Total monthly cost of ownership
Cost to Own a Home in Olympia, Washington
A $458,000 home here costs
$3,358per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $2,355. The real number is $1,004 higher every month — 43% 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.
Olympia against Thurston County and Washington
| Measure | Olympia | Thurston County |
|---|---|---|
| Median home value | $457,900 | $451,500 |
| Median property tax | $4,221 | $4,043 |
| Effective tax rate | 0.922% | 0.895% |
| Median gross rent | $1,509 | $1,634 |
| Population | 55,583 | 296,640 |
The weather behind that power bill
Olympia sits in Thurston County, which averages a high of 78.0°F in its hottest month and a low of 32.3°F in its coldest, with 50.62" of precipitation a year and 47% of it in a single three-month stretch. That climate drives 113 cooling and 5,378 heating degree days, which is what sets the $134 electricity line above.
See the full climate breakdown for Thurston County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Thurston County
Full Thurston County cost breakdown · Every county in Washington
Common questions
How much does it cost to own a home in Olympia?
A $458,000 home in Olympia, Washington costs approximately $3,358 per month with 20% down at 6.66%. That is $2,355 principal and interest, $352 property tax, $68 homeowners insurance, $202 utilities and $382 set aside for maintenance.
What is the property tax rate in Olympia?
Olympia has an effective property tax rate of 0.922%, based on a median home value of $457,900 and median real estate taxes of $4,221. That is higher than the Thurston County average of 0.895%.
What is the average home price in Olympia?
The median owner-occupied home value in Olympia, Washington is $457,900, against $451,500 across Thurston County.
Is it cheaper to rent or buy in Olympia?
Median gross rent in Olympia is $1,509 a month, against $3,358 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 Olympia — 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.