Buy vs Rent in Tacoma, WA (2026)
Median home price $500K · 1BR rent $1,900/mo · Price-to-rent ratio 21.9x.
Monthly cost of buying — 3 scenarios
30-year mortgage at 7% · Includes property tax, insurance, and maintenance estimates
| 3.5% down (FHA) | 10% down | 20% down (conventional) | |
|---|---|---|---|
| Down payment | $17,500 | $50,000 | $100,000 |
| Mortgage (P&I) | $3,210/mo | $2,994/mo | $2,661/mo |
| Property tax (est.) | $458/mo | $458/mo | $458/mo |
| Insurance (est.) | $208/mo | $208/mo | $208/mo |
| Maintenance (est.) | $417/mo | $417/mo | $417/mo |
| Total monthly cost | $4,293vs rent: +$2,393/mo | $4,077vs rent: +$2,177/mo | $3,744vs rent: +$1,844/mo |
| Income to qualify | $137,571/yr | $128,314/yr | $114,043/yr |
| Break-even (approx.) | ~1 yrs | ~2 yrs | ~5 yrs |
While renting, grow your down payment faster
High-yield savings accounts earning 4–5%+ APY — put your rent savings to work.
Tacoma housing context
Frequently asked questions
Is it better to buy or rent in Tacoma?
With a price-to-rent ratio of 21.9x, renting is often more cost-effective in Tacoma in the short term. Buying makes more sense if you plan to stay 7+ years and can make a larger down payment.
How much do I need to earn to buy a home in Tacoma?
With a median home price of $500K in Tacoma, you'd need an annual income of roughly $114,043 to qualify with 20% down (at 7% rate, 28% housing ratio). With 10% down, you'd need about $128,314/year.
Mortgage at 7% 30-yr fixed · Property tax 1.1% est. · Maintenance 1% est. · Zillow, BLS · Q1 2026 · For general guidance only