Mill Creek appreciation rates and housing market information

Mill Creek housing market information

With 11,444 people, 4,835 houses or apartments, and a median cost of homes of $612,889, Mill Creek house prices are not only among the most expensive in Washington, Mill Creek 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 Mill Creek, accounting for 54.08% of the city's housing units. Other types of housing that are prevalent in Mill Creek include large apartment complexes or high rise apartments (29.00%), row houses and other attached homes (12.70%), duplexes, homes converted to apartments, or other small apartment buildings (3.33%), and a few mobile homes or trailers (0.89%).

Owner-occupied, three and four bedroom single-family detached homes are the most prevalent type of housing you will see in Mill Creek. Owner-occupied housing accounts for 64.12% of Mill Creek's homes, and 55.05% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Mill Creek built from 1970-1994, 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 Mill Creek built from 1995 and later (20.72%). A lesser amount of the housing stock also hails from 1940-1969 (2.19%), and some were built from 1939 and earlier (2.19%).

Mill Creek home appreciation rates

Real estate appreciation rates in Mill Creek have tracked to near the national average over the last ten years, with the annual appreciation rate averaging 6.93% during the period.

Over the last year, Mill Creek appreciation rates have trailed the rest of the nation. In the last twelve months, Mill Creek's appreciation rate has been -9.17%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Mill Creek were at -2.41%, which equates to an annual appreciation rate of -9.64%.

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

Relative to Washington, our data show that Mill Creek's latest annual appreciation rate is higher than 2% of the other cities and towns in Washington.