Seattle vs Portland: Mortgage Cost Comparison
Thinking about buying in Seattle or Portland? Here's a side-by-side comparison of mortgage costs in both cities.
$4,774
Seattle PITI
$3,062
Portland PITI
$1,712/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 Portland: Full Mortgage Comparison
Buying a home in Portland is $1,712/month cheaper based on average home prices and local costs.
| Seattle, WA | Portland, OR | |
|---|---|---|
| Avg. Home Price | $800,000 | $500,000 |
| Down Payment (20%) | $160,000 | $100,000 |
| Loan Amount | $640,000 | $400,000 |
| Property Tax Rate | 0.88% | 0.98% |
| Annual Property Tax | $7,040 | $4,900 |
| Annual Insurance | $1,700 | $1,500 |
| Monthly P&I | $4,045 | $2,528 |
| Monthly PITI | $4,774 | $3,062 |
| Total Interest (30yr) | $816,285 | $510,178 |
What Drives the Difference?
Home prices are the biggest factor — Seattle’s average home costs $300,000 more than Portland’s.
Property taxes also favor Seattle — Portland’s 0.98% rate is higher than Seattle’s 0.88%.
Insurance is $200/year more in Seattle.
Income Needed to Buy
Using the 28% rule (PITI under 28% of gross income):
| Seattle | Portland | |
|---|---|---|
| Monthly PITI | $4,774 | $3,062 |
| Income needed | $204,582 | $131,212 |
Try Your Own Numbers
The calculator above is pre-filled with Seattle’s averages. Adjust the values to match your situation, or try the Portland calculator for Portland-specific numbers.