Side-by-side comparison of home prices, mortgage payments, and housing costs between Bellingham and Olympia, Washington. Using Washington's 0.98% property tax rate and $1,600/year insurance. Updated for 2026.
Olympia edges out Bellingham in affordability, saving you roughly $894/month on total housing costs. Both cities are in Washington, so property tax rates and insurance costs are the same — the difference comes down to home prices and what you get for your money in each market.
Estimated PITI payments assuming 10% down, 6.5% rate, 30-year fixed mortgage with PMI. Uses Washington's 0.98% property tax rate.
Buying in Olympia saves you approximately $894/month ($10,728/year) compared to Bellingham, based on median home prices with identical loan terms.
Olympia is the better choice for first-time buyers, with a median price of $445K versus $575K in Bellingham. That's $130K less to save for a down payment. You'd need roughly $16K for an FHA 3.5% down payment in Olympia, compared to $20K in Bellingham. Washington offers the WSHFC Home Advantage program (Up to $10,000 DPA) which applies in both cities.
Olympia has the better price-to-rent ratio at 24.4x versus 26.9x in Bellingham. A lower ratio generally signals better rental income relative to purchase price. Average rent in Olympia is $1,520/month on a $445K median home, making it a stronger candidate for buy-and-rent investors.
Bellingham (pop. 92,314) offers more amenities, schools, and services typical of a larger city, while Olympia (pop. 55,605) may offer a quieter, more community-oriented lifestyle. Families on a budget may prefer Olympia, where lower housing costs free up more income for childcare, education, and savings.