Explore Millwood
Frequently Asked Questions
How much does it cost to rent a home in Millwood, WA?
The median rent for a home in Millwood, WA is $1,195 per month, though prices vary by neighborhood, size, and property type. As of May 2026, condos tend to be the most affordable option.
How much do you need to make to afford rent in Millwood, WA?
To comfortably afford the median rent in Millwood, WA, a household needs to earn roughly $47,800 per year. This is based on the common guideline that households should spend no more than 30% of gross income on housing. Most landlords require monthly household income of at least 3x the monthly rent, and with a median rent of $1,195 per month in Millwood, WA, renters typically need to show $3,585 per month in gross income to qualify. Actual affordability will vary depending on household debts, other living expenses, and overall budget.
Is it more affordable to rent or buy in Millwood, WA?
In Millwood, WA, the price-to-rent ratio is 17.4, which generally favors renting. This ratio divides the median home price by the annual median rent: below 15 typically favors buying, 15 to 20 is balanced, and above 20 typically favors renting. Your finances, how long you plan to stay, and costs like mortgage rates, taxes, and maintenance all factor into the decision.
What neighborhoods in Millwood, WA are best for renting a home?
The best neighborhood for renting in Millwood, WA depends on your priorities: commute, walkability, budget, and lifestyle all play a role. Popular areas for renting a home include Chief Garry Park, Opportunity, Logan, Mirabeau and Dishman Hills, each with its own character and price range.
