Quick facts: Lynnwood, WA

Quick Facts

115.2
Cost of Living
above US average
43,212
Population
61.77
Crime Rate per 1000
above US average
$72,241
Median Income
below US average
$899,950
Median House Price
above US average
$3045.27
Average Rent
above US average
7%
Poverty Rate
below US average
4.8%
Unemployment Rate
above US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $72,241.

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Income Needed to Buy

βœ— Stretch
$282k/year
Based on $899,950 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $282k vs median $72,241
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Income Needed to Rent

⚠ Stretch
$131k/year
Based on $3045.27/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $131k vs median $72,241
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Lynnwood, WA

Lynnwood is a vibrant city located in Snohomish County, Washington, situated approximately 16 miles north of Seattle. Known for its residential neighborhoods and commercial centers, Lynnwood serves as a suburban hub with a population of around 38,000 residents. The city's strategic location along the I-5 corridor makes it easily accessible to both Seattle and Everett. Lynnwood boasts a range of amenities, including shopping centers like the Alderwood Mall, which features numerous retail stores, dining options, and entertainment facilities. The city is also home to several parks, including the popular Lynndale Park, offering recreational opportunities for residents and visitors alike. Culturally, Lynnwood hosts various community events throughout the year, promoting local arts and fostering a sense of community spirit. The city's diverse population is reflected in its range of restaurants and cultural events. With its mix of urban convenience and suburban charm, Lynnwood offers a desirable living environment, making it an attractive choice for families and individuals seeking a balanced lifestyle in the Puget Sound region.

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