Compare Tacoma, WA mortgage rates and fees from top lenders. Review free, personalized mortgage rates based on your specifc loan amount, program and other factors. Easily compare APRs, closing costs and monthly payments to find the lowest mortgage rates in Tacoma.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Tacoma. Plus, shopping lenders is free and there is no obligation.
January 19, 2022
Below we provide helpful information on the real estate market, home prices and housing affordability in Tacoma. Understand how much you need to earn to afford a home in Tacoma, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Tacoma fits your budget. This information is based on proprietary analysis you can only find on FREEandCLEAR and we offer it to help you decide if living in Tacoma is right for you.
The median home value for Tacoma, WA (Pierce County) is $489,559
Based on current mortgage rates and a 10% down payment, you need to make $80,212 per year to buy the median priced home in Tacoma
With this income, you could qualify for a $440,603 mortgage, assuming your monthly debt expense is reasonable
Based on this loan amount, the monthly mortgage payment required to buy the median priced home in Tacoma is $1,858
The median household income for Tacoma, WA (Pierce County) is $85,652
Based on this income, you can afford a home valued at approximately $522,756
The home price you can afford to buy based on household income in Tacoma is 107% of the median home value which means housing prices are average. Tacoma (Pierce County) ranks 26 out of 39 counties in Washington and 2,981 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Tacoma, WA is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Tacoma (Pierce County) below.
Conforming loan limits for Tacoma, WA
FHA loan limits for Tacoma, WA
VA loan limits for Tacoma, WA