The typical owner-occupied home in Electric City is worth about $198,400, 65% below the Washington median of $564,600 and 40% below the national median of $332,700. Owners pay a median $1,725 a year in property taxes, about 0.87% of their home's value, higher than the Washington rate of 0.81%. The median household earns $80,221 a year, so the median home costs 2.5 times the median income (5.8 times for Washington). 78% of occupied homes here are lived in by their owners, and 48% of those owners still have a mortgage.
Electric City at a glance
| Electric City | Washington | U.S. | |
|---|---|---|---|
| Median home value | $198,400 | $564,600 | $332,700 |
| Median property tax paid per year | $1,725 | $4,556 | $3,119 |
| Property tax as a share of value | 0.87% | 0.81% | 0.94% |
| Median household income | $80,221 | $98,141 | $80,734 |
| Homes lived in by their owners | 78% | 64% | 65% |
| Owner homes with a mortgage | 48% | 66% | 61% |
| Median monthly costs, owners with a mortgage | $1,351 | $2,445 | $1,963 |
| Those costs as a share of the owners' income | 15.6% | 22.2% | 21.0% |
| Median rent | $1,095 | $1,760 | $1,413 |
| Rent as a share of renters' income | 28.8% | 30.0% | 30.6% |
| Median year homes were built | 1973 | 1985 | 1980 |
| Vacant homes | 16.6% | 7.3% | 10.1% |
| Population | 820 | 7,816,116 | 334,922,499 |
What a typical home costs per month in Electric City
At this week's average 30-year rate of 7.11%, buying the median Electric City home of $198,400 with 20% down costs about $1,294 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,625, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $55,467 for the 20%-down payment. That payment is 19% of the median Electric City household income of $80,221; at that income and 20% down, the 28% guideline points to a home of about $287,000.
The median rent here is $1,095 a month, so owning the median home costs about $199 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $39,680 |
|---|---|
| Loan amount | $158,720 |
| Principal and interest | $1,068 |
| Property taxes (0.87% a year) | $144 |
| Homeowners insurance (our estimate, 0.5% a year) | $83 |
| PMI | $0 |
| Total per month | $1,294 |
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| Down payment | $6,944 |
|---|---|
| Loan amount | $194,806 |
| Principal and interest | $1,310 |
| Property taxes (0.87% a year) | $144 |
| Homeowners insurance (our estimate, 0.5% a year) | $83 |
| FHA mortgage insurance | $88 |
| Total per month | $1,625 |
Change the numbers in the calculator
Questions about home buying in Electric City
What is the median home value in Electric City?
About $198,400 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Electric City?
Homeowners pay a median $1,725 a year, which is about 0.87% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Electric City?
For the median home with 20% down at 7.11%, the payment is about $1,294 a month. Keeping that under 28% of gross income takes about $55,467 a year.
More about Electric City
- Mortgage Refinance in Electric City
- Debt Relief in Electric City
- Home Equity Loans in Electric City
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data