Reverse mortgages across Washington
Washington splits in two. King County values often press against the HECM limit, while Spokane and Clark County homes do not. The state also has more senior property tax relief than most, and it is worth using first.
| Measure | Washington | U.S. |
|---|---|---|
| Residents 65 and older | 18.3% | 18.9% |
| Owner-occupied homes | 63.8% | 65.2% |
| Median home value | $564,600 | $332,700 |
| Monthly owner costs, no mortgage | $773 | $638 |
| Monthly owner costs, with mortgage | $2,445 | $1,963 |
| Veterans | 473,124 | 16,185,883 |
Home prices in Washington
FHFA's purchase-only index shows Washington at -0.9% over the past year and +20.0% over five years through the second quarter of 2026. Metro results vary widely, as the table below shows. The oldest cities on our list are Spokane Valley (17.6%), Vancouver (16.7%), Spokane (16.6%). The highest median value is Bellevue at $1,340,300 and the lowest is Spokane at $363,500.
The $1,249,125 HECM limit in Washington
The HECM limit is one national number for 2026, unlike FHA purchase limits, which vary by county. In 2 of the 10 cities below, the median home is at or above 75 percent of the limit, so the cap is a real planning number.
Washington property tax programs to check first
Senior exemption and assessment freeze
You must be at least 61 by December 31 of the year before taxes are due, or unable to work because of a disability, or a qualifying disabled veteran. Combined disposable income must be at or below your county's threshold. Thresholds change for 2027, and the state says more households may qualify.
Property tax deferrals
Owners 60 or older under the county's deferral threshold can defer taxes through the senior deferral. A separate limited-income deferral has no age test and caps disposable income at $57,000. Your county assessor and treasurer run these.
Washington reverse mortgage data by city
| City | 65+ | Owner-occupied | Median value | 5-year price change |
|---|---|---|---|---|
| Spokane Valley | 17.6% | 58.2% | $382,300 | +29.1% |
| Vancouver | 16.7% | 50.8% | $462,400 | +21.2% |
| Spokane | 16.6% | 58.8% | $363,500 | +29.1% |
| Tacoma | 15% | 55.8% | $479,600 | +28.4% |
| Federal Way | 15% | 55.3% | $552,800 | +24.6% |
| Bellevue | 14.8% | 52% | $1,340,300 | +24.6% |
| Everett | 14.6% | 49% | $565,300 | +31.6% |
| Renton | 13.1% | 54.4% | $672,600 | +24.6% |
| Seattle | 13% | 43.7% | $938,600 | +24.6% |
| Kent | 11.9% | 57.2% | $587,800 | +24.6% |
Sorted by 65+ share. Price change is the metro area where FHFA publishes one, otherwise the state.
New to reverse loans? Start with our reverse mortgage guide, or see all our Washington mortgage options.
Sources: U.S. Census Bureau QuickFacts (American Community Survey 2020-2024, population estimates July 2025). FHFA House Price Index, 2026 Q2. HUD 2026 HECM limit.
Common questions
What is the reverse mortgage limit in Washington?
The 2026 HECM limit is $1,249,125 nationwide, including Washington. It caps the value used to calculate your proceeds, not the value of your home.
How old do I need to be for a reverse mortgage in Washington?
All borrowers on a HECM must be 62 or older. A younger spouse may be protected as an eligible non-borrowing spouse if the rules are met.
Which Washington cities have the oldest populations?
Among the cities we serve, Spokane Valley (17.6%), Vancouver (16.7%), Spokane (16.6%) have the highest share of residents 65 and older.
Bayview Residential is a mortgage broker and is not affiliated with HUD or FHA. A reverse mortgage is a loan that must be repaid, and the balance grows over time. You must keep paying property taxes, insurance and home maintenance, and live in the home as your principal residence. All loans are subject to eligibility and approval. This page is general information and not legal, tax or benefits advice.