Calculate using real Seattle data. Median home price: $750,000. Property tax rate: 0.93%.
With the median household income of $110,781 in Seattle, WA, following the 28% rule, you could afford a monthly payment of about $2,585.
The cost of living index in Seattle, WA is 160 (national average = 100). A home at the median price of $750,000 would require roughly 6.8x the median income.
A conventional 20% down payment on the median Seattle, WA home ($750,000) would be $150,000. FHA loans may require as little as 3.5% ($26,250).