The typical owner-occupied home in Hobart is worth about $950,300, 68% above the Washington median of $564,600 and 2.9 times the national median of $332,700. Owners pay a median $9,702 a year in property taxes, about 1.02% of their home's value, higher than the Washington rate of 0.81%. The median household earns $160,536 a year, so the median home costs 5.9 times the median income (5.8 times for Washington). 95% of occupied homes here are lived in by their owners, and 69% of those owners still have a mortgage.
Hobart at a glance
| Hobart | Washington | U.S. | |
|---|---|---|---|
| Median home value | $950,300 | $564,600 | $332,700 |
| Median property tax paid per year | $9,702 | $4,556 | $3,119 |
| Property tax as a share of value | 1.02% | 0.81% | 0.94% |
| Median household income | $160,536 | $98,141 | $80,734 |
| Homes lived in by their owners | 95% | 64% | 65% |
| Owner homes with a mortgage | 69% | 66% | 61% |
| Median monthly costs, owners with a mortgage | $3,681 | $2,445 | $1,963 |
| Those costs as a share of the owners' income | 25.4% | 22.2% | 21.0% |
| Median rent | $2,726 | $1,760 | $1,413 |
| Rent as a share of renters' income | 19.5% | 30.0% | 30.6% |
| Median year homes were built | 1985 | 1985 | 1980 |
| Vacant homes | 0.4% | 7.3% | 10.1% |
| Population | 6,552 | 7,816,116 | 334,922,499 |
What a typical home costs per month in Hobart
At this week's average 30-year rate of 7.11%, buying the median Hobart home of $950,300 with 20% down costs about $6,318 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $8,054, 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 $270,767 for the 20%-down payment. That payment is 47% of the median Hobart household income of $160,536; at that income and 20% down, the 28% guideline points to a home of about $563,000.
The median rent here is $2,726 a month, so owning the median home costs about $3,592 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $190,060 |
|---|---|
| Loan amount | $760,240 |
| Principal and interest | $5,114 |
| Property taxes (1.02% a year) | $808 |
| Homeowners insurance (our estimate, 0.5% a year) | $396 |
| PMI | $0 |
| Total per month | $6,318 |
Change the numbers in the calculator
| Down payment | $33,260 |
|---|---|
| Loan amount | $933,088 |
| Principal and interest | $6,277 |
| Property taxes (1.02% a year) | $808 |
| Homeowners insurance (our estimate, 0.5% a year) | $396 |
| FHA mortgage insurance | $573 |
| Total per month | $8,054 |
Change the numbers in the calculator
Questions about home buying in Hobart
What is the median home value in Hobart?
About $950,300 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Hobart?
Homeowners pay a median $9,702 a year, which is about 1.02% 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 Hobart?
For the median home with 20% down at 7.11%, the payment is about $6,318 a month. Keeping that under 28% of gross income takes about $270,767 a year.
More about Hobart
- Mortgage Refinance in Hobart
- Debt Relief in Hobart
- Home Equity Loans in Hobart
- 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