Property Type Comparison: Single-Family vs Townhome vs Condo in Seattle

You have $850,000 to spend. You can buy a 1,200 sqft condo in Capitol Hill, a 1,600 sqft townhome in Renton, or a 1,800 sqft single-family house in Everett. Which should you choose?

Property type isn't just about square footage - it's about the kind of freedom you want:

• Single-family home: The freedom to do what you want on your own land. The freedom from worrying about disturbing neighbors or being disturbed.
• Townhome: The freedom of homeownership without yard work. The freedom to enjoy fall colors from your patio without raking leaves.
• Condo: The freedom of urban living with minimal responsibility. The freedom to take the elevator to the gym instead of driving across town.

Each property type offers distinct advantages, costs, and lifestyle implications. In Seattle's market, the differences are significant - from HOA fees to maintenance responsibilities to resale potential.

This guide provides a complete comparison with real Seattle examples, cost breakdowns, and a decision framework to help you choose the right property type for your situation.

Table of Contents

• Single-Family Home (SFH)
• Townhome
• Condo
• Side-by-Side Comparison
• Financing and Insurance Considerations
• Decision Framework
• Seattle-Specific Considerations
• Summary: Key Takeaways
• Next Steps
• Related Articles

Single-Family Home (SFH)

What It Is

Definition: Detached house on its own lot

Typical Seattle SFH:

• 1,500–2,500 sqft
• 3–4 bedrooms
• 2–3 bathrooms
• Private yard
• Garage or driveway
• No shared walls

Price range (Q4 2024):

• Seattle proper: $750,000–1,200,000
• Close-in suburbs: $650,000–900,000
• Outer suburbs: $500,000–750,000

Pros

Complete control:

• Renovate without approval
• Paint any color
• Add deck or fence
• Plant trees
• Install solar panels

Privacy:

• No shared walls
• Your own yard
• Distance from neighbors
• No one above or below

Outdoor space:

• Private yard for kids/pets
• Gardening space
• Outdoor entertaining
• Storage for bikes, kayaks, etc.

No HOA (usually):

• No monthly fees
• No rules to follow
• No special assessments
• No approval needed

Best appreciation:

• Land value increases
• More control over improvements
• Broader buyer pool
• Historically strongest appreciation

Rental potential:

• Can add ADU for income
• Rent whole house
• More rental demand
• Higher rental income

Cons

All maintenance is yours:

• Roof: $15,000–25,000 every 20–30 years
• Exterior paint: $8,000–15,000 every 10–15 years
• Landscaping: $200–400/month or DIY
• Gutters: $300–600/year
• HVAC: $8,000–15,000 every 15–20 years
• Annual cost: $8,000–12,000

Higher utilities:

• Heating larger space
• Cooling larger space
• Water for yard
• Typical: $300–500/month

More time commitment:

• Yard work: 2–4 hours/week
• Maintenance tasks
• Seasonal prep
• Snow removal (if applicable)

Higher property taxes:

• Based on land + structure
• Typically 1% of value
• $825,000 home: $8,250/year

Less walkable:

• Usually in residential areas
• Need car for errands
• Farther from urban amenities

Higher purchase price:

• For same location as condo
• Or farther from city center
• Larger down payment needed

Best For

• Families with kids
• Pet owners (especially dogs)
• DIY enthusiasts
• People who want yard
• Long-term owners (10+ years)
• Those who value privacy

Seattle Example

Location: Northgate Price: $825,000 Size: 1,800 sqft, 3 bed/2 bath Lot: 5,000 sqft Built: 1965

Monthly costs:

• Mortgage (10% down): $4,690
• Property tax: $690
• Insurance: $150
• Utilities: $400
• Maintenance: $690
• Total: $6,620/month

Townhome

What It Is

Definition: Multi-story home sharing walls with neighbors

Typical Seattle townhome:

• 1,400–1,800 sqft
• 2–3 bedrooms
• 2.5–3 bathrooms
• Small yard or patio
• Garage (usually)
• Shared walls (1–2 sides)

Price range (Q4 2024):

• Seattle proper: $650,000–900,000
• Close-in suburbs: $550,000–750,000
• Outer suburbs: $450,000–650,000

Pros

Lower maintenance:

• HOA handles exterior
• HOA handles roof
• HOA handles landscaping
• You handle interior only

More affordable:

• Than SFH in same area
• Lower purchase price
• Smaller down payment

Some outdoor space:

• Small yard or patio
• Private (usually)
• Enough for grilling, kids playing

Garage included:

• Protected parking
• Storage space
• Workshop potential

Good appreciation:

• Better than condos
• Not as good as SFH
• Still building equity in structure + land

Urban locations:

• Often in walkable areas
• Near transit
• Close to amenities

Cons

HOA fees:

• Typical: $200–400/month
• Covers: Exterior, roof, landscaping, insurance
• Can increase 3–5% annually
• Special assessments possible

Shared walls:

• Hear neighbors
• Less privacy
• Noise concerns
• Can't control neighbor maintenance

HOA rules:

• Approval for exterior changes
• Paint color restrictions
• Fence/deck approval needed
• Rental restrictions possible

Limited outdoor space:

• Small yard
• No room for large garden
• Limited pet space
• Less privacy than SFH

Less control:

• Can't change exterior
• HOA decides on repairs
• Must follow CC&Rs
• Approval process for changes

Smaller buyer pool:

• Not for everyone
• Some prefer SFH or condo
• May take longer to sell

Best For

• First-time buyers
• Young professionals
• Small families
• People who want low maintenance
• Those who want some outdoor space
• Urban lifestyle seekers

Seattle Example

Location: Columbia City Price: $725,000 Size: 1,600 sqft, 3 bed/2.5 bath Built: 2018 HOA: $300/month

Monthly costs:

• Mortgage (10% down): $4,115
• Property tax: $605
• Insurance: $125
• HOA: $300
• Utilities: $300
• Maintenance (interior): $200
• Total: $5,645/month

Condo

What It Is

Definition: Unit in multi-unit building, own interior only

Typical Seattle condo:

• 800–1,400 sqft
• 1–2 bedrooms
• 1–2 bathrooms
• Balcony or patio (maybe)
• Parking space (maybe)
• Shared walls (all sides)

Price range (Q4 2024):

• Downtown Seattle: $400,000–800,000
• Capitol Hill/Ballard: $450,000–700,000
• Eastside: $500,000–900,000

Pros

Lowest maintenance:

• HOA handles everything exterior
• HOA handles roof, siding, landscaping
• HOA handles common areas
• You handle interior only

Amenities:

• Gym, pool, rooftop deck
• Concierge, security
• Guest parking
• Package room

Urban locations:

• Downtown, Capitol Hill, Belltown
• Walkable to everything
• Near transit
• Urban lifestyle

Lower utilities:

• Smaller space to heat/cool
• Shared walls help insulation
• Typical: $150–250/month

Security:

• Controlled access
• Neighbors nearby
• Security systems
• Safer for travel

Most affordable:

• Lowest purchase price
• Smallest down payment
• Entry point to ownership

Lock and leave:

• Easy to travel
• No yard to maintain
• No exterior to worry about
• Perfect for busy lifestyle

Cons

High HOA fees:

• Typical: $400–800/month
• Downtown: $500–800/month
• Covers: Everything exterior, amenities, reserves
• Can increase 5–10% annually

No control:

• Can't change exterior
• Can't change building
• HOA makes all decisions
• Must follow all rules

Special assessments:

• Building repairs
• Roof replacement
• Elevator upgrades
• Can be $10,000–30,000

No outdoor space:

• Balcony only (maybe)
• No yard
• No gardening
• Limited for pets

Noise:

• Neighbors above/below/beside
• Hallway noise
• Elevator noise
• Street noise

Parking costs:

• May be extra ($50–200/month)
• Limited guest parking
• No garage for storage

Financing challenges:

• Some buildings non-warrantable
• Higher rates possible
• Larger down payment may be needed
• Fewer lender options

Slower appreciation:

• No land value
• More supply (many units)
• Smaller buyer pool
• HOA fees reduce affordability

Rental restrictions:

• Many HOAs limit rentals
• May require owner occupancy
• Reduces flexibility

Best For

• Singles or couples
• Urban lifestyle seekers
• People who travel frequently
• Those who want amenities
• Low-maintenance preference
• First-time buyers with limited budget

Seattle Example

Location: Capitol Hill Price: $625,000 Size: 1,200 sqft, 2 bed/2 bath Built: 2015 HOA: $450/month

Monthly costs:

• Mortgage (10% down): $3,540
• Property tax: $520
• Insurance (HO-6): $50
• HOA: $450
• Utilities: $200
• Maintenance (interior): $100
• Total: $4,860/month

Side-by-Side Comparison

Purchase Price (Similar Location)

Capitol Hill area:

• SFH: $1,000,000+ (rare, small lot)
• Townhome: $750,000–850,000
• Condo: $600,000–700,000

Northgate area:

• SFH: $750,000–900,000
• Townhome: $650,000–750,000
• Condo: $450,000–600,000

Renton area:

• SFH: $650,000–800,000
• Townhome: $550,000–650,000
• Condo: $400,000–500,000

Monthly Costs ($750,000 Purchase)

Difference: SFH costs $325/month more than condo

5-Year Total Cost Analysis

Assumptions:

• Purchase price: $750,000
• Down payment: 10% ($75,000)
• Rate: 6.5%
• Hold for 5 years
• Appreciation: 4% annually

Single-Family Home:

• Total paid: $363,900
• Equity from payments: $45,000
• Appreciation: $162,000
• Sale costs: –$60,000
• Net position: –$216,900

Townhome:

• Total paid: $348,900
• Equity from payments: $45,000
• Appreciation: $162,000
• Sale costs: –$60,000
• Net position: –$201,900

Condo:

• Total paid: $344,400
• Equity from payments: $45,000
• Appreciation: $135,000 (3% annually, slower)
• Sale costs: –$60,000
• Net position: –$224,400

Winner: Townhome (lowest total cost, good appreciation)

Lifestyle Comparison

Resale Considerations

Easiest to sell:

1. Single-family home (broadest appeal)
2. Townhome (good middle ground)
3. Condo (smaller buyer pool)

Fastest appreciation:

1. Single-family home (land value)
2. Townhome (some land value)
3. Condo (no land value)

Most liquid:

1. Single-family home (most buyers)
2. Townhome (growing demand)
3. Condo (fewer buyers, HOA concerns)

Financing and Insurance Considerations

Single-Family Home Financing

Single-family homes typically have the most straightforward financing and insurance requirements, with standard mortgage products and insurance policies that are widely available and well-understood. Most lenders offer standard financing for single-family homes, with competitive rates and terms that reflect the lower risk associated with these properties.

Insurance requirements for single-family homes typically include standard homeowners insurance policies that cover the structure, personal property, and liability protection. Washington single-family homes may require additional insurance coverage for earthquake protection and flood insurance in certain areas.

Townhome Financing Considerations

Townhomes typically have moderate financing and insurance complexity, with requirements that fall between single-family homes and condominiums. Most lenders offer standard financing for townhomes, though some may have specific requirements related to HOA financial health and community stability.

Insurance requirements for townhomes typically include standard homeowners insurance policies, though some policies may have specific provisions related to shared walls and community maintenance.

Condominium Financing Complexity

Condominiums typically have the most complex financing and insurance requirements, with specific considerations related to HOA financial health, community stability, and shared ownership structures. Some lenders may have specific requirements for condominium financing, including HOA financial health requirements and community stability standards.

Insurance requirements for condominiums typically include both individual unit policies (HO-6) and master association policies, creating a more complex insurance structure that requires careful coordination.

Decision Framework

Choose Single-Family Home If:

✓ You have kids or large dogs ✓ You want a yard ✓ You're handy or don't mind maintenance ✓ You value privacy ✓ You're staying 10+ years ✓ You can afford higher costs ✓ You want maximum control ✓ You want best appreciation

Choose Townhome If:

✓ You want low maintenance ✓ You want some outdoor space ✓ You're a first-time buyer ✓ You want urban location ✓ You're staying 5–10 years ✓ You want good value ✓ You want balance of space and convenience ✓ You have small family or pets

Choose Condo If:

✓ You want lowest maintenance ✓ You want urban lifestyle ✓ You travel frequently ✓ You want amenities ✓ You're single or couple ✓ You have limited budget ✓ You want walkability ✓ You don't need outdoor space

Seattle-Specific Considerations

Understanding Condo Terminology

Before diving into Seattle's market, it's important to understand the terminology around multi-unit housing:

Condo (Condominium):

• You own your unit
• You have a deed and can sell it
• You pay property taxes
• You can get a mortgage
• This is what we're discussing in this article

Apartment:

• You rent from a landlord
• No ownership or equity
• Landlord pays property taxes
• No mortgage needed
• Not a property purchase

Co-op (Cooperative):

• You own shares in a corporation, not the unit itself
• The corporation owns the building
• You have the right to occupy your unit
• Rare in Seattle (common in NYC)
• Different financing and rules

Key distinction: When buying property, you're looking at condos, not apartments or co-ops. Apartments are for renting, and co-ops are uncommon in the Seattle area.

Condo Market

Strong areas:

• Downtown Seattle
• Capitol Hill
• Belltown
• South Lake Union
• Bellevue downtown

Challenges:

• Many buildings non-warrantable
• High HOA fees ($500–800/month)
• Special assessments common
• Slower appreciation

Townhome Market

Growing areas:

• Columbia City
• Beacon Hill
• Renton
• Kent
• Bothell

Advantages:

• New construction common
• Good value
• Urban locations
• Growing demand

Single-Family Market

Competitive areas:

• All of Seattle proper
• Eastside (Bellevue, Redmond, Kirkland)
• North Seattle
• West Seattle

Reality:

• Most expensive option
• Limited inventory
• Highest competition
• Best long-term investment

Summary: Key Takeaways

• SFH: Most expensive, most space, most maintenance - best for families, long-term
• Townhome: Middle ground - balance of space, cost, and maintenance
• Condo: Least expensive, least space, least maintenance - best for urban lifestyle
• Monthly costs: SFH $6,000+, Townhome $5,500–6,000, Condo $4,500–5,500
• HOA fees: SFH $0, Townhome $200–400, Condo $400–800
• Appreciation: SFH best, Townhome good, Condo slowest
• Resale: SFH easiest, Townhome moderate, Condo harder

Next Steps

1. Determine your priorities - space, maintenance, location, cost
2. Calculate true monthly costs - include HOA, maintenance, utilities
3. Consider timeline - how long will you stay?
4. Visit each type - see what feels right
5. Review HOA documents - if considering townhome/condo
6. Compare neighborhoods - what can you afford in each type?
7. Make decision - based on lifestyle and finances

Related Articles

• HOA Documents: What to Check - Pre-offer HOA evaluation
• HOA Condo Resale Documents - Deep-dive contingency review
• Home Maintenance Plan - Budget for ongoing costs
• Neighborhood Research Guide - Evaluate locations
• New Construction vs Resale - Another key decision

This article provides general information about property types and should not be considered financial advice. Costs and appreciation vary by location and market conditions. Visit properties in person and review all documents before making decisions.