Total monthly cost of ownership
Cost to Own a Home in Rainier, Washington
A $389,000 home here costs
$2,975per 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 $127,500 a year.
A standard mortgage calculator would have told you $2,155. The real number is $821 higher every month, 38% more than the payment most buyers budget for.
Compare Thurston County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Rainier from a five-year rolling sample, and with about 2,499 residents that sample is small. The median home value here carries a much wider margin of error than a big-city figure does, so treat it as indicative rather than exact. The Thurston County figures are drawn from a far larger sample if you want a steadier number.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Rainier against Thurston County and Washington
| Measure | Rainier | Thurston County |
|---|---|---|
| Median home value | $388,900 | $451,500 |
| Median property tax | $2,761 | $4,043 |
| Effective tax rate | 0.710% | 0.895% |
| Median gross rent | $1,128 | $1,634 |
| Population | 2,499 | 296,640 |
The weather behind that power bill
Rainier 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 $140 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
Talk to someone who works this market
These are Rainier 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 Rainier every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Rainier I already own here and may sell
Common questions
How much does it cost to own a home in Rainier?
A $389,000 home in Rainier, Washington costs approximately $2,975 per month with 20% down at 7.4%. That is $2,155 principal and interest, $230 property tax, $58 homeowners insurance, $208 utilities and $324 set aside for maintenance.
What is the property tax rate in Rainier?
Rainier has an effective property tax rate of 0.710%, based on a median home value of $388,900 and median real estate taxes of $2,761. That is lower than the Thurston County average of 0.895%.
What is the average home price in Rainier?
The median owner-occupied home value in Rainier, Washington is $388,900, against $451,500 across Thurston County.
Is it cheaper to rent or buy in Rainier?
Median gross rent in Rainier is $1,128 a month, against $2,975 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 Rainier?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Rainier, Washington at today's rate takes a household income of roughly $127,500 a year. That covers the full $2,975 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Rainier, 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.