Quick answer
At current rates, renting wins over the full 30-year horizon in Seattle. Monthly ownership cost $5,455 (vs $$2,750/mo rent) plus WA's 0.98% property tax make the math tough.
Rent vs Buy · WA
Rent vs Buy in Seattle (2026)
Real math using WA's 0.98% property tax rate, $1,200/year average insurance, and a 6.8% 30-year fixed mortgage. Accounts for opportunity cost — what the down payment would earn invested at 7%.
Last updated: April 23, 2026
Verdict at current rates
Renting wins (30-year horizon)
In Seattle at WA's tax rates and current 6.8% mortgages, keeping the down payment invested at 7% beats homeownership even after 30 years. The standard advice "buy to build equity" doesn't apply here at today's price-to-rent ratio.
Monthly Cost Breakdown
Buying
$5,455/mo
Mortgage P&I
$624,000 loan, 30yr @ 6.8%
$4,068
Property tax
0.98% of assessed (WA avg)
$637
Homeowners insurance
$1,200/yr WA avg
$100
Maintenance
1%/yr of home value
$650
Cash at close: ~$175,500 ($20% down + fees)
Renting
$2,750/mo
2BR rent (median)
Seattle market rate
$2,750
Renters insurance
~$15/mo typical
$15
Down payment invested
$156,000 growing at 7%/yr
(opportunity cost)
Monthly gap: $2,705 cheaper than buying. Renter invests that difference.
Year-by-Year Net Position
"Buy wins by" = what you'd clear selling the home minus what the renter has in investments. Positive = buy ahead.
| Year | Home value | Buyer equity (net) | Renter portfolio (net) | Buy wins by |
|---|---|---|---|---|
| Year 5 | $904,234 | $-225,683 | +$224,849 | $-450,532 |
| Year 10 | $1,048,255 | $-330,453 | +$348,193 | $-678,646 |
| Year 15 | $1,215,215 | $-387,046 | +$552,232 | $-939,278 |
| Year 30 | $1,893,265 | $-47,661 | +$2,108,592 | $-2,156,253 |
Assumptions
Every rent-vs-buy calculator depends on the assumptions. Here are ours — all transparent, none cherry-picked to bias the answer.
This is a rule-of-thumb calculator. Real decisions involve your specific tax bracket, any HOA, mortgage points, closing-cost negotiations, and exact loan terms.
Frequently Asked Questions
Is it better to rent or buy in Seattle?
In Seattle at current mortgage rates (6.8%), renting and investing the down payment beats buying for the full 30-year horizon. Median monthly ownership costs ($5,455) well exceed median 2BR rent ($2,750), and WA's 0.98% property tax makes the math especially tough.
What's the monthly cost of owning a home in Seattle?
On a median $780K home with 20% down at 6.8% fixed rate: mortgage P&I $4,068, property tax $637 (0.98% of assessed value), homeowners insurance $100 (WA average $1,200/year), and maintenance $650 (1% of home value/year). Total: $5,455/month.
How much down payment do I need to buy in Seattle?
20% down on a median Seattle home ($780K) is $156,000. Plus closing costs of roughly 2.5% ($19,500). Total cash-to-close: about $175,500. FHA loans allow 3.5% down ($27,300) but require mortgage insurance that adds ~$304/month.
What's the 10-year cost of renting vs buying in Seattle?
Over 10 years in Seattle: renters pay $378,308 in cumulative rent but have $726,501 invested (assuming 7% return on the $156,000 down payment + monthly savings). Buyers have paid $782,890 in total ownership costs and hold $515,332 in home equity. Net: renting is ahead by $678,646 at year 10.