Total monthly cost of ownership
Cost to Own a Home in Elma, Washington
A $379,000 home here costs
$2,742per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,948. The real number is $794 higher every month — 41% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Elma against Grays Harbor County and Washington
| Measure | Elma | Grays Harbor County |
|---|---|---|
| Median home value | $379,200 | $279,500 |
| Median property tax | $2,633 | $2,441 |
| Effective tax rate | 0.694% | 0.873% |
| Median gross rent | $987 | $1,018 |
| Population | 3,452 | 76,397 |
The weather behind that power bill
Elma sits in Grays Harbor County, which averages a high of 68.1°F in its hottest month and a low of 37.3°F in its coldest, with 68.76" of precipitation a year and 47% of it in a single three-month stretch. That climate drives 26 cooling and 5,114 heating degree days, which is what sets the $134 electricity line above.
See the full climate breakdown for Grays Harbor County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Grays Harbor County
Full Grays Harbor County cost breakdown · Every county in Washington
Common questions
How much does it cost to own a home in Elma?
A $379,000 home in Elma, Washington costs approximately $2,742 per month with 20% down at 6.66%. That is $1,948 principal and interest, $219 property tax, $56 homeowners insurance, $202 utilities and $316 set aside for maintenance.
What is the property tax rate in Elma?
Elma has an effective property tax rate of 0.694%, based on a median home value of $379,200 and median real estate taxes of $2,633. That is lower than the Grays Harbor County average of 0.873%.
What is the average home price in Elma?
The median owner-occupied home value in Elma, Washington is $379,200, against $279,500 across Grays Harbor County.
Is it cheaper to rent or buy in Elma?
Median gross rent in Elma is $987 a month, against $2,742 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Elma — 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.