Rent vs Buy in Seattle, WA
Monthly cost of renting vs owning a median-priced home · 30-yr fixed, 20% down
Renting looks favorable in Seattle, WA
Price-to-rent ratio is 27.0 (under 15 favors buying, over 21 favors renting). Renting costs $2,671/mo; owning runs about $6,457/mo — $3,786/mo more to own.
| Monthly cost to own | Amount |
|---|---|
| Mortgage (P&I, 6.95% rate) | $4,582 |
| Property tax | $793 |
| Home insurance | $361 |
| Maintenance | $721 |
| Total to own | $6,457 |
| Average 2BR rent | $2,671 |
Based on a median home value of $865,273 with a $173,055 down payment. Owning also builds equity over time, which a monthly comparison doesn't capture. Estimates use national averages for taxes, insurance and maintenance — your actual costs will vary.