Total monthly cost of ownership
Cost to Own a Home in Lake Stevens, Washington
A $594,000 home here costs
$4,485per month, all in, with 20% down at today's 7.40% 30-year fixed rate. By the 28% rule that takes a household income of about $192,000 a year.
A standard mortgage calculator would have told you $3,290. The real number is $1,195 higher every month, 36% more than the payment most buyers budget for.
Compare Snohomish 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.
Lake Stevens against Snohomish County and Washington
| Measure | Lake Stevens | Snohomish County |
|---|---|---|
| Median home value | $593,900 | $644,600 |
| Median property tax | $4,835 | $5,121 |
| Effective tax rate | 0.814% | 0.794% |
| Median gross rent | $2,189 | $1,866 |
| Population | 39,500 | 834,648 |
The weather behind that power bill
Lake Stevens sits in Snohomish County, which averages a high of 73.0°F in its hottest month and a low of 36.0°F in its coldest, with 33.37" of precipitation a year and 40% of it in a single three-month stretch. That climate drives 97 cooling and 5,039 heating degree days, which is what sets the $140 electricity line above.
See the full climate breakdown for Snohomish County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Snohomish County
Full Snohomish County cost breakdown · Every county in Washington
Talk to someone who works this market
These are Lake Stevens 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 Lake Stevens every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Lake Stevens I already own here and may sell
Common questions
How much does it cost to own a home in Lake Stevens?
A $594,000 home in Lake Stevens, Washington costs approximately $4,485 per month with 20% down at 7.4%. That is $3,290 principal and interest, $403 property tax, $88 homeowners insurance, $208 utilities and $495 set aside for maintenance.
What is the property tax rate in Lake Stevens?
Lake Stevens has an effective property tax rate of 0.814%, based on a median home value of $593,900 and median real estate taxes of $4,835. That is higher than the Snohomish County average of 0.794%.
What is the average home price in Lake Stevens?
The median owner-occupied home value in Lake Stevens, Washington is $593,900, against $644,600 across Snohomish County.
Is it cheaper to rent or buy in Lake Stevens?
Median gross rent in Lake Stevens is $2,189 a month, against $4,485 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 Lake Stevens?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Lake Stevens, Washington at today's rate takes a household income of roughly $192,000 a year. That covers the full $4,485 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Lake Stevens, 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.