When it comes to the median home price in Seattle, it depends who you ask. So let’s ask financial data publisher HSH.com, who says the median price after Q2 2016 is $420,500.
If that’s true, someone in Seattle would need to make at least $82,670.73/year in order to afford the principal, interest, taxes and insurance payments on that house.
Oh and that’s assuming you’re putting 20 percent down. If you wanted to only put 10 percent down, you better be making $97,118/year.
That salary puts Seattle at No. 6 on their list in terms of what you need to make in order to afford a median price home, trailing New York, Boston, LA, San Diego, and San Francisco. If it makes you feel any better, you have to make $161,947.60 to afford a home in San Fran, almost double the Seattle number.
Per HSH, they saw a 9.76 percent quarterly jump and 9.14 percent yearly jump in terms of Seattle median home price. They also saw the salary needed to afford that home go up by $5,141.72. If you purchased that median price home, your monthly payment would be around $1,928.98.
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