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Cost of Living in Washington

Is it better to rent or buy in Washington? Explore median costs, utility estimates, and run the numbers on your own budget to see how far your income goes.

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Rent vs. Buy Affordability Calculator

Adjust the sliders to match your scenario. We recommend keeping total housing costs under 40% of your gross income.

$107,380
$1,838/mo

Median in area: $1,838

$624,593

Median in area: $624,593

$124,919

If you Rent

🔑
$1,986 /mo
Base Rent$1,838
Est. Utilities$148
% of Income22.2%
Pre-tax Residual$6,962

If you Buy

🏠
$3,829 /mo
P&I (6.6%)$3,191
Taxes & Ins$490
Est. Utilities$148
% of Income42.8%
Pre-tax Residual$5,119

Cost of Living FAQs

Is it cheaper to rent or buy in Washington?›

Based on median housing data, renting is currently more affordable on a monthly basis in Washington. The estimated all-in monthly cost for renting is $1,986, while owning a median-priced home with a 20% down payment is roughly $3,829 per month (a difference of $1,843).

How much do utilities cost in Washington?›

The average monthly utility cost (electricity and natural gas) for a typical home in Washington is approximately $148. This estimate uses local utility rate schedules combined with median energy consumption profiles.

What is a good salary to live comfortably in Washington?›

To comfortably afford the median rent and utilities in Washington without exceeding the recommended 30% housing-to-income threshold, a household should earn a gross salary of approximately $79,440 per year.