Fairwood, WA

Average · 103

Washington · Population 10,439 · Updated March 2026

$1,191
Median Rent / Month
$84,911
Median Income
$435,200
Median Home Value
$1,222
Owner Costs / Month

Affordability

How far your income goes in Fairwood

16.8%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in Washington

State-level tax rates that affect your costs

0%
Income Tax (Top Rate)
6.5%
Sales Tax
0.92%
Property Tax Rate

Estimated Annual Costs

$14,292
Annual Rent
$0
State Income Tax
$4,004
Property Tax (est.)

Cost of Living Overview

Fairwood has a cost of living close to the national average, offering a balanced mix of expenses and amenities. With a cost index of 103 (where 100 equals the national median), Fairwood residents can expect to pay median rent of $1,191/month while earning a median household income of $84,911/year.

The median home value in Fairwood, WA is $435,200, with typical monthly owner costs around $1,222 including mortgage, insurance, and taxes. The median rent-to-income ratio of 16.8% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

Washington has no state income tax, which can represent significant savings compared to high-tax states. Combined with a 6.5% sales tax rate and 0.92% effective property tax rate, the overall tax environment helps keep costs manageable in Fairwood.

Frequently Asked Questions

Common questions about living costs in Fairwood

What is the cost of living in Fairwood, WA?
The cost of living index in Fairwood, WA is 103 (US average = 100). Median monthly rent is $1,191, median household income is $84,911/year, and the median home value is $435,200.
Is Fairwood, WA affordable?
No, Fairwood is more expensive than the national average with a cost index of 103. The rent-to-income ratio is 16.8%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Fairwood, WA?
The median gross rent in Fairwood, WA is $1,191 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $14,292.
What is the median household income in Fairwood?
The median household income in Fairwood, WA is $84,911 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Washington?
Washington has a top income tax rate of 0%, a sales tax of 6.5%, and an effective property tax rate of 0.92%. Notably, there is no state income tax.