States › Washington › Mountlake Terrace

Is Mountlake Terrace, WA expensive to live in?

OKRent takes 25 cents of every $1 people earn here.
🏠 Rent per month (2026)$2,42038% higher than U.S. average
💵 Families earn per year (2026)$116,140about $9,678/month · 33% higher than U.S. average
🔑 House price$667,300101% higher than U.S. average

Rent is higher than in 83% of U.S. cities. A typical house costs about 5.7 years of household income.

How much money do I need?

To rent here comfortably, you should earn about $96,800 a year. That is $47 an hour at a full-time job.

Is rent cheaper than other Washington cities?

No. Rent here is more expensive than in most of Washington. It is number 144 of 192 cities from cheapest to most expensive.

Mountlake Terrace
$2,420
Union Hill-Novelty Hill
$3,133
Hazel Dell
$1,986
North Lynnwood
$2,745
Martha Lake
$2,111
Cottage Lake
$2,905
Eastmont
$2,276

How much do households earn in Mountlake Terrace?

Under $25k
4.1%
$25k–50k
13.4%
$50k–100k
38.3%
$100k–150k
23.6%
$150k+
17.1%

Share of households by yearly income. 40.7% of households earn $100,000 or more.

Rent by apartment size in Mountlake Terrace

SizeMountlake TerraceU.S. average
Studio$1,950$1,338
1 bedroom$1,900$1,324
2 bedrooms$2,255$1,509
3 bedrooms$2,591$1,698
4 bedrooms$3,408$2,098

Median monthly rent plus utilities for all renters, by number of bedrooms.

How expensive is Mountlake Terrace overall?

Everyday prices in Washington overall are 7% above the U.S. average (index 107.0, U.S. = 100).

Housing
126
Goods (food, clothes…)
104
Utilities
93
Other services
104
U.S. average
100

Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Mountlake Terrace, so the Washington figure is shown.

Taxes and bills in Mountlake Terrace

🏛️ Property tax$4,593a year · 0.69% of home value · U.S. $3,119
⚡ Electric bill$97a month (typical) · U.S. $156

Life in Mountlake Terrace

Commute to work27.9 minU.S.: 26.4 min
College degree43%U.S.: 35.7%
Own their home56.9%U.S.: 65.2%
Below poverty line7%U.S.: 12.5%
Unemployment4.2%U.S.: 5.2%

Is it cheaper to rent or buy in Mountlake Terrace?

Renting is cheaper right now: about $2,210 a month less.

Renting
$2,420
Owning
$4,630

Owning assumes a typical $667,300 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $66,730 for the down payment.

Frequently asked questions

What is the average rent in Mountlake Terrace, WA?

Renting in Mountlake Terrace costs a median of about $2,420 a month in 2026, including utilities. The Washington median is $2,025.

How much do I need to make to live in Mountlake Terrace?

To keep rent under 30% of income, you need about $96,800 a year, or $47 an hour at a full-time job.

Is Mountlake Terrace cheap or expensive?

Mountlake Terrace is rated OK: rent takes 25.0% of the typical household income of $116,140. It ranks 144th cheapest of 192 Washington cities we track.

How much are property taxes in Mountlake Terrace?

The median homeowner in Mountlake Terrace pays $4,593 a year in property taxes, about 0.69% of the median home value.

Is Mountlake Terrace more expensive than the national average?

Overall prices in Washington are 7% above the U.S. average, according to the U.S. Bureau of Economic Analysis.

How much does a house cost in Mountlake Terrace?

The median home value in Mountlake Terrace is $667,300, about 5.7 times the typical yearly household income.

23,104 people live in Mountlake Terrace. Numbers are typical (middle) values.