr WinnerBuy
sample data — click to try your numbers
Savings

Savings & Investment Growth Calculator

Starting$10,000
Monthly+$500
Return8%/yr
Contributions$190,000
Earnings$555,620
Final Balance$745,620
sample data — click to try your numbers
Debt

Debt Payoff Calculator

Total Debt$18,500
Extra Payment$200/mo
StrategyAvalanche
Interest Saved$3,847
Debt-Free34 months
vs. Minimum22mo faster
sample data — click to try your numbers