Should you buy or rent in Seattle, WA?
Compare the cost of buying vs renting in Seattle, WA with local median home prices and rents from Zillow. Adjust the calculator to match your situation.
The Seattle Housing Market
Seattle's housing market is shaped by the outsized influence of its tech sector. Employers like Amazon, Microsoft, and a growing wave of AI-focused companies drive demand from highly compensated professionals, pushing home prices well above national averages. Over the past 25 years, Seattle home values have surged roughly 240%, and even after a correction from the 2022 peak of ~$752,000, the median home price sits near $730,000 as of early 2026.
Rents reflect that same premium. At around $3,170 per month for a typical single-family rental, Seattle rents run 45% above the national average. Meanwhile, the median household income of $122,000 is 55% higher than the U.S. median, giving many residents more purchasing power—but not always enough to offset the region's steep housing costs.
$730k
Median Home Price
$3,169/mo
Median Rent
$75k
Median Household Income
~1%
Property Tax Rate
The market has cooled since 2022, when tech layoffs—including 25,000+ reductions at Amazon alone—reduced buyer competition. Inventory has normalized to 2.5–3 months of supply, and homes now spend 25–40 days on market compared to under 10 during the pandemic frenzy. That shift gives today's buyers more room to negotiate, but prices remain elevated by historical standards.
Property taxes in King County average about $10 per $1,000 of assessed value, roughly 1% annually. While that's in line with the national average rate, the high assessed values in Seattle mean the dollar amount can be substantial—around $7,300 per year on a median-priced home.
The calculator is pre-loaded with Seattle-area medians so you can explore how buying compares to renting and investing in this market. Adjust any input to match your own situation.
Median Home Value
Median Rent
Costs
Net Worth
Liquid Savings
Deciding whether to buy a home or rent and invest your savings is one of the biggest financial choices you'll ever face. With interest rates climbing, stock market growth offering potential rewards, and the allure of liquid cash for travel or retirement, the right decision isn’t always clear-cut. Owning a home can build equity and provide stability, but renting can free up resources for other investments. This guide will help you break down the costs, weigh the financial trade-offs, and determine which option aligns best with your goals and lifestyle.
Housing Costs
Renting typically costs less in the short term and increases relative to buying over time. However, this may be different in your case. The chart above uses the mortgage and rental costs you've provided to show how they compare over time.
Renting will be cheaper for about 13 years.
Net Worth
Your net worth is impacted by the rate of growth of your investments. For a renter, this will consist of savings and other investments. For a homeowner, this will also add any home equity built over time.
In 10 years, your net worth as a renter would be 0k compared to 0k as a homeowner. This is a 0k difference.
In 20 years, that difference becomes 0k
Liquid Savings
Buying a home can be a risk, due in part to the inflexibility of a mortgage and the non-liquid nature of home equity. How much cash will you have on hand for unexpected expenses or life changes? How would liquid investments grow compared to putting it toward housing?
Renting allows for more liquid assets, which can be used for time off or to buffer against unexpected expenses.