Home Affordability in Bellevue, WA
The median home price in Bellevue is $1,300,000 with a median household income of $131,082. Housing is significantly stretched relative to local incomes.
Median Home Price
$1,300,000
Median Income
$131,082
Price-to-Income Ratio
9.9x
Est. Affordable Home
$510,000
Property Tax Rate
0.83%
Annual Property Tax
$10,790
Sales Tax Rate
10.25%
Cost of Living Index
170
Buying a Home in Bellevue
Based on the 28% rule (spending no more than 28% of gross income on housing), a household earning the median income of $131,082 in Bellevue can afford a monthly housing payment of approximately $3,059. This translates to a home price of roughly $510,000, which is below the median home price of $1,300,000 — many households may need a higher income, larger down payment, or should consider more affordable neighborhoods.
Property taxes on a median-priced home in Bellevue would be approximately $10,790 per year ($899/month) at the effective rate of 0.83%.
Down Payment Scenarios
| Down Payment | Amount | Loan Amount | PMI Required |
|---|---|---|---|
| 3% | $39,000 | $1,261,000 | Yes |
| 5% | $65,000 | $1,235,000 | Yes |
| 10% | $130,000 | $1,170,000 | Yes |
| 20% | $260,000 | $1,040,000 | No |
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