The typical owner-occupied home in Loon Lake is worth about $340,800, 40% below the Washington median of $564,600 and about the same as the national median of $332,700. Owners pay a median $1,615 a year in property taxes, about 0.47% of their home's value, lower than the Washington rate of 0.81%. The median household earns $76,250 a year, so the median home costs 4.5 times the median income (5.8 times for Washington). 78% of occupied homes here are lived in by their owners, and 53% of those owners still have a mortgage.
Loon Lake at a glance
| Loon Lake | Washington | U.S. | |
|---|---|---|---|
| Median home value | $340,800 | $564,600 | $332,700 |
| Median property tax paid per year | $1,615 | $4,556 | $3,119 |
| Property tax as a share of value | 0.47% | 0.81% | 0.94% |
| Median household income | $76,250 | $98,141 | $80,734 |
| Homes lived in by their owners | 78% | 64% | 65% |
| Owner homes with a mortgage | 53% | 66% | 61% |
| Median monthly costs, owners with a mortgage | $1,440 | $2,445 | $1,963 |
| Those costs as a share of the owners' income | 31.5% | 22.2% | 21.0% |
| Median rent | – | $1,760 | $1,413 |
| Rent as a share of renters' income | 24.1% | 30.0% | 30.6% |
| Median year homes were built | 1998 | 1985 | 1980 |
| Vacant homes | 36.0% | 7.3% | 10.1% |
| Population | 906 | 7,816,116 | 334,922,499 |
What a typical home costs per month in Loon Lake
At this week's average 30-year rate of 7.11%, buying the median Loon Lake home of $340,800 with 20% down costs about $2,110 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,677, 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 $90,409 for the 20%-down payment. That payment is 33% of the median Loon Lake household income of $76,250; at that income and 20% down, the 28% guideline points to a home of about $287,000.
| Down payment | $68,160 |
|---|---|
| Loan amount | $272,640 |
| Principal and interest | $1,834 |
| Property taxes (0.47% a year) | $133 |
| Homeowners insurance (our estimate, 0.5% a year) | $142 |
| PMI | $0 |
| Total per month | $2,110 |
Change the numbers in the calculator
| Down payment | $11,928 |
|---|---|
| Loan amount | $334,627 |
| Principal and interest | $2,251 |
| Property taxes (0.47% a year) | $133 |
| Homeowners insurance (our estimate, 0.5% a year) | $142 |
| FHA mortgage insurance | $151 |
| Total per month | $2,677 |
Change the numbers in the calculator
Questions about home buying in Loon Lake
What is the median home value in Loon Lake?
About $340,800 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Loon Lake?
Homeowners pay a median $1,615 a year, which is about 0.47% 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 Loon Lake?
For the median home with 20% down at 7.11%, the payment is about $2,110 a month. Keeping that under 28% of gross income takes about $90,409 a year.
More about Loon Lake
- Mortgage Refinance in Loon Lake
- Debt Relief in Loon Lake
- Home Equity Loans in Loon 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