Mortgage Affordability Calculator for Washington (WA) — Free Calculator

Buying a Home in Washington: What You Can Afford

The median home value in Washington is $530,000. Seattle metro has moderated from its 2022 peak but remains among the nation's most expensive markets. Eastern Washington (Spokane, Tri-Cities) offers far more affordable pricing and has attracted remote workers.

Conforming Loan Limits in Washington

The conforming loan limit in Washington is $1,089,300. King County qualifies for high-cost limits. Most other Washington counties are at the standard limit. Loans above this threshold are considered jumbo loans and typically carry stricter qualification requirements and slightly higher rates.

Property Taxes to Budget For

Beyond your mortgage payment, budget for Washington's property taxes: the effective rate is 0.87%, meaning a home at the median value generates about $4,061/year in taxes. This is a real cost that lenders include in your debt-to-income (DTI) calculation.

Closing Costs in Washington

Buyers typically pay around $3,300 in closing costs in Washington. Washington charges a Real Estate Excise Tax (REET) ranging from 1.1% to 3% of sale price (progressive based on value). This is among the higher transfer tax structures nationally for luxury-priced homes. Factor this into your upfront cash requirement alongside your down payment.

Data: Tax Foundation (2024), US Census Bureau ACS 2023, Zillow, ATTOM Data Solutions. Updated 2024–2025. Figures reflect state averages — consult a licensed professional for personalized advice.

Mortgage Affordability Calculator for Other States

Frequently Asked Questions

What is the median home price in Washington?

The median home value in Washington is $530,000. Seattle metro has moderated from its 2022 peak but remains among the nation's most expensive markets. Eastern Washington (Spokane, Tri-Cities) offers far more affordable pricing and has attracted remote workers.

What is the conforming loan limit in Washington?

The conforming loan limit in most of Washington is $1,089,300. King County qualifies for high-cost limits. Most other Washington counties are at the standard limit.

How much are property taxes in Washington?

Washington's effective property tax rate is 0.87%, with an average annual bill of $4,061. Lenders include property taxes in your monthly PITI payment and DTI calculation.

How much do I need for a down payment in Washington?

For a home at Washington's median value of $530,000, a 20% conventional down payment is $106,000, and a 3.5% FHA down payment is $18,600. Budget an additional $3,300 for closing costs.