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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Bellevue, WA Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Bellevue, WA Housing Market Trends

With a population of 152,767, 60,882 total housing units (homes and apartments), and a median house value of $1,271,327, Bellevue house prices are not only among the most expensive in Washington, Bellevue real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Bellevue, accounting for 48.09% of the city's housing units. Other types of housing that are prevalent in Bellevue include large apartment complexes or high rise apartments ( 40.94%), duplexes, homes converted to apartments or other small apartment buildings ( 5.61%), and a few row houses and other attached homes ( 5.25%).

People in Bellevue primarily live in small (one, two or no bedroom) single-family detached homes. Bellevue has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Bellevue built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Bellevue built between 1940-1969 ( 29.48%). A lesser amount of the housing stock also hails from between 2000 and later ( 24.49%). There's also some housing in Bellevue built before 1939 ( 1.07%).

Bellevue Home Appreciation Rates

In the last 10 years, Bellevue has experienced some of the highest home appreciation rates of any community in the nation. Bellevue real estate appreciated 116.90% over the last ten years, which is an average annual home appreciation rate of 8.05%, putting Bellevue in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Bellevue definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Over the last year, Bellevue appreciation rates have trailed the rest of the nation. In the last twelve months, Bellevue's appreciation rate has been -0.38%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Bellevue were at -1.24%, which equates to an annual appreciation rate of -4.88%.

Notably, Bellevue's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Washington, our data show that Bellevue's latest annual appreciation rate is higher than 50% of the other cities and towns in Washington.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Bellevue differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Bellevue - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Bellevue real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$1,271,327

Bellevue, WA Home Prices
> $1,142,000
$856,001 - $1,142,000
$571,001 - $856,000
$457,001 - $571,000
$342,001 - $457,000
$228,001 - $342,000
$114,001 - $228,000
$57,001 - $114,000
$0 - $57,000
58.6%
58.6%
19.4%
19.4%
10.2%
10.2%
5.3%
5.3%
3.1%
3.1%
1.1%
1.1%
1.0%
1.0%
0.4%
0.4%
0.8%
0.8%
0% 100.0%
% of Homes
Very High

for Washington

Very High

for nation

Number of Homes And Apartments:

60,882

Bellevue Appreciation Rates

Rent & Ownership

Average Market Rent:

$3,972 / per month

Homeownership Rate

Owners
Renters
51.1%
51.1%
48.9%
48.9%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
5.8%
5.8%
94.2%
94.2%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
24.5%
24.5%
45.0%
45.0%
29.5%
29.5%
1.1%
1.1%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
48.1%
48.1%
5.3%
5.3%
5.6%
5.6%
40.9%
40.9%
0.0%
0.0%
0.1%
0.1%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
7.2%
7.2%
15.9%
15.9%
24.4%
24.4%
21.5%
21.5%
22.3%
22.3%
8.7%
8.7%
0% 100.0%
% of Homes