Market Overview
Home Prices in Mountlake Terrace, WA
The median home value in Mountlake Terrace, WA is $686,931 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's down 2.3% compared to a year ago and up 0.2% from two years prior.
Compared to the U.S. national median of $410,000, homes in Mountlake Terrace are priced68% above average. Mountlake Terrace is part of the Seattle-Tacoma-Bellevue, WA metro area.
Over the past five years, Mountlake Terrace home values have risen by approximately16.3%, reflecting steady appreciation in this market.
Price History
Mountlake Terrace Home Price Trend
City Comparison
Mountlake Terrace vs. National Median
At $686,931, homes in Mountlake Terrace cost 68% above the national median of $410,000. Buyers in Mountlake Terrace should expect to pay a premium compared to most U.S. markets.
Affordability
What Does It Cost to Buy in Mountlake Terrace?
20% Down Payment
$137,386
on $686,931
Monthly P&I
$3,583/mo
30-yr @ 6.8%
Total Monthly Est.
~$4,550/mo
incl. taxes & insurance
Income Needed
$182,000
gross annual (30% rule)
10% Down Option
$68,693
+ PMI applies
Loan Amount (20% dn)
$549,545
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Mountlake Terrace, WA?
The median home value in Mountlake Terrace is $686,931 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's down 2.3% year-over-year.
How much have home prices changed in Mountlake Terrace?
Over the past year, home values in Mountlake Terrace have decreased by 2.3%. Over five years, prices have risen approximately 16.3%.
How much do I need to earn to buy a home in Mountlake Terrace?
To comfortably afford the median home price of $686,931 with a 20% down payment ($137,386) at today's rates (6.8%), you'd need a gross annual income of approximately $182,000. This assumes keeping total housing costs at or below 30% of gross income.
How does Mountlake Terrace compare to the national average home price?
The national median home value is approximately $410,000. At $686,931, homes in Mountlake Terrace are 68% above the national average.
What metro area is Mountlake Terrace part of?
Mountlake Terrace is part of the Seattle-Tacoma-Bellevue, WA metropolitan area. Home prices and market conditions can vary across the broader metro region.