Washington Debt Overview
| Metric | Washington | US Average |
|---|---|---|
| Avg household debt (ex-mortgage) | $50,200 | $44,200 |
| Median home value | $574,000 | $308,000 |
| Property tax rate | 0.98% | 1.08% |
| State income tax | None | varies |
Payoff Time: $50200 Debt at 20% APR
| Monthly Payment | Payoff Time | Total Interest |
|---|---|---|
| $1,004/mo | 9yr 1mo | ~$58,635 |
| $1,506/mo | 4yr 2mo | ~$23,685 |
| $2,008/mo | 2yr 9mo | ~$15,282 |
| $2,510/mo | 2yr 1mo | ~$11,376 |
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What is the average debt in Washington?
The average household debt in Washington (excluding mortgage) is approximately $50,200.
Does Washington income tax affect debt repayment?
Washington has no state income tax, meaning residents keep more of their income to apply toward debt payoff.
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