City · 23,104 residents · Snohomish County, Washington
Mountlake Terrace, Washington
In Mountlake Terrace, a typical home is worth $667,300 and typical rent is $2,004 a month. Compared with all of Snohomish County, the share of households that own their home is 11 points lower.
Typical home value from Zillow, September 2021 to September 2026: from $580,275 to $657,789.
Typical rent
$2,112a month
= about the same as 12 months ago
Typical rent from Zillow, September 2021 to September 2026: from $1,784 to $2,112.
From Zillow (ZHVI/ZORI), September 2026. The Census figures above are 5-year averages (2020–2024).
Mountlake Terrace is in Snohomish County. The FHA loan limit ($1,063,750 for a one-unit home), the fair market rents and the help on this page are those of all of Snohomish County. See the county
What this place has that others do not, from public data, most unusual first.
1
57% of households in Mountlake Terrace own their home, against 68% in Snohomish County.
Sources: U.S. Census Bureau (Average 2020–2024).
The homes here
Housing in Mountlake Terrace
What homes there are in Mountlake Terrace, what they cost, how that changed and how people live, from Census figures (2020–2024).
What homes there are
U.S. Census Bureau, ACS 5-year, 2020–2024
Kind of home
Detached houseAttached houseBuilding of 2 to 4Apartments (5 or more)Mobile homeBoat, RV and otherUnreliable estimate
Mountlake Terrace
Snohomish County
Washington
United States
Kind of home: Mountlake Terrace and its comparisons
Measure
Mountlake Terrace
Snohomish County
Washington
United States
Detached house
51%
64%
62%
61%
Attached house
5%
5%
4%
6%
Building of 2 to 4
6%
6%
6%
8%
Apartments (5 or more)
38%
21%
22%
19%
Mobile home
Unreliable estimate
5%
6%
6%
Boat, RV and other
Unreliable estimate
0%
0%
0%
In Mountlake Terrace, 5 in 10 homes are single-family detached houses; in Snohomish County, 6.
Year built
Before 19601960–19791980–19992000–20092010 or later
Mountlake Terrace
Snohomish County
Washington
United States
Year built: Mountlake Terrace and its comparisons
Measure
Mountlake Terrace
Snohomish County
Washington
United States
Before 1960
23%
12%
21%
26%
1960–1979
37%
23%
23%
24%
1980–1999
24%
33%
27%
25%
2000–2009
5%
18%
15%
14%
2010 or later
11%
15%
14%
11%
Homes in Mountlake Terrace are older: the typical year built is 1973; in Snohomish County, 1990.
Homes in Mountlake Terrace are smaller: 49% have 3 bedrooms or more; in Snohomish County, 66%.
What it costs here
U.S. Census Bureau, ACS 5-year, 2020–2024
Value of owner-occupied homes
Unreliable estimate
Under $100KUnreliable
$100K–$200KUnreliable
$200K–$300K2%
$300K–$500K19%
$500K–$750K37%
$750K–$1M31%
$1M or more7%
Value of owner-occupied homes: Mountlake Terrace and its comparisons
Measure
Mountlake Terrace
Under $100K
Unreliable estimate
$100K–$200K
Unreliable estimate
$200K–$300K
2%
$300K–$500K
19%
$500K–$750K
37%
$750K–$1M
31%
$1M or more
7%
Monthly rent with utilities
Unreliable estimate
Under $500Unreliable
$500–$999Unreliable
$1,000–$1,4996%
$1,500–$1,99940%
$2,000–$2,49931%
$2,500–$2,99911%
$3,000 or more8%
Monthly rent with utilities: Mountlake Terrace and its comparisons
Measure
Mountlake Terrace
Under $500
Unreliable estimate
$500–$999
Unreliable estimate
$1,000–$1,499
6%
$1,500–$1,999
40%
$2,000–$2,499
31%
$2,500–$2,999
11%
$3,000 or more
8%
With a mortgage
$2,580 a month
Snohomish County: $2,748 a month
Without a mortgage
$829 a month
Snohomish County: $864 a month
Owners with a mortgage
67%
Snohomish County: 72%
In Mountlake Terrace, 67% of owners have a mortgage, and their typical cost is $2,580 a month, against $2,748 in Snohomish County. Without one it drops to $829.
How it changed
U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024
Change since 2015–2019
Typical home value
Mountlake Terrace+70%
Snohomish County+73%
Washington+67%
United States+53%
Typical rent
Mountlake Terrace+37%
Snohomish County+36%
Washington+40%
United States+33%
Typical household income
Mountlake Terrace+48%
Snohomish County+28%
Washington+33%
United States+29%
Change since 2015–2019: Mountlake Terrace and its comparisons
Measure
Mountlake Terrace
Snohomish County
Washington
United States
Typical home value
+70%
+73%
+67%
+53%
Typical rent
+37%
+36%
+40%
+33%
Typical household income
+48%
+28%
+33%
+29%
Much as in Snohomish County, the typical home value in Mountlake Terrace rose 70% since 2015–2019.
Rents in Mountlake Terrace rose at about the same pace as in Snohomish County: 37% since 2015–2019, against 36%.
While home values in Mountlake Terrace changed +70% and rent +37%, the typical household income rose 48%.
How people live
U.S. Census Bureau, ACS 5-year, 2020–2024
How people live: Mountlake Terrace and its comparisons
Measure
Mountlake Terrace
Snohomish County
Washington
United States
Rental vacancy
Unreliable estimate
4.0%
4.5%
5.5%
Homeowner vacancy
Unreliable estimate
0.5%
0.7%
0.9%
More than one person per room
3.3%
3.7%
3.5%
3.4%
People per household
2.32
2.64
2.50
2.53
Drive alone
63%
65%
63%
69%
Carpool
9%
9%
9%
9%
Public transit
3%
3%
3%
3%
Walk or bike
2%
2%
4%
3%
Work from home
22%
20%
20%
15%
Other means
Unreliable estimate
1%
1%
2%
Typical commute
20 to 29 minutes
20 to 29 minutes
20 to 29 minutes
20 to 29 minutes
In Mountlake Terrace, 3.3% of households live with more than one person per room, about the same as in Snohomish County.
Fewer people live in each home here: 2.32 on average, against 2.64 in Snohomish County.
To get to work, 63% of workers in Mountlake Terrace drive alone; in Snohomish County, 65%.
Do the math
What would you pay each month for a home in Mountlake Terrace?
A typical home costs more than the typical income allows
We start with a typical home in Mountlake Terrace, worth $667,300, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 60% of the typical household income in Mountlake Terrace, which is $107,687 a year. For that payment to be 28% of income, a household would need to earn about $231,237 a year.
The calculator's FHA and conventional loan limits are those of all of Snohomish County.
Change the price, the down payment or the loan: the payment updates right away.
Your numbers
Local data
$
Starts at the typical home value in Mountlake Terrace. Change it to the price you have in mind.
Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.
Down payment
%
That is $23,356 (3.5% of the price). The usual minimum for this loan is 3.5%.
This week's average ± a quarter or half point.
National average as of November 5, 2026 (Freddie Mac); your rate may be different.
Adjust advanced details⌄
Estimated monthly payment
Local data
$5,396
at 7.18% · 30 years
Loan amount
$655,213
Total interest
$942,698
Paid off in
November 2056
Includes $11,269 FHA upfront mortgage insurance premium.
Does it fit the income?
Comfortable
up to $2,513 a month
Tight
$2,513 to $3,231 a month
Hard
more than $3,231 a month
Your payment · 60%
Compared with the typical household income in Mountlake Terrace ($107,687 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.
Monthly payment breakdown
Principal & interest
$4,439
Property tax
$384
Home insurance
$278
FHA mortgage insurance (MIP)
$295
You need at least $23,356 for the down payment, plus closing costs.
This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.
Total monthly payment $5,396; principal and interest $4,439.
The city and its county
Mountlake Terrace and Snohomish County
Mountlake Terrace is in Snohomish County, Washington. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).
Mountlake Terrace
Map of Snohomish County, Washington, with Mountlake Terrace marked. Around it, the neighboring counties.
Mountlake Terrace
Snohomish County
Other cities with a page
Mountlake Terrace's own numbers
Typical home value
$667,300
Typical monthly rent
$2,004
Typical yearly household income
$107,687
Households that own their home
57%
Effective property tax rate
0.69%
U.S. Census Bureau, American Community Survey (average 2020–2024).
Numbers for all of Snohomish County
FHA limit, one-unit home
$1,063,750
Conventional limit, one unit
$1,063,750
HUD fair market rent, 2 bedrooms
$2,549
Price change over 5 years (FHFA)
+51%
Homes in a high flood-risk zone
1.9%
HUD, FHFA and FEMA don't publish these numbers by city.
Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Snohomish County.
A typical home in Mountlake Terrace is worth $667,300: 4% below the county and 18% above Washington. With the typical household income in Mountlake Terrace ($107,687 a year), a typical home costs 6.2 times what the household earns in a year.
Years of income to pay for a typical home
The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.
Mountlake Terrace6.2 years
Snohomish6.3 years
Washington5.8 years
United States4.1 years
Source: U.S. Census Bureau, Average 2020–2024
How prices have changed in Snohomish County
According to FHFA’s house price index, home prices in Snohomish County rose 128% in the 10 years through 2025.
FHFA does not publish this index by city: these are the numbers for all of Snohomish County.
Yearly change in FHFA’s price index in Snohomish County, 2016 to 2025
2016: +11.6% +11.6% 2016
2017: +12.2% +12.2% 2017
2018: +10.1% +10.1% 2018
2019: +4.4% +4.4% 2019
2020: +5.0% +5.0% 2020
2021: +16.2% +16.2% 2021
2022: +18.1% +18.1% 2022
2023: +1.9% +1.9% 2023
2024: +6.5% +6.5% 2024
2025: +1.3% +1.3% 2025
Change in FHFA’s price index in Snohomish County, Washington and the United States
Period
County
Washington
U.S.
Last year (2025)
+1.3%
+1.8%
+2.9%
5 years (2020–2025)
+51%
+44%
+47%
10 years (2015–2025)
+128%
+113%
+85%
The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data
Mountlake Terrace next to Snohomish County, Washington and the U.S.
Three numbers side by side. “Typical” means the median: half are above it and half below.
Typical home value
Mountlake Terrace$667,300
Snohomish$696,000
Washington$564,600
United States$332,700
Typical monthly rent
Mountlake Terrace$2,004
Snohomish$1,949
Washington$1,760
United States$1,413
Typical yearly household income
Mountlake Terrace$107,687
Snohomish$111,246
Washington$98,141
United States$80,734
See the full table
Mountlake Terrace next to Snohomish County and Washington
Measure
Mountlake Terrace
Snohomish County
Washington
U.S.
Typical home value
$667,300 ▼4% below the county
$696,000
$564,600
$332,700
Typical monthly rent
$2,004 ▲3% above the county
$1,949
$1,760
$1,413
Typical yearly household income
$107,687 ▼3% below the county
$111,246
$98,141
$80,734
Households that own their home
57% ▼11 points below the county
68%
64%
65%
Typical yearly property tax
$4,593 ▼14% below the county
$5,364
$4,556
$3,119
Effective property tax rate
0.69% ▼0.08 points below the county
0.77%
0.81%
0.94%
Renters with high rent for their income
48% ▼6 points below the county
54%
50%
51%
“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Snohomish County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.
Four ways to pay for a typical home in Mountlake Terrace
For a typical $667,300 home in Mountlake Terrace, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Mountlake Terrace's typical property tax, an example home insurance and mortgage insurance when it applies.
FHA, 3.5% down$5,396a month
Least cash to close
Down payment
$23,356
Cash to close
$43,375
Rate
7.18%
Mortgage insurance
FHA MIP · $295
Conventional, 5% down$5,273a month
Down payment
$33,365
Cash to close
$53,384
Rate
7.18%
Mortgage insurance
PMI · $317
Conventional, 20% down, no PMI$4,278a month
Down payment
$133,460
Cash to close
$153,479
Rate
7.18%
Mortgage insurance
None
ITIN, 15% down (example)$4,895a month
Down payment
$100,095
Cash to close
$120,114
Rate
8.18%
Mortgage insurance
None
Four ways to pay for a typical home in Mountlake Terrace
Loan
Monthly payment
Down payment
Loan amount
Rate
Mortgage insurance
Cash to close
Minimum score
FHA, 3.5% down Least cash to close
$5,396
$23,356
$655,214
7.18%
FHA MIP · $295
$43,375
580
Conventional, 5% down
$5,273
$33,365
$633,935
7.18%
PMI · $317
$53,384
620*
Conventional, 20% down, no PMI
$4,278
$133,460
$533,840
7.18%
None
$153,479
620*
ITIN, 15% down (example)
$4,895
$100,095
$567,205
8.18%
None
$120,114
Set by the lender
The option that asks for the least cash to close is FHA, 3.5% down.
Cash to close = down payment plus 3% of the price in closing costs (example).
Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.
Typical rent in Mountlake Terrace is $2,004 a month: 3% above the county. In Mountlake Terrace, 48% of renter households pay 30% or more of their income in rent.
HUD publishes a fair market rent for all of Snohomish County, by unit size. To pay the 2-bedroom one ($2,549 a month) without spending more than 30% of your income, you would need to earn $49.02 an hour working full time.
Mountlake Senior Living5525 244th St SW, Mountlake Terrace 9804396 homes, 20 low-income · 1 bd: 51 · 2 bd: 45 · In service since 2017 · For people with disabilities
You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.
There is 1 HUD-approved agency with an office in Snohomish County; 1 says it serves in Spanish.
No down payment, repair or rent-help program on our list is for Mountlake Terrace or Snohomish County. The ones below are statewide in Washington: they work in Mountlake Terrace the same as in the rest of the state.
Washington state commission 0% second mortgage for 3%, 4% or 5% of the first mortgage, with no monthly payments; you do not need to be a first-time buyer.Offered by Washington State Housing Finance Commission.
Washington state commission loan with no monthly payments of up to 20% of the price (maximum $150,000) plus closing costs, for first-time buyers whose family lived in Washington before 1968 and belonged to a group affected by housing discrimination, including Hispanic people.Offered by Washington State Housing Finance Commission.
Washington state commission loan of up to $15,000 at 1% simple interest, with no monthly payments, for the down payment and closing costs of first-time buyers with the House Key Opportunity mortgage.Offered by Washington State Housing Finance Commission.
The HUD-approved agencies closest to the center of Mountlake Terrace, in a straight line, nearest first. If one says it serves in Spanish, its card says so.
PS
Parkview Services
4720 200th St SW Ste 200, Lynnwood · 2 miles away · Spanish
Also serves in Cantonese, Mandarin Chinese, and other languages.
2 of the 3 agencies on this list say they serve in Spanish.
Ask for service in Spanish
When you call, say “Spanish, please” or ask if someone speaks Spanish. If not, ask whether they offer an interpreter.
Housing authorities of Mountlake Terrace
HUD’s record names them for Mountlake Terrace or Snohomish County. They run public housing or Section 8 vouchers. Ask whether their waiting list is open.
Housing Authority of Snohomish CountyPublic housing and Section 8 vouchers(425) 290-8499
No legal help resource on our list is for Mountlake Terrace or Snohomish County in particular.
If you have a problem with your landlord, an eviction notice or a scam, the Legal Services Corporation (LSC) search shows the free legal aid offices that serve your area.
Short answers with the numbers for Mountlake Terrace and all of Snohomish County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.
How much does a typical home cost in Mountlake Terrace?
The typical home value in Mountlake Terrace is $667,300, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Snohomish County it is $696,000.
How much does it cost to rent in Mountlake Terrace?
Typical rent in Mountlake Terrace is $2,004 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Snohomish County is $2,549.
What is the FHA loan limit in Mountlake Terrace?
Mountlake Terrace uses the FHA limit for all of Snohomish County (2026): $1,063,750 for a one-unit home and $2,045,700 for a four-unit home.
How much property tax do owners pay in Mountlake Terrace?
The typical homeowner in Mountlake Terrace pays $4,593 a year, according to the U.S. Census Bureau. That is 0.69% of the home’s value; in Snohomish County, the rate is 0.77%.
Where can I find free help to buy or rent in Mountlake Terrace?
There is 1 HUD-approved counseling agency with an office in Snohomish County. 1 says it serves in Spanish. They can help you get ready to buy, with your credit, or with rent.
