Home Affordability in Island County, WA
A typical home in Island County is worth $638,463, up 0.5% year over year. The effective property tax rate is 0.7% of value, and the 2026 conforming loan limit here is $832,750 — borrow more than that and you need a jumbo loan.
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Assumes housing costs stay at 33% of gross income — the sustainable middle, not the maximum a lender would approve. A typical home in Island County costs $638,463. Rates as of 5 September 2026; they move weekly and your quote will differ.
What each income buys here
| Household income | Conventional | VA | Zero-down CU | FHA |
|---|---|---|---|---|
| $75,000 | $318,000 | $262,000 | $240,000 | $256,000 |
| $100,000 | $438,000 | $361,000 | $330,000 | $352,000 |
| $125,000 | $557,000 | $459,000 | $421,000 | $449,000 |
| $150,000 | $677,000 | $558,000 | $511,000 | $545,000 |
| $200,000 | $916,000 | $755,000 | $692,000 | $738,000 |
Conventional assumes 20% down. VA and credit-union 100% financing assume zero down with the funding fee financed into the loan; FHA assumes 3.5% down with mortgage insurance for the life of the loan. All hold housing at 33% of gross income and cap total debt at the program’s underwriting limit.
Towns in Island County
| Town | Typical home | Year over year | Income needed | |
|---|---|---|---|---|
| Oak Harbor | $531,079 | +1.5% | $120,000 | Details |
| Camano Island | $725,406 | -0.6% | $160,000 | Details |
| Coupeville | $641,182 | +2.2% | $143,000 | Details |
| Clinton | $718,624 | +0.4% | $159,000 | Details |
| Langley | $775,018 | +0.5% | $170,000 | Details |
| Freeland | $738,005 | -0.7% | $163,000 | Details |
| Greenbank | $764,741 | +0.5% | $168,000 | Details |
The cheapest places in the county are Oak Harbor ($531K), Coupeville ($641K), Clinton ($719K).
How the zero-down math actually works
Putting nothing down does not simply move the down payment to zero — it costs you twice. Zero-down programs price above conventional, and they finance a funding fee into the balance, so you start out owing more than the house cost. In Island County that difference is worth roughly $166K of purchasing power at a $150,000 income.
The exception is the VA loan. If anyone on the loan is Active Duty, Reserve, or a Veteran, it prices below conventional and charges no mortgage insurance — and the funding fee is waived entirely with any VA disability rating. It is almost always the cheapest zero-down option, and it is worth about $47K more house than a credit-union 100% loan here.