Estimate your monthly mortgage payment in Washington — principal & interest plus Washington property tax and homeowner’s insurance.
Buying a home in Washington: what to know
Washington pairs a $591,879 statewide typical home value (Zillow ZHVI, Aug 2026, down ~2% YoY) with no state income tax — though the 0.75% median effective property tax rate (Tax Foundation, 2026) and high sales taxes fill the gap. With a median home price of $591,879, 20% down means borrowing about $473,503 — within the 2026 conforming limit of $832,750 for most Washington counties ($1,063,750 in King, Snohomish, and Pierce). Property taxes run about 0.75% of assessed value, and insurance averages $1,151 a year statewide — both baked into the calculator above. Buyers should check out WSHFC’s Home Advantage Down Payment Assistance (up to 5%, no first-time-buyer requirement) and the House Key Opportunity program before shopping lenders.
Washington mortgage facts
| Fact | Figure |
|---|---|
| 2026 conforming loan limit (1-unit) | $832,750 ($1,063,750 in King, Snohomish, and Pierce counties) |
| Median home price | $591,879 |
| Median effective property tax rate | 0.75% |
| Average homeowner’s insurance | $1,151/year |
Data as of October 2026. Sources: FHFA (2026 conforming limits), Zillow ZHVI (Aug 2026), Tax Foundation (2026 (2024 ACS data)), NAIC via Insurance Information Institute (2022 (published May 2025)); rate: 7.40% (Freddie Mac PMMS, week ending October 15, 2026)
Washington first-time buyer programs
- WSHFC Home Advantage Down Payment Assistance — Up to 4–5% of the loan amount as a deferred 0%-interest second mortgage with no monthly payments, paired with a 30-year fixed first mortgage; first-time-buyer status NOT required. Official site
- WSHFC House Key Opportunity Program — Below-market-rate first mortgage for first-time buyers, stackable with House Key Opportunity DPA (up to $15,000 at 1%). Official site
How to use this calculator
Start with Washington’s median home price (pre-filled above) or type the price of a home you’re eyeing. The calculator assumes 20% down — the threshold that avoids private mortgage insurance on conventional loans — and applies Washington’s median property tax rate and average insurance premium so the monthly figure reflects the true cost of owning, not just principal and interest. Seattle-metro buyers: the pre-filled statewide median understates King County prices significantly, so enter your target price directly. Adjust the rate to a quote you’ve received; even half a point moves the payment by hundreds on a Washington-priced home.
Worked example: a median Washington home
Take a median-priced Washington home at $591,879. With 20% down ($118,375.80), the loan amount is $473,503.20. At 7.40% (Freddie Mac PMMS, week ending October 15, 2026) on a 30-year fixed term, principal and interest come to $3,278.44/month. Add property tax of about $369.92/month (0.75% of $591,879, divided by 12) and insurance of about $95.92/month ($1,151 a year), for a total estimated payment of $3,744.28/month. Over 30 years, total interest would be about $706,735.38. Your rate, down payment, and county tax bill will move these numbers — use the calculator above with your own figures.
What is the conforming loan limit in Washington for 2026?
The 2026 baseline conforming loan limit for a one-unit property is $832,750 across most of Washington, per the FHFA’s November 2025 announcement. In King, Snohomish, and Pierce counties (Seattle-Tacoma-Bellevue metro), the 2026 limit is $1,063,750.
How much are property taxes in Washington?
The median effective property tax rate in Washington is about 0.75% of a home’s assessed value (Tax Foundation, 2026 (2024 ACS data)). On a $591,879 home, that’s roughly $4,439 a year, or $369.92 a month — already included in the calculator above. Actual bills vary by county and municipality.
Does Washington really have no state income tax?
Correct — Washington is one of nine states with no state income tax on wages. Revenue comes instead from high sales taxes and property taxes (plus a 7% capital gains tax). Buyers relocating from income-tax states should compare total tax burden, not just the 0.75% property tax rate.
Do I need to be a first-time buyer for WSHFC down payment assistance?
No — the Home Advantage Down Payment Assistance (up to 4–5% of the loan amount as a deferred 0%-interest second with no monthly payments) does not require first-time-buyer status. The House Key Opportunity first mortgage is the one aimed at first-time buyers, and the two can be stacked.
Is the Seattle market cooling?
The statewide typical value of $591,879 (Zillow ZHVI, Aug 2026) was down about 2% year over year, suggesting Seattle-area buyers have more negotiating room than in recent years — though King County prices remain far above the state median.