Physician loans · Rent or buy near Seattle hospitals
Renting or Buying Near Seattle's Hospitals: Harborview, UW Medical Center and More
For a resident, fellow or new attending, renting or buying comes down to where the hospital is and how long the job will last. This page sets out the facts for each major hospital, then the math that decides whether buying pays off.
Brian Huie, a Principal Broker and Realtor with Compass in Seattle, has helped physicians buy homes here since 2018.
At a glance
- First HillHarborview, Swedish First Hill and Virginia Mason sit within about 0.4 mile of each other.
- Light railUW Medical Center Montlake is about 0.1 mile from a Link station; Overlake about 0.2 mile.
- Training lengthUW internal medicine is three years, general surgery five (seven on the research track) and neurological surgery seven.
- Selling costsWashington's excise tax on a $900,000 Seattle sale in 2026 is about $15,075, usually paid by the seller.
- Break-evenBuying pays off only when the stay is long enough to recover the costs of buying and selling.
By Brian Huie, Principal Broker and Realtor, Compass · Figures as of November 2026
Seattle hospitals: addresses and transit
UW Medicine trains over 1,350 residents and fellows a year at four primary sites: an academic medical center, a Level 1 trauma center, a children's hospital and a VA hospital. Distances below are straight-line, not walking routes.
| Hospital | Address | Nearest station | Bus service |
|---|---|---|---|
| UW Medical Center Montlake | 1959 NE Pacific St, Seattle 98195 | University of Washington Station (1 Line, 2 Line), about 0.1 mi | Many Metro lines; free shuttle to Harborview |
| UW Medical Center Northwest | 1550 N 115th St, Seattle 98133 | Northgate Station (1 Line, 2 Line), about 0.9 mi | Metro 345, to the main tower |
| Harborview Medical Center | 325 9th Ave, Seattle 98104 | Capitol Hill Station, about 1 mi; streetcar at Broadway & Terrace | Metro 3, 4 and 60 |
| Swedish First Hill | 747 Broadway, Seattle 98122 | Capitol Hill Station, about 0.6 mi; streetcar at Broadway & Marion | Not listed by the hospital |
| Virginia Mason Medical Center | 1100 9th Ave, Seattle 98101 | Capitol Hill Station, about 0.7 mi | Not listed by the hospital |
| Seattle Children's | 4800 Sand Point Way NE, Seattle 98105 | University of Washington Station, about 1.4 mi | Not listed by the hospital |
| VA Puget Sound, Seattle | 1660 S Columbian Way, Seattle 98108 | Beacon Hill Station (1 Line), about 1.2 mi | Metro 36 and 50 |
| Overlake Medical Center | 1035 116th Ave NE, Bellevue | Wilburton Station (2 Line), about 0.2 mi | RapidRide B Line at Wilburton Station |
| EvergreenHealth | 12040 NE 128th St, Kirkland 98034 | Totem Lake Transit Center, about 0.2 mi | Not listed by the hospital |
Addresses from each hospital's site; lines and routes from Sound Transit and the hospitals. Service changes, so check a commute in the Metro or Sound Transit trip planner.
Harborview and First Hill
Harborview, Swedish First Hill and Virginia Mason are about 0.3 to 0.4 mile apart. The First Hill Streetcar links Capitol Hill Station with Chinatown-International District Station, with stops serving Harborview and Swedish. Harborview is about 3 miles from both UW Medical Center Montlake and the VA, and UW Medical Center Montlake is about 1.5 miles from Seattle Children's.
Rent and home values near each campus
Zillow's figures for the ZIP code each hospital or station sits in. Average rent covers all bedroom counts and home types; typical value is the Zillow Home Value Index. One number per ZIP code is only a starting point.
| ZIP code | What sits there | Average rent (date) | Typical home value, Sept. 30, 2026 |
|---|---|---|---|
| 98104 | Harborview | $1,800 (June 4, 2026) | $529,302 |
| 98122 | Swedish First Hill | $1,963 (Oct. 5, 2026) | $794,534 |
| 98101 | Virginia Mason | $2,344 (Oct. 17, 2026) | Not shown |
| 98102 | Capitol Hill Station | $1,948 (Oct. 31, 2026) | $736,729 |
| 98105 | Seattle Children's | $1,827 (Mar. 28, 2026) | $1,121,900 |
| 98133 | UW Medical Center Northwest | $2,074 (Oct. 14, 2026) | $721,343 |
| 98108 | VA Puget Sound | $2,650 (Oct. 31, 2026) | $664,850 |
| 98144 | Beacon Hill Station | $2,077 (Oct. 31, 2026) | $750,104 |
| 98004 | Overlake (Bellevue) | $3,072 (Oct. 31, 2026) | $1,386,450 (Bellevue citywide) |
| 98034 | EvergreenHealth (Kirkland) | $2,843 (Oct. 18, 2026) | $1,154,450 (Kirkland citywide) |
Zillow rental pages, last-updated dates as shown. UW Medical Center Montlake's ZIP, 98195, is the university campus. Figures change monthly.
Citywide, Zillow put Seattle's average rent at $2,185 (October 31, 2026) and its typical value at $822,572 (September 30, 2026), down 1.8% in a year. Every typical value in the table was also lower than a year earlier.
UW residency: how long training lasts
Time in place is the biggest input in the rent-or-buy math, and training length sets it. UW program pages, November 2026:
- Internal medicine (categorical): three years.
- General surgery (categorical): five years, or seven on the research track.
- Neurological surgery: seven years.
A fellowship can add years, and the next job may be in another city. The main guide's note for residents covers the UW 2026-27 pay scale.
The cost of buying and selling
Buying and selling both cost money that renting does not. On a sale, Washington charges a real estate excise tax (REET). The seller usually pays it; if not, the buyer is responsible.
The state rate is graduated: each portion of the price is taxed at its own rate. Seattle, Bellevue and Kirkland each add a 0.50% local rate (DOR local rate table effective May 1, 2026).
| Portion of the selling price | State rate |
|---|---|
| Up to $525,000 | 1.10% |
| $525,000.01 to $1,525,000 | 1.28% |
| $1,525,000.01 to $3,025,000 | 2.75% |
| Over $3,025,000 | 3.00% |
In effect since January 1, 2023. From January 1, 2027 the same rates apply with higher thresholds: $551,000, $1,551,000 and $3,051,000.
Example, a $900,000 Seattle sale in 2026. State: $525,000 at 1.10% ($5,775) plus $375,000 at 1.28% ($4,800) is $10,575. Local: 0.50% of $900,000 is $4,500. Total REET: $15,075, about 1.7% of the price.
Excise tax is one line. A sale also carries brokerage, title and escrow costs, and a purchase has its own closing costs; both vary by home and lender. The main guide covers what zero down still leaves to pay.
Rent or buy: the break-even idea
Buying comes out ahead only once its one-time costs are recovered. The pieces:
- One-time costs: closing costs to buy, then excise tax and other costs to sell.
- Monthly costs: interest, property tax, insurance, HOA dues and upkeep, against rent.
- What builds up: principal paid down each month.
- Price change: up or down, unknown in advance; every value in the table above fell over the past year.
The longer the stay, the more months there are to spread the one-time costs across. That is why it often takes about five years to come out ahead, and why a three-year program and a seven-year one can point to different answers.
How a physician loan changes the cash side
A physician loan can shrink the cash needed to buy to closing costs and reserves, which makes buying during training possible. It does not change the selling costs. With little or nothing down there is little equity, so if prices are flat at the time of a move, selling costs may come from savings. Its rate can also differ from a conventional loan's, which changes the monthly side.
See how the down payment tiers work and the risks of borrowing nearly all of the price. How Brian weighs this with clients is in the client section of Brian's buyer's guide.
Questions about living near the hospital
How long is a UW residency?
It depends on the specialty. As published in November 2026, UW internal medicine is three years, general surgery five (seven on the research track) and neurological surgery seven. Fellowships add more.
Is there light rail to Harborview?
Not directly. Harborview is about a mile from Capitol Hill Station. The First Hill Streetcar links that station and Chinatown-International District Station with a stop serving Harborview, and Metro routes 3, 4 and 60 serve the hospital.
Should a resident buy or rent in Seattle?
It turns on how long the stay will be. Buying and selling carry one-time costs, including Washington's excise tax on the sale, and a shorter stay leaves fewer months to recover them.
Who pays the real estate excise tax in Washington?
Usually the seller. If the seller does not pay it, the buyer is responsible. In Seattle, a $900,000 sale in 2026 carries about $15,075 in combined state and local excise tax.
Does a physician loan make buying during residency a better deal?
It makes buying easier, not cheaper. It lowers the cash needed up front, but selling costs stay the same and may come from savings if prices are flat at the time of a move.
Next steps
The full picture lives in the main guide: who qualifies, how the terms work and how physician loans compare. When it is time to talk through a specific purchase, Brian is a quick call away.
- The physician loan guide
- Brian's buyer's guide, including the physician loan section for clients
- How Brian helps buyers
This page is general information, not a loan offer or financial advice. Brian Huie is a real estate broker, not a lender, and Brian is not paid by any lender. Confirm loan terms with a licensed loan officer. Figures as of November 2026.
Sources
- Hospitals: UW Medical Center Montlake, UW Medical Center Northwest, Harborview, Swedish First Hill, Virginia Mason, Seattle Children's, VA Puget Sound, Overlake, EvergreenHealth
- Transit: Sound Transit University of Washington, Northgate, Capitol Hill, Chinatown-International District, Beacon Hill and Wilburton stations; First Hill Streetcar stops; distances measured between addresses mapped on OpenStreetMap
- Rent: Zillow rental market pages for Seattle and ZIP codes 98104, 98122, 98101, 98102, 98105, 98133, 98125, 98108, 98144, 98004, 98034
- Home values: Zillow Home Value Index for Seattle, 98104, 98122, 98102, 98105, 98133, 98108, 98144, Bellevue, Kirkland
- Residency: UW GME, UW internal medicine, UW general surgery, UW neurological surgery
- Excise tax: Washington DOR real estate excise tax, DOR local rates from May 1, 2026