Mortgage on a $550K house in Washington
$3,607 a month with 20% down — $2,960 principal and interest plus $372 property tax and $275 insurance.
Washington's typical property tax is 0.81% of the home's value a year (U.S. average 0.9%), which adds $372 a month on a $550K home. The typical home in Washington is worth $587,533, so $550K is 6% below the typical price.
$550K home in Washington: payment by down payment
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $110,000 | $440,000 | $2,960 | $0 | $647 | $3,607 | $154,600 |
| 10% down | $55,000 | $495,000 | $3,330 | $206 | $647 | $4,183 | $179,300 |
| 5% down | $27,500 | $522,500 | $3,515 | $218 | $647 | $4,379 | $187,700 |
| 3.5% down (FHA) | $19,250 | $540,038 | $3,633 | $243 | $647 | $4,523 | $193,800 |
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 $550K buy a typical home?
In these counties the typical home value is within 15% of $550K:
| County | Typical home | Tax rate | Total / month |
|---|---|---|---|
| Clark County | $541,704 | 0.82% | $3,611 |
| Pierce County | $559,277 | 0.91% | $3,650 |
| Skamania County | $559,410 | 0.67% | $3,541 |
| Chelan County | $531,212 | 0.71% | $3,563 |
| Skagit County | $576,374 | 0.79% | $3,597 |
| Thurston County | $521,378 | 0.88% | $3,637 |
| Kitsap County | $579,133 | 0.77% | $3,588 |
| Jefferson County | $593,704 | 0.71% | $3,562 |
| Kittitas County | $494,987 | 0.71% | $3,562 |
| Douglas County | $494,746 | 0.77% | $3,587 |
| Whatcom County | $607,644 | 0.7% | $3,555 |
| Clallam County | $488,467 | 0.72% | $3,566 |
29 of 39 Washington counties tracked by Zillow have a typical home value at or below $550K. See all Washington home prices.
Other prices in Washington
Frequently asked questions
What is the mortgage on a $550K house in Washington?
About $3,607 a month with 20% down at 7.11%: $2,960 principal and interest, $372 property tax and $275 insurance.
How much do I need to make to buy a $550K house in Washington?
About $154,600 a year, so that the payment stays under 28% of your gross income.
What is the property tax on a $550K house in Washington?
At Washington's typical effective rate of 0.81%, about $4,460 a year. Rates vary by county and city — see the county pages.