Total monthly cost of ownership
Cost to Own a Home in Bainbridge Island, Washington
A $1,076,000 home here costs
$7,830per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $335,500 a year.
A standard mortgage calculator would have told you $5,866. The real number is $1,963 higher every month, 33% more than the payment most buyers budget for.
Compare Kitsap County with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Bainbridge Island against Kitsap County and Washington
| Measure | Bainbridge Island | Kitsap County |
|---|---|---|
| Median home value | $1,076,200 | $505,700 |
| Median property tax | $8,398 | $4,030 |
| Effective tax rate | 0.780% | 0.797% |
| Median gross rent | $2,081 | $1,741 |
| Population | 24,607 | 276,581 |
The weather behind that power bill
Bainbridge Island sits in Kitsap County, which averages a high of 77.3°F in its hottest month and a low of 35.0°F in its coldest, with 56.93" of precipitation a year and 49% of it in a single three-month stretch. That climate drives 193 cooling and 4,825 heating degree days, which is what sets the $140 electricity line above.
See the full climate breakdown for Kitsap County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Kitsap County
Full Kitsap County cost breakdown · Every county in Washington
Talk to someone who works this market
These are Bainbridge Island averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Bainbridge Island every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Bainbridge Island I already own here and may sell
Common questions
How much does it cost to own a home in Bainbridge Island?
A $1,076,000 home in Bainbridge Island, Washington costs approximately $7,830 per month with 20% down at 7.24%. That is $5,866 principal and interest, $699 property tax, $160 homeowners insurance, $208 utilities and $897 set aside for maintenance.
What is the property tax rate in Bainbridge Island?
Bainbridge Island has an effective property tax rate of 0.780%, based on a median home value of $1,076,200 and median real estate taxes of $8,398. That is lower than the Kitsap County average of 0.797%.
What is the average home price in Bainbridge Island?
The median owner-occupied home value in Bainbridge Island, Washington is $1,076,200, against $505,700 across Kitsap County.
Is it cheaper to rent or buy in Bainbridge Island?
Median gross rent in Bainbridge Island is $2,081 a month, against $7,830 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Bainbridge Island?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Bainbridge Island, Washington at today's rate takes a household income of roughly $335,500 a year. That covers the full $7,830 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Bainbridge Island, US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance, NAIC average premium for Washington.
- Electricity price, EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate, Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.