Home Affordability in Vancouver, WA
The median home price in Vancouver is $430,000 with a median household income of $62,517. Housing is significantly stretched relative to local incomes.
Median Home Price
$430,000
Median Income
$62,517
Price-to-Income Ratio
6.9x
Est. Affordable Home
$243,000
Property Tax Rate
0.89%
Annual Property Tax
$3,827
Sales Tax Rate
8.50%
Cost of Living Index
110
Buying a Home in Vancouver
Based on the 28% rule (spending no more than 28% of gross income on housing), a household earning the median income of $62,517 in Vancouver can afford a monthly housing payment of approximately $1,459. This translates to a home price of roughly $243,000, which is below the median home price of $430,000 — many households may need a higher income, larger down payment, or should consider more affordable neighborhoods.
Property taxes on a median-priced home in Vancouver would be approximately $3,827 per year ($319/month) at the effective rate of 0.89%.
Down Payment Scenarios
| Down Payment | Amount | Loan Amount | PMI Required |
|---|---|---|---|
| 3% | $12,900 | $417,100 | Yes |
| 5% | $21,500 | $408,500 | Yes |
| 10% | $43,000 | $387,000 | Yes |
| 20% | $86,000 | $344,000 | No |
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