Mortgage on a $500K house in Washington
$3,279 a month with 20% down — $2,691 principal and interest plus $338 property tax and $250 insurance.
Washington's typical property tax is 0.81% of the home's value a year (U.S. average 0.9%), which adds $338 a month on a $500K home. The typical home in Washington is worth $587,533, so $500K is 15% below the typical price.
$500K home in Washington: payment by down payment
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $100,000 | $400,000 | $2,691 | $0 | $588 | $3,279 | $140,500 |
| 10% down | $50,000 | $450,000 | $3,027 | $188 | $588 | $3,803 | $163,000 |
| 5% down | $25,000 | $475,000 | $3,195 | $198 | $588 | $3,981 | $170,600 |
| 3.5% down (FHA) | $17,500 | $490,944 | $3,303 | $221 | $588 | $4,112 | $176,200 |
Assumes a 30-year fixed loan at 7.11%, property tax of 0.81% of the home value a year, homeowners insurance of 0.6% a year, PMI of 0.5% of the loan a year when the down payment is under 20%, and FHA mortgage insurance of 0.55% a year plus a 1.75% upfront premium added to the loan. Your rate, taxes and insurance will differ.
Where in Washington does $500K buy a typical home?
In these counties the typical home value is within 15% of $500K:
| County | Typical home | Tax rate | Total / month |
|---|---|---|---|
| Kittitas County | $494,987 | 0.71% | $3,238 |
| Douglas County | $494,746 | 0.77% | $3,261 |
| Clallam County | $488,467 | 0.72% | $3,242 |
| Thurston County | $521,378 | 0.88% | $3,306 |
| Klickitat County | $469,127 | 0.62% | $3,199 |
| Chelan County | $531,212 | 0.71% | $3,239 |
| Clark County | $541,704 | 0.82% | $3,283 |
| Mason County | $447,199 | 0.73% | $3,245 |
| Benton County | $446,007 | 0.78% | $3,264 |
| Pierce County | $559,277 | 0.91% | $3,318 |
| Skamania County | $559,410 | 0.67% | $3,219 |
| Lewis County | $428,499 | 0.67% | $3,220 |
26 of 39 Washington counties tracked by Zillow have a typical home value at or below $500K. See all Washington home prices.
Other prices in Washington
Frequently asked questions
What is the mortgage on a $500K house in Washington?
About $3,279 a month with 20% down at 7.11%: $2,691 principal and interest, $338 property tax and $250 insurance.
How much do I need to make to buy a $500K house in Washington?
About $140,500 a year, so that the payment stays under 28% of your gross income.
What is the property tax on a $500K house in Washington?
At Washington's typical effective rate of 0.81%, about $4,055 a year. Rates vary by county and city — see the county pages.