Total monthly cost of ownership
Cost to Own a Home in Cottage Lake, Washington
A $1,164,000 home here costs
$8,530per 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 $365,500 a year.
A standard mortgage calculator would have told you $6,346. The real number is $2,184 higher every month, 34% more than the payment most buyers budget for.
Compare King 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.
Cottage Lake against King County and Washington
| Measure | Cottage Lake | King County |
|---|---|---|
| Median home value | $1,164,000 | $811,200 |
| Median property tax | $10,001 | $6,785 |
| Effective tax rate | 0.859% | 0.836% |
| Median gross rent | $2,374 | $2,035 |
| Population | 23,170 | 2,262,713 |
The weather behind that power bill
Cottage Lake sits in King County, which averages a high of 76.7°F in its hottest month and a low of 35.3°F in its coldest, with 63.28" of precipitation a year and 42% of it in a single three-month stretch. That climate drives 151 cooling and 4,991 heating degree days, which is what sets the $140 electricity line above.
See the full climate breakdown for King County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in King County
Full King County cost breakdown · Every county in Washington
Talk to someone who works this market
These are Cottage Lake 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 Cottage Lake every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Cottage Lake I already own here and may sell
Common questions
How much does it cost to own a home in Cottage Lake?
A $1,164,000 home in Cottage Lake, Washington costs approximately $8,530 per month with 20% down at 7.24%. That is $6,346 principal and interest, $833 property tax, $173 homeowners insurance, $208 utilities and $970 set aside for maintenance.
What is the property tax rate in Cottage Lake?
Cottage Lake has an effective property tax rate of 0.859%, based on a median home value of $1,164,000 and median real estate taxes of $10,001. That is higher than the King County average of 0.836%.
What is the average home price in Cottage Lake?
The median owner-occupied home value in Cottage Lake, Washington is $1,164,000, against $811,200 across King County.
Is it cheaper to rent or buy in Cottage Lake?
Median gross rent in Cottage Lake is $2,374 a month, against $8,530 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 Cottage Lake?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Cottage Lake, Washington at today's rate takes a household income of roughly $365,500 a year. That covers the full $8,530 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Cottage Lake, 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.