How much rent can you afford in Mountlake Terrace, WA?
Run your salary against Mountlake Terrace's current rent, or find the income you'd need for a target rent. Powered by live RentDataNow medians.
The 30% rent rule, in Mountlake Terrace
At a median rent of $2,078/mo, Mountlake Terrace is very affordable when measured against Mountlake Terrace median household income of $107,687/yr. Rent would consume roughly 23% of pre-tax income, and a salary of about $83,120 keeps rent at the recommended 30% threshold.
How Mountlake Terrace compares nearby
Median rent for the closest cities with data.
Frequently asked
How much rent can I afford in Mountlake Terrace?
On a $107,687 salary (the Mountlake Terrace median household income), the recommended ceiling is 30% of pre-tax income, or about $2,692/mo. Mountlake Terrace's median rent is $2,078/mo. Use the calculator on this page to run your own salary.
What salary do I need to live in Mountlake Terrace?
To keep Mountlake Terrace's $2,078/mo median rent under 30% of income, you'd need about $83,120/yr. Lower your target share (e.g. 25%) to need more, or raise it (e.g. 40%) to need less.
Is Mountlake Terrace affordable on the median Washington income?
Mountlake Terrace is very affordable on a $107,687 income. Rent would take 23% of pre-tax pay, inside the recommended 30% threshold.
What's the 30% rent rule?
The 30% rule is a long-standing budgeting guideline that keeps rent at or below 30% of gross (pre-tax) income. It leaves enough room for utilities, transit, savings, and debt service. In high-cost markets, many renters exceed 30%, and the Census Bureau classifies households paying more than 30% of income on rent as "cost-burdened".