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Washington Residents Are Spending Way Too Much on Housing

In most major Washington cities, homeowners are going way past the recommended percentage of income spent on housing costs

As the informal rule goes, you shouldn't spend more than 28 percent of your gross income on your housing costs (mortgage, property taxes, etc.). That's easier said than done, especially in this housing market. Estately dug into the the U.S. Census’ Quick Facts and found out that, on average, homeowners in certain Washington cities are going well past that recommended percentage point.

Bellingham homeowners are spending the highest percentage of income on their homes at 45.83 percent. No other city crossed the 45 percent mark but fourteen other cities were still averaging higher than 35 percent of income, including Burien, Everett, Seattle, Tacoma, and Renton.

Washington cities that are following the guidelines look to be Redmond, Pasco, Richland, and Sammamish. Of course, Sammamish also has a median household income of $143,861, the highest of the 25 cities listed, which makes it a whole lot easier to do.
· What do Residents in Washington’s 25 Largest Cities Spend on Housing? [Estately]