How Much House Can You Afford in Washington?
Lenders typically use the 28/36 rule: your monthly housing payment should not exceed 28% of gross monthly income, and total debt payments should stay under 36%. With Washington's median income of $83,000/year ($6,917/month), that means a maximum housing payment of roughly $1,937/month.
At 6.77% over 30 years with a 12% down payment ($69,000), that monthly budget supports a purchase price of approximately $546,250–$575,000. The median home price in Washington is $575,000, which means housing is near the national average.