House Affordability in Seattle
Median home price: $850K · Property tax: 0.90% · Insurance: $1,300/yr
You can afford a home up to
$200,658
Below entry-level in Seattle
Based on your $75,000 income with 20% down
Your $200,658 budget buys
Monthly payment breakdown
$1,750/mo
Home price
$200,658
Down payment
$40,132
Loan amount
$160,527
No PMI
Waived (20%+ down)
Estimates based on the 28/36 DTI guideline with Seattle-specific property tax and insurance rates. Actual mortgage approval depends on credit score, employment history, and lender criteria.
Seattle Housing Market Overview
Seattle benefits from no state income tax and a strong tech job market. Home prices have risen steadily, with the most affordable options in south King County.
The median home price in Seattle is $850,000, which is 106% above the national median of $412,000. Property taxes average 0.90% of assessed value, adding $637/month to housing costs.
Homeowners insurance averages $1,300/year ($108/month). Condos and townhomes typically carry HOA fees around $450/month.
What can you buy in Seattle?
Typical price ranges by property type in Seattle, WA (2024/2025 estimates).
| Property type | Price range | Down payment (20%) |
|---|---|---|
| Studio apartment | $300K – $450K | $60K – $90K |
| 1-bedroom condo | $400K – $650K | $80K – $130K |
| 2-bedroom condo | $600K – $900K | $120K – $180K |
| 3-bedroom home | $800K – $1.20M | $160K – $240K |
| 4-bedroom home | $1.10M – $1.80M | $220K – $360K |
Sources: Zillow, Redfin, Realtor.com (2024/2025 estimates). Prices vary by neighborhood.
Income needed to buy in Seattle
Minimum annual income to afford each property type at 28% DTI, 20% down, 6.75% rate.
| Property type | Midpoint price | Income needed |
|---|---|---|
| Studio apartment | $375K | $100,088/yr |
| 1-bedroom condo | $525K | $138,266/yr |
| 2-bedroom condo | $750K | $195,532/yr |
| 3-bedroom home | $1.00M | $259,162/yr |
| 4-bedroom home | $1.45M | $373,696/yr |
Green = achievable at Seattle's median household income of $115,000.
Cost of living context
The median household income in Seattle is $115,000, which is 53% above the national median of $75,000.
At the median income, a household can afford roughly $434K using the 28% DTI rule — which falls short of the $850K median. Many buyers need dual incomes, a larger down payment, or lower price points.
FAQ
Can I afford a house in Seattle on a $100,000 salary?
At $100K with 20% down and 6.75% interest, you can afford roughly $375K in Seattle using the 28% DTI rule. The median home price is $850K, so you may need to look at lower price points or increase your down payment.
What income do I need to buy a house in Seattle?
To afford the median price of $850K with 20% down at 6.75%, you need approximately $220,984/year (28% DTI). The median household income in Seattle is $115,000, which is below what is needed.
What are property taxes like in Seattle?
The average property tax rate is 0.90%, or $7,650/year on a median-priced home. This is near the national average of 1.2%.
What does a 2-bedroom condo cost in Seattle?
A typical 2-bedroom condo costs between $600K and $900K, with the midpoint around $750K.
Is Seattle affordable compared to other cities?
Seattle's median price of $850K is 106% above the national median of $412K. Median household income is $115,000, 53% above the national median.
Other cities
- San Francisco, CA — median $1.35M
- New York City, NY — median $780K
- Los Angeles, CA — median $950K
- Chicago, IL — median $340K
Related tools
- Washington House Affordability — statewide data
- Washington Paycheck Calculator — calculate your take-home pay
- House Affordability Calculator — compare all cities
- Compare Job Offers — factor in housing costs