Bainbridge Island, 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 Q1 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

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

Bainbridge Island, WA Housing Market Trends

With a population of 25,298, 10,115 total housing units (homes and apartments), and a median house value of $880,552, Bainbridge Island house prices are not only among the most expensive in Washington, Bainbridge Island 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 Bainbridge Island, accounting for 77.50% of the city's housing units. Other types of housing that are prevalent in Bainbridge Island include large apartment complexes or high rise apartments ( 12.78%), row houses and other attached homes ( 4.62%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.01%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Bainbridge Island. Owner-occupied housing accounts for 78.90% of Bainbridge Island's homes, and 63.33% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Bainbridge Island 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 Bainbridge Island built between 2000 and later ( 27.73%). A lesser amount of the housing stock also hails from between 1940-1969 ( 12.09%). There's also some housing in Bainbridge Island built before 1939 ( 9.06%).

Bainbridge Island Home Appreciation Rates

In the last 10 years, Bainbridge Island has experienced some of the highest home appreciation rates of any community in the nation. Bainbridge Island real estate appreciated 74.05% over the last ten years, which is an average annual home appreciation rate of 5.70%, putting Bainbridge Island in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Bainbridge Island 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, Bainbridge Island appreciation rates have trailed the rest of the nation. In the last twelve months, Bainbridge Island's appreciation rate has been 4.89%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Bainbridge Island were at 1.68%, which equates to an annual appreciation rate of 6.88%.

Relative to Washington, our data show that Bainbridge Island's latest annual appreciation rate is lower than 90% of the other cities and towns in Washington.

Average Home Values

 

Median Home Value:
$880,552

Bainbridge Island, WA HOME PRICES

> $1,222,000
20.5%
20.5%
$917,001 - $1,222,000
24.1%
24.1%
$611,001 - $917,000
31.2%
31.2%
$489,001 - $611,000
9.8%
9.8%
$367,001 - $489,000
8.3%
8.3%
$245,001 - $367,000
3.8%
3.8%
$122,001 - $245,000
1.2%
1.2%
$61,001 - $122,000
0.4%
0.4%
$0 - $61,000
0.6%
0.6%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

Very High for WA

Value Relative To Nation

Number Of Homes And Apartments:
10,115

Bainbridge Island Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
WA*
Compared To
America*
Latest Quarter:
2020 Q4 - 2021 Q1
Last 12 Months:
2020 Q1 - 2021 Q1
Last 2 Years:
2019 Q1 - 2021 Q1
Last 5 Years:
2016 Q1 - 2021 Q1
Last 10 Years:
2011 Q1 - 2021 Q1
Since 2000:
2000 Q1 - 2021 Q1
148.00% 4.37%
8
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,726 / per month

Homeownership Rate

Owners
78.9%
78.9%
Renters
21.1%
21.1%
Vacant
7.4%
7.4%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
27.7%
27.7%
1970 - 1999
51.1%
51.1%
1940 - 1969
12.1%
12.1%
1939 or Older
9.1%
9.1%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
77.5%
77.5%
Townhomes
4.6%
4.6%
Small Apt. Buildings
3.0%
3.0%
Apt. Complexes
12.8%
12.8%
Mobile Homes
2.1%
2.1%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1.8%
1.8%
1 Bedroom
7.8%
7.8%
2 Bedrooms
22.6%
22.6%
3 Bedrooms
41.5%
41.5%
4 Bedrooms
21.8%
21.8%
5 or more bedrooms
4.5%
4.5%
0.0% 100.0%
% OF HOMES