Olympia, WA

Above Avg · 122

Washington · Population 55,583 · Updated March 2026

$1,509
Median Rent / Month
$76,930
Median Income
$457,900
Median Home Value
$1,599
Owner Costs / Month

Affordability

How far your income goes in Olympia

23.5%
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

$18,108
Annual Rent
$0
State Income Tax
$4,213
Property Tax (est.)

Cost of Living Overview

Olympia has a significantly higher cost of living than most US cities, driven largely by premium housing costs. With a cost index of 122 (where 100 equals the national median), Olympia residents can expect to pay median rent of $1,509/month while earning a median household income of $76,930/year.

The median home value in Olympia, WA is $457,900, with typical monthly owner costs around $1,599 including mortgage, insurance, and taxes. The median rent-to-income ratio of 23.5% 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 Olympia.

Frequently Asked Questions

Common questions about living costs in Olympia

What is the cost of living in Olympia, WA?
The cost of living index in Olympia, WA is 122 (US average = 100). Median monthly rent is $1,509, median household income is $76,930/year, and the median home value is $457,900.
Is Olympia, WA affordable?
No, Olympia is more expensive than the national average with a cost index of 122. The rent-to-income ratio is 23.5%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Olympia, WA?
The median gross rent in Olympia, WA is $1,509 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $18,108.
What is the median household income in Olympia?
The median household income in Olympia, WA is $76,930 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.