The typical owner-occupied home in Mill Creek is worth about $903,800, 60% above the Washington median of $564,600 and 2.7 times the national median of $332,700. Owners pay a median $7,026 a year in property taxes, about 0.78% of their home's value, close to the Washington rate of 0.81%. The median household earns $124,364 a year, so the median home costs 7.3 times the median income (5.8 times for Washington). 59% of occupied homes here are lived in by their owners, and 73% of those owners still have a mortgage.
Mill Creek at a glance
| Mill Creek | Washington | U.S. | |
|---|---|---|---|
| Median home value | $903,800 | $564,600 | $332,700 |
| Median property tax paid per year | $7,026 | $4,556 | $3,119 |
| Property tax as a share of value | 0.78% | 0.81% | 0.94% |
| Median household income | $124,364 | $98,141 | $80,734 |
| Homes lived in by their owners | 59% | 64% | 65% |
| Owner homes with a mortgage | 73% | 66% | 61% |
| Median monthly costs, owners with a mortgage | $3,306 | $2,445 | $1,963 |
| Those costs as a share of the owners' income | 21.2% | 22.2% | 21.0% |
| Median rent | $2,249 | $1,760 | $1,413 |
| Rent as a share of renters' income | 29.3% | 30.0% | 30.6% |
| Median year homes were built | 1995 | 1985 | 1980 |
| Vacant homes | 5.9% | 7.3% | 10.1% |
| Population | 20,956 | 7,816,116 | 334,922,499 |
What a typical home costs per month in Mill Creek
At this week's average 30-year rate of 7.11%, buying the median Mill Creek home of $903,800 with 20% down costs about $5,828 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $7,479, 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 $249,771 for the 20%-down payment. That payment is 56% of the median Mill Creek household income of $124,364; at that income and 20% down, the 28% guideline points to a home of about $450,000.
The median rent here is $2,249 a month, so owning the median home costs about $3,579 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $180,760 |
|---|---|
| Loan amount | $723,040 |
| Principal and interest | $4,864 |
| Property taxes (0.78% a year) | $587 |
| Homeowners insurance (our estimate, 0.5% a year) | $377 |
| PMI | $0 |
| Total per month | $5,828 |
Change the numbers in the calculator
| Down payment | $31,633 |
|---|---|
| Loan amount | $887,430 |
| Principal and interest | $5,970 |
| Property taxes (0.78% a year) | $587 |
| Homeowners insurance (our estimate, 0.5% a year) | $377 |
| FHA mortgage insurance | $545 |
| Total per month | $7,479 |
Change the numbers in the calculator
Questions about home buying in Mill Creek
What is the median home value in Mill Creek?
About $903,800 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Mill Creek?
Homeowners pay a median $7,026 a year, which is about 0.78% 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 Mill Creek?
For the median home with 20% down at 7.11%, the payment is about $5,828 a month. Keeping that under 28% of gross income takes about $249,771 a year.
More about Mill Creek
- Mortgage Refinance in Mill Creek
- Debt Relief in Mill Creek
- Home Equity Loans in Mill Creek
- 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