Yakima appreciation rates and housing market information

Yakima housing market information

With 72,294 people, 28,743 houses or apartments, and a median cost of homes of $179,060, Yakima real estate values are some of the lowest in Washington, although compared to real estate around the nation, Yakima homes are still considered rather expensive.

single-family detached homes are the single most common housing type in Yakima, accounting for 56.51% of the city's housing units. Other types of housing that are prevalent in Yakima include large apartment complexes or high rise apartments (17.89%), duplexes, homes converted to apartments, or other small apartment buildings (14.53%), mobile homes or trailers (6.45%), and a few row houses and other attached homes (4.33%).

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

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Yakima's housing was primarily built during this period, from the '40s through the '60s. A full 44.05% of the city's housing hails from this era. Other housing ages represented in Yakima include homes built between 1970-1994 (34.42%), and housing constructed from 1939 and earlier (15.47%). There's also some housing in Yakima built between 1995 and later (6.06%).

Yakima home appreciation rates

Yakima's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Yakima during the period has been just 5.81%, which is lower than % of US communities.

Appreciation rates are so strong in Yakima that despite a nationwide downturn in the housing market, Yakima real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Yakima appreciation rates continue to be some of the highest in America, at 3.63%, which is higher than appreciation rates in 81% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Yakima. Yakima appreciation rates in the latest quarter were at 0.16%, which equates to an annual appreciation rate of 0.64%.

Relative to Washington, our data show that Yakima's latest annual appreciation rate is higher than 86% 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 Yakima differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Yakima - 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 1990, to assist you in making the best Yakima real estate investment or home purchase decisions.