Total monthly cost of ownership
Cost to Own a Home in College Place, Washington
A $335,000 home here costs
$2,625per 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 $112,500 a year.
A standard mortgage calculator would have told you $1,826. The real number is $798 higher every month, 44% more than the payment most buyers budget for.
Compare Walla Walla 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.
College Place against Walla Walla County and Washington
| Measure | College Place | Walla Walla County |
|---|---|---|
| Median home value | $335,000 | $375,600 |
| Median property tax | $3,139 | $3,386 |
| Effective tax rate | 0.937% | 0.901% |
| Median gross rent | $1,118 | $1,113 |
| Population | 9,828 | 62,102 |
The weather behind that power bill
College Place sits in Walla Walla County, which averages a high of 90.1°F in its hottest month and a low of 30.2°F in its coldest, with 18.74" of precipitation a year and 35% of it in a single three-month stretch. That climate drives 936 cooling and 4,798 heating degree days, which is what sets the $140 electricity line above.
See the full climate breakdown for Walla Walla County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Walla Walla County
Full Walla Walla County cost breakdown · Every county in Washington
Talk to someone who works this market
These are College Place 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 College Place every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in College Place I already own here and may sell
Common questions
How much does it cost to own a home in College Place?
A $335,000 home in College Place, Washington costs approximately $2,625 per month with 20% down at 7.24%. That is $1,826 principal and interest, $262 property tax, $50 homeowners insurance, $208 utilities and $279 set aside for maintenance.
What is the property tax rate in College Place?
College Place has an effective property tax rate of 0.937%, based on a median home value of $335,000 and median real estate taxes of $3,139. That is higher than the Walla Walla County average of 0.901%.
What is the average home price in College Place?
The median owner-occupied home value in College Place, Washington is $335,000, against $375,600 across Walla Walla County.
Is it cheaper to rent or buy in College Place?
Median gross rent in College Place is $1,118 a month, against $2,625 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 College Place?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in College Place, Washington at today's rate takes a household income of roughly $112,500 a year. That covers the full $2,625 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for College Place, 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.