FHFA House Price Index
1,020.1
2025 · FHFA all-transactions index
Median value of owner-occupied homes
$602,200
2024 · Census American Community Survey 1-year estimates
Rent of primary residence index (Seattle–Tacoma–Bellevue)
507.4
2025 · BLS CPI-U
Total housing units
3,400,980
2024 · Census American Community Survey 1-year estimates
New private housing units authorized
34,320
2025 · Census Building Permits Survey
Homeownership rate (CPS/HVS)
63.4%
2025 · Census Housing Vacancy Survey
Housing price level vs U.S. (RPP rents)
126
2024 · BEA Regional Price Parities
Rental vacancy rate
6.6%
2025 · Census Housing Vacancy Survey
Historical data
Pick an indicator to see its long-run evolution.
Median home value
1990–2024$605,000▲ 548%
Census / Zillow ZHVI, nominal dollars.
Home Prices
Sale prices and trends.
FHFA House Price Index
1,020.1
2025 · FHFA all-transactions index
Median sale price
$310,000
5-year change
+45%
FHFA House Price Index
1975–20251,020.1▲ 2025%
FHFA all-transactions index, annual average of quarters. Source: FHFA via FRED (WASTHPI).
| Indicator | Washington | U.S. |
|---|---|---|
| Median sale price (USD) | 310000 | 412000 |
- •Washington's for-sale inventory remains historically tight, keeping days on market short even after interest-rate hikes.
Median Home Value
Typical value of owner-occupied homes.
Median value of owner-occupied homes
$602,200
2024 · Census American Community Survey 1-year estimates
Median home value
$572,900
Rank
4th highest in the U.S.
Year-over-year
+3.1%
Median value of owner-occupied homes
2008–2024$602,200▲ 95%
Census American Community Survey 1-year estimates, B25077 (2020 not released).
| Indicator | Washington | U.S. |
|---|---|---|
| Median home value (USD) | 572900 | 340200 |
- •Only Hawaii, California and Massachusetts have higher median home values than Washington.
Rent Prices
Cost of renting.
Rent of primary residence index (Seattle–Tacoma–Bellevue)
507.4
2025 · BLS CPI-U
Median gross rent
$1,752
Rank
6th in the U.S.
Rent of primary residence index (Seattle–Tacoma–Bellevue)
2006–2025507.4▲ 131%
BLS CPI-U, Seattle–Tacoma–Bellevue, annual average (CUURS49DSEHA).
| Indicator | Washington | U.S. |
|---|---|---|
| Median gross rent (USD) | 1752 | 1406 |
- •Rents in Bellevue and Seattle regularly exceed $2,300 for a two-bedroom apartment.
Housing Inventory
Total housing stock.
Total housing units
3,400,980
2024 · Census American Community Survey 1-year estimates
Vacant housing units
6.8%
2024 · Census American Community Survey 1-year estimates
Single-family share
70%
Built since 2000
17%
Total housing units
2008–20243,400,980▲ 22%
Census American Community Survey 1-year estimates, B25001 (2020 not released).
Vacant housing units
2008–20246.8%
Census American Community Survey 1-year estimates, B25002 (2020 not released).
| Indicator | Washington | U.S. |
|---|---|---|
| Total housing units (M) | 2.8 | 145.3 |
- •Washington has more than 190,000 seasonal or vacation homes, mostly in the northern lake counties.
Building Permits
New residential construction.
New private housing units authorized
34,320
2025 · Census Building Permits Survey
Permits per 1,000
3.4
Trend
Below demand
New private housing units authorized
1988–202534,320▼ 21%
Census Building Permits Survey, sum of 12 months (FRED WABPPRIV).
| Indicator | Washington | U.S. |
|---|---|---|
| Permits per 1,000 residents | 3.4 | 4.4 |
- •Washington permits roughly 20,000 new homes a year, well short of its 1990s and 2000s pace.
Homeownership Rate
Share of owner-occupied homes.
Homeownership rate (CPS/HVS)
63.4%
2025 · Census Housing Vacancy Survey
Homeownership rate
63.0%
U.S. average
65.2%
Homeownership rate (CPS/HVS)
1984–202563.4%
Census Housing Vacancy Survey, annual (FRED WAHOWN).
| Indicator | Washington | U.S. |
|---|---|---|
| Homeownership rate (%) | 63.0 | 65.2 |
- •Washington's homeownership rate is below the national average, largely because of high prices in the Puget Sound region.
Housing Affordability
Home cost relative to income.
Housing price level vs U.S. (RPP rents)
126
2024 · BEA Regional Price Parities
Home value to income
6.1x
Cost-burdened renters
47%
Housing price level vs U.S. (RPP rents)
2008–2024126▲ 7%
BEA Regional Price Parities, housing services (SARPP line 3).
| Indicator | Washington | U.S. |
|---|---|---|
| Housing price level vs U.S. (RPP rents)2024, BEA Regional Price Parities | 126 | 100 |
| Home value to income ratio | 6.1 | 4.4 |
- •The 2023 Growth Management update pushed Washington cities to legalize duplexes and fourplexes statewide to close the housing gap.
Vacancy Rate
Share of unoccupied units.
Rental vacancy rate
6.6%
2025 · Census Housing Vacancy Survey
Homeowner vacancy rate
1.4%
2025 · Census Housing Vacancy Survey
Overall vacancy
12.5%
Rental vacancy
5.0%
Homeowner vacancy
0.8%
Rental vacancy rate
1986–20256.6%
Census Housing Vacancy Survey, annual (FRED WARVAC).
Homeowner vacancy rate
1986–20251.4%
Census Housing Vacancy Survey, annual (FRED WAHVAC).
| Indicator | Washington | U.S. |
|---|---|---|
| Overall vacancy rate (%) | 12.5 | 10.6 |
- •Washington's headline vacancy rate is inflated by cabins and lake cottages counted as vacant seasonal housing.
More figures
Median home value
$605,000
5th in the U.S.
Median monthly rent
$1,800
2023
Homeownership rate
64.1%
Total housing units
3.4 M
Vacancy rate
8.4%
Building permits
≈ 43,000
2023
Effective property tax
0.84%
Homes built before 1970
33%