The typical owner-occupied home in Bonney Lake is worth about $607,900, 8% above the Washington median of $564,600 and 83% above the national median of $332,700. Owners pay a median $5,436 a year in property taxes, about 0.89% of their home's value, higher than the Washington rate of 0.81%. The median household earns $136,845 a year, so the median home costs 4.4 times the median income (5.8 times for Washington). 79% of occupied homes here are lived in by their owners, and 79% of those owners still have a mortgage.
Bonney Lake at a glance
| Bonney Lake | Washington | U.S. | |
|---|---|---|---|
| Median home value | $607,900 | $564,600 | $332,700 |
| Median property tax paid per year | $5,436 | $4,556 | $3,119 |
| Property tax as a share of value | 0.89% | 0.81% | 0.94% |
| Median household income | $136,845 | $98,141 | $80,734 |
| Homes lived in by their owners | 79% | 64% | 65% |
| Owner homes with a mortgage | 79% | 66% | 61% |
| Median monthly costs, owners with a mortgage | $2,684 | $2,445 | $1,963 |
| Those costs as a share of the owners' income | 21.5% | 22.2% | 21.0% |
| Median rent | $2,256 | $1,760 | $1,413 |
| Rent as a share of renters' income | 28.9% | 30.0% | 30.6% |
| Median year homes were built | 2001 | 1985 | 1980 |
| Vacant homes | 3.1% | 7.3% | 10.1% |
| Population | 22,090 | 7,816,116 | 334,922,499 |
What a typical home costs per month in Bonney Lake
At this week's average 30-year rate of 7.11%, buying the median Bonney Lake home of $607,900 with 20% down costs about $3,976 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $4,988, 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 $170,385 for the 20%-down payment. That payment is 35% of the median Bonney Lake household income of $136,845; at that income and 20% down, the 28% guideline points to a home of about $488,000.
The median rent here is $2,256 a month, so owning the median home costs about $1,720 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $121,580 |
|---|---|
| Loan amount | $486,320 |
| Principal and interest | $3,272 |
| Property taxes (0.89% a year) | $451 |
| Homeowners insurance (our estimate, 0.5% a year) | $253 |
| PMI | $0 |
| Total per month | $3,976 |
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| Down payment | $21,276 |
|---|---|
| Loan amount | $596,889 |
| Principal and interest | $4,015 |
| Property taxes (0.89% a year) | $451 |
| Homeowners insurance (our estimate, 0.5% a year) | $253 |
| FHA mortgage insurance | $269 |
| Total per month | $4,988 |
Change the numbers in the calculator
Questions about home buying in Bonney Lake
What is the median home value in Bonney Lake?
About $607,900 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Bonney Lake?
Homeowners pay a median $5,436 a year, which is about 0.89% 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 Bonney Lake?
For the median home with 20% down at 7.11%, the payment is about $3,976 a month. Keeping that under 28% of gross income takes about $170,385 a year.
More about Bonney Lake
- Mortgage Refinance in Bonney Lake
- Debt Relief in Bonney Lake
- Home Equity Loans in Bonney Lake
- 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