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Washington: Value of owner occupied housing

These data come from the U.S. Census Bureau's American Community Survey. They are based on averages of data collected in 2017, 2018, 2019, 2020, and 2021. These estimates cannot be used to say what is going on in any particular year in the period, only what the average value is over the full period. The Census Bureau's data.census.gov also provides 1-year estimates for counties with at least 65,000 people. We use 5-year estimates because they are available for all counties and allow comparison to other counties within the region.
 
The value of owner occupied housing is the census respondent's estimate of how much the property (house and lot, mobile home and lot, or condominium unit) would sell for if it were for sale. The median value is the level at which half the housing units have a higher value and half have a lower value. Here, we present the real median value, which means the data have been adjusted for inflation.
The real median value of owner occupied housing in Washington from 2017-2021. . .
  • was $397,600 compared to $244,900 in the U.S.
  • increased by 99.2 percent from 1980 to 2017-2021
  • ranked 4th - from highest to lowest - out of 50 states.
 

To get the most out of this indicator . . .

 

Ask questions:

 

·         How do local housing values compare to those in neighboring counties or the state as a whole?

 

Look at other indicators:

 

·         “Housing: Housing affordability” – Is local housing affordable?

·         “Employment: Wage per job” – If local housing is relatively more expensive than state averages, are local wages also higher than state averages?

 

Dig deeper:

 

·         Look at the county rankings for your state and/or view maps to see how your county compares to others.

·         Contact your local county assessor or board of realtors to get more up-to-date figures on local housing values.

·         Take a Big Picture view of your county.

·         If you have specific questions, send us an e-mail.



Note: The Consumer Price Index (CPI) is a measure of inflation. Here we adjusted dollar values by the CPI-U, which is the most commonly used CPI. Using the CPI to put dollar values in “real” terms makes it easier to see “inflation-free” change over time. Our base year is 2021, which means all dollar values are in terms of 2021 dollars. For more information, see (https://www.bls.gov/cpi/home.htm) These ACS data are estimates based on a five-year average, meaning that data gathered from 2017, 2018, 2019, 2020, and 2021 are averaged together to come up with the results shown here. There is no problem with comparing these data to census data from 2000. For a technical discussion of the "margins of error" associated with ACS estimates, please see: (https://www.census.gov/programs-surveys/acs/library/handbooks/researchers.html)

Source: 1980, 1990: U.S. Bureau of the Census, Census of Population and Housing, (https://www.census.gov/programs-surveys/decennial-census/data/tables.1980.html);
2000, 2009-2020: U.S. Bureau of the Census, (https://data.census.gov/cedsci/advanced); DATE LAST UPDATED: April 26, 2023; CPI updated February 23, 2022.



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