States › Washington › Terrace Heights

Is Terrace Heights, WA expensive to live in?

OKRent takes 24 cents of every $1 people earn here.
🏠 Rent per month (2026)$1,7942% higher than U.S. average
💵 Families earn per year (2026)$89,533about $7,461/month · 3% higher than U.S. average
🔑 House price$377,30013% higher than U.S. average

Rent is higher than in 57% of U.S. cities. A typical house costs about 4.2 years of household income. Commutes are short, about 19.2 minutes.

How much money do I need?

To rent here comfortably, you should earn about $71,760 a year. That is $35 an hour at a full-time job.

Is rent cheaper than other Washington cities?

Yes. Rent here is cheaper than in most of Washington. It is number 51 of 192 cities from cheapest to most expensive.

Terrace Heights
$1,794
Burlington
$2,165
Vashon
$1,771
DuPont
$2,937
College Place
$1,712
Snohomish
$2,235
Picnic Point
$2,050

How much do households earn in Terrace Heights?

Under $25k
12.5%
$25k–50k
14.4%
$50k–100k
40.7%
$100k–150k
15.8%
$150k+
10.4%

Share of households by yearly income. 26.2% of households earn $100,000 or more.

Rent by apartment size in Terrace Heights

SizeTerrace HeightsU.S. average
1 bedroom$1,109$1,324
2 bedrooms$1,358$1,509
3 bedrooms$2,198$1,698

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

How expensive is Terrace Heights 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 Terrace Heights, so the Washington figure is shown.

Taxes and bills in Terrace Heights

🏛️ Property tax$3,750a year · 0.99% of home value · U.S. $3,119
⚡ Electric bill$134a month (typical) · U.S. $156

Life in Terrace Heights

Commute to work19.2 minU.S.: 26.4 min
College degree28.2%U.S.: 35.7%
Own their home62.1%U.S.: 65.2%
Below poverty line14.4%U.S.: 12.5%
Unemployment0.5%U.S.: 5.2%

Is it cheaper to rent or buy in Terrace Heights?

Renting is cheaper right now: about $824 a month less.

Renting
$1,794
Owning
$2,618

Owning assumes a typical $377,300 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $37,730 for the down payment.

Frequently asked questions

What is the average rent in Terrace Heights, WA?

Renting in Terrace Heights costs a median of about $1,794 a month in 2026, including utilities. The Washington median is $2,025.

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

To keep rent under 30% of income, you need about $71,760 a year, or $35 an hour at a full-time job.

Is Terrace Heights cheap or expensive?

Terrace Heights is rated OK: rent takes 24.0% of the typical household income of $89,533. It ranks 51st cheapest of 192 Washington cities we track.

How much are property taxes in Terrace Heights?

The median homeowner in Terrace Heights pays $3,750 a year in property taxes, about 0.99% of the median home value.

Is Terrace Heights 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 Terrace Heights?

The median home value in Terrace Heights is $377,300, about 4.2 times the typical yearly household income.

10,041 people live in Terrace Heights. Numbers are typical (middle) values.