Quick answer
The median home in Seattle costs $780K. With 20% down ($156K) at 7% for 30 years, the monthly payment is $4,151/month. Total interest paid over 30 years: $870,536.
Calculator · WA · 2026
Mortgage Calculator for Seattle, WA (2026)
Pre-filled with Seattle's median home price of $780K. Compare payments across down payment sizes and loan terms at the current 7.0% baseline rate.
Last updated: April 23, 2026
Seattle Mortgage Payment Scenarios
Median home price: $780K · Interest rate: 7% · Excludes property taxes and insurance.
| Down Payment | Down ($) | Loan Amount | 30-yr/mo | 15-yr/mo | Total Interest (30yr) |
|---|---|---|---|---|---|
| 5% | $39,000 | $741,000 | $4,930 | $6,660 | $1,033,761 |
| 10% | $78,000 | $702,000 | $4,670 | $6,310 | $979,352 |
| 20% | $156,000 | $624,000 | $4,151 | $5,609 | $870,536 |
PMI required for <20% down — add ~$100–300/month to payments above.
Rent vs Buy in Seattle
Monthly cost comparison based on median prices — 20% down, 30-year mortgage at 7%.
Buying (median home)
+ builds equity in $780K asset
Renting (2-bedroom)
Flexibility to move; no equity built
Amortization Over Time
$780K home · 20% down ($624K loan) · 7% · 30 years
Year 1
Year 15
Year 30 (Final)
Frequently Asked Questions
What is the monthly mortgage payment for a home in Seattle?
The median home price in Seattle is $780K. With 20% down and a 30-year loan at 7%, the monthly payment is $4,151. Adding estimated property taxes and insurance brings total monthly costs to approximately $4,931.
Is it cheaper to rent or buy in Seattle?
A 2-bedroom rental in Seattle averages $2,750/month. Buying the median $780K home with 20% down costs approximately $4,931/month (mortgage + taxes + insurance) — $2,181 more than renting. However, buying builds equity while renting does not.
How much do I need to earn to buy a home in Seattle?
Using the 28% housing rule, you need at least $178K–211K in annual gross income to comfortably afford the median $780K home in Seattle with 20% down. You also need $156K+ saved for the down payment plus 2–5% in closing costs.
What are property taxes like in Seattle?
WA has a state income tax rate of None. Property taxes vary by county but on a $780K home, expect $650–$1,300/month in property taxes (1–2% annual rate). This is in addition to your mortgage payment.