You are making many improper assumptions. My case is not "median", the distribution of rents and prices are often not the same, and the relationship between rent and price can vary significantly between locations within Seattle at any particular point on those distributions.

The breakeven mortgage based on my rent by my best calculation would be around $700k, depending on a number of factors. For better or worse, places like I rent sell for much more than that. Having been looking at condos all over Seattle, the relationship between price and rent vary significantly by location.