Rent vs buy in Seattle, WA

In Seattle, Washington, the typical rent runs $2,227 /mo and the typical home $822,572.

Rent

Over 7 years, renting takes the lead by $128k.

Using Seattle's typical rent and home value, plus 20% down and today's mortgage rate. You break even in year 21.

An opinion, clearly labeled, with the math shown. The figures are estimates, not quotes. Adjusting any figure updates the stamp.

Renting leads by: $128k
Break-even point: In year 21
Actual cost of owning: $6,956 each month

Change my numbers

Seattle's typical rent and home value determine what the stamp shows. Your rent, price and years can change the result.

Do your numbers differ from the city's?

Provide a rent, price, and down payment of your own. Those figures update the stamp.

Is it cheaper to rent or buy in Seattle?

Over 7 years renting costs less by $127,623, once you count the money you get back when you sell. For the first 20 years, renting costs less. Year 21 is when owning catches up.

Renting. Owning. By year, the net cost so far.

Seattle: average rent compared with mortgage payment

Rent and mortgage payments don't cover everything. Here's every monthly expense from year 1 at Seattle's typical price.

Each month, year 1	Amount	What it is
Rent	$2,227	All of it, every month
Mortgage payment	$4,485	$3,953 of it is interest in year 1
Property tax	$535	0.78% of the value a year
Insurance	$103	Census median for the city
Upkeep	$685	1% of the value a year
Owning, cash out	$5,808	$532 of it builds equity
Lost return on the down payment	$1,337	What the cash would earn each year at 8.3%
Buying costs, spread out	$343	3.5% of the price over 7 years
True cost of owning	$6,956	Take cash out, subtract the equity portion, and add both amounts listed above.

Seattle verdict: the numbers used

Home value, typicalZillow ZHVI, September 2026: $822,572
Rent, typicalZillow ZORI, September 2026: $2,227 each month
Down payment20% avoids private mortgage insurance; the engine does not model that insurance.: 20%
Mortgage rate usedFreddie Mac Primary Mortgage Market Survey (FRED MORTGAGE30US): 7.24%
Growth in home pricesFHFA house price index, Washington, 1995 to 2025: Each year: 5.3%
Rent growth: yearly growth in CPI rent of primary residence, 2006 to 2026: Each year: 3.5%
Return on savings: 60% S&P 500, dividends included, plus 40% 10-year Treasuries, rebalanced each year from 1928 to 2025: Annual return: 8.3%
Tax on the propertyCensus ACS 2020-2024, Seattle: The rate is 0.78% of value
Home insurance data: Census ACS 2020-2024, Seattle: The monthly cost is $103
Maintenance: Fannie Mae, lower figure in the 1% to 4% range: Each year, 1% of value
Buying costs: Freddie Mac, 2% to 5% midpoint: 3.5% applied to the purchase price
Selling costsAgent commission and closing costs: 6% of the price

What would reverse the result in Seattle?

Each listed figure marks where Seattle's 7-year verdict reverses, while every other input stays the same

When renting wins

Home prices rise by less than 7.0% a year; the calculation uses 5.3%, the long-run rate for Washington's housing.
The mortgage rate remains above 4.46%.
Monthly rent for a similar home falls below $3,590; the local typical figure is $2,227
Your move happens before you reach year 21

When buying wins

Home prices grow at more than 7.0% a year.
You lock in a mortgage rate below 4.46%, with today's rate at 7.24%.
The same home would cost over $3,590 monthly if you rent it
You stay for 21 years or longer.

Seattle compared with the other 812 cities

Measure	Seattle	Median city
Typical home value	$822,572	$422,451
Typical rent	$2,227 /mo	$1,837 /mo
Price-to-rent ratio	30.8 (#61 of 813)	18.5
Home prices, last 10 years	3.7% a year	6.2% a year
Rents, last 5 years	2.3% a year	4% a year
Property tax	0.78%	0.87%
Households that rent	56%	42%

Data from Zillow ZHVI and ZORI, Census ACS 2020-2024

A look at other Washington cities

Rent wins by $39k in Vancouver, WA

Washington's rent vs buy numbers