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Affordable
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These days, finding an affordable place to live in the Mountlake Terrace area can be challenging. Home prices in Mountlake Terrace are now at a median cost of $689,396, higher than the Washington average of $621,115.
The average cost of rent is $2,078/mo in Mountlake Terrace, primarily driven by the current value of real estate in the Mountlake Terrace area. In Mountlake Terrace, 43.77% of households rent, and 32.30% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Mountlake Terrace is $9,427 per month. Households that rent pay about 22.04% of their income on rent here. Mountlake Terrace’s most expensive areas are in the northwestern regions, while the cheapest areas are in the southern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Brier, WA: higher priced homes
- Lake Forest Park, WA: higher priced homes
- Edmonds, WA: higher priced homes
- Shoreline, WA: higher priced homes
- Lynnwood, WA: equally priced homes
- Bothell West, WA: higher priced homes
- Woodway, WA: higher priced homes
- Kenmore, WA: higher priced homes
- North Lynnwood, WA: less expensive homes
- Bothell, WA: higher priced homes
Cities with Similar Populations
- Somerville, NJ: less expensive homes
- Hercules, CA: higher priced homes
- Holly, MI: less expensive homes
- Hopkins, MN: less expensive homes
- Howard, WI: less expensive homes
- Hudson, MA: less expensive homes
- Ionia, MI: less expensive homes
- Iselin, NJ: less expensive homes
- San Jose, PR: less expensive homes
- Sharpsburg, GA: less expensive homes
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