Total monthly cost of ownership
Cost to Own a Home in Ferndale, Washington
A $492,000 home here costs
$3,638per 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 $156,000 a year.
A standard mortgage calculator would have told you $2,682. The real number is $956 higher every month, 36% more than the payment most buyers budget for.
Compare Whatcom 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.
Ferndale against Whatcom County and Washington
| Measure | Ferndale | Whatcom County |
|---|---|---|
| Median home value | $492,400 | $536,100 |
| Median property tax | $3,179 | $3,819 |
| Effective tax rate | 0.646% | 0.712% |
| Median gross rent | $1,461 | $1,465 |
| Population | 15,447 | 228,432 |
The weather behind that power bill
Ferndale sits in Whatcom County, which averages a high of 77.8°F in its hottest month and a low of 32.1°F in its coldest, with 83" of precipitation a year and 46% of it in a single three-month stretch. That climate drives 126 cooling and 5,664 heating degree days, which is what sets the $140 electricity line above.
See the full climate breakdown for Whatcom County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Whatcom County
Full Whatcom County cost breakdown · Every county in Washington
Talk to someone who works this market
These are Ferndale 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 Ferndale every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Ferndale I already own here and may sell
Common questions
How much does it cost to own a home in Ferndale?
A $492,000 home in Ferndale, Washington costs approximately $3,638 per month with 20% down at 7.24%. That is $2,682 principal and interest, $265 property tax, $73 homeowners insurance, $208 utilities and $410 set aside for maintenance.
What is the property tax rate in Ferndale?
Ferndale has an effective property tax rate of 0.646%, based on a median home value of $492,400 and median real estate taxes of $3,179. That is lower than the Whatcom County average of 0.712%.
What is the average home price in Ferndale?
The median owner-occupied home value in Ferndale, Washington is $492,400, against $536,100 across Whatcom County.
Is it cheaper to rent or buy in Ferndale?
Median gross rent in Ferndale is $1,461 a month, against $3,638 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 Ferndale?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Ferndale, Washington at today's rate takes a household income of roughly $156,000 a year. That covers the full $3,638 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Ferndale, 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.