Seattle vs Denver: Mortgage Cost Comparison
Thinking about buying in Seattle or Denver? Here's a side-by-side comparison of mortgage costs in both cities.
$4,774
Seattle PITI
$3,316
Denver PITI
$1,458/mo
Difference
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? Monthly payment PITI with taxes & insurance included
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? Bi-weekly payment PITI if paid every other week
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Seattle vs Denver: Full Mortgage Comparison
Buying a home in Denver is $1,458/month cheaper based on average home prices and local costs.
| Seattle, WA | Denver, CO | |
|---|---|---|
| Avg. Home Price | $800,000 | $560,000 |
| Down Payment (20%) | $160,000 | $112,000 |
| Loan Amount | $640,000 | $448,000 |
| Property Tax Rate | 0.88% | 0.52% |
| Annual Property Tax | $7,040 | $2,912 |
| Annual Insurance | $1,700 | $2,900 |
| Monthly P&I | $4,045 | $2,832 |
| Monthly PITI | $4,774 | $3,316 |
| Total Interest (30yr) | $816,285 | $571,399 |
What Drives the Difference?
Home prices are the biggest factor — Seattle’s average home costs $240,000 more than Denver’s.
Property taxes also favor Denver — Seattle’s 0.88% rate is higher than Denver’s 0.52%.
Insurance is $1,200/year more in Denver.
Income Needed to Buy
Using the 28% rule (PITI under 28% of gross income):
| Seattle | Denver | |
|---|---|---|
| Monthly PITI | $4,774 | $3,316 |
| Income needed | $204,582 | $142,114 |
Try Your Own Numbers
The calculator above is pre-filled with Seattle’s averages. Adjust the values to match your situation, or try the Denver calculator for Denver-specific numbers.