Belfair, WA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Belfair, WA Real Estate Data

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 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Belfair Housing Market Information

With 3,936 people, 1,167 houses or apartments, and a median cost of homes of $265,650, Belfair real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Belfair, accounting for 71.50% of the town's housing units. Other types of housing that are prevalent in Belfair include mobile homes or trailers ( 18.93%), large apartment complexes or high rise apartments ( 4.50%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.01%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Belfair. Owner-occupied housing accounts for 73.18% of Belfair's homes, and 49.54% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Belfair 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 Belfair built between 1940-1969 ( 14.36%). A lesser amount of the housing stock also hails from between 2000 and later ( 14.36%). There's also some housing in Belfair built before 1939 ( 8.52%).

Vacant housing appears to be an issue in Belfair. Fully 17.87% of the housing stock is classified as vacant. Left unchecked, vacant Belfair homes and apartments can be a drag on the real estate market, holding Belfair real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Belfair Home Appreciation Rates

Belfair's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Belfair during the period has been just -0.99%, which is lower than 70% of US communities.

Appreciation rates are so strong in Belfair that despite a nationwide downturn in the housing market, Belfair real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Belfair appreciation rates continue to be some of the highest in America, at 8.44%, which is higher than appreciation rates in 88.69% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Belfair. Belfair appreciation rates in the latest quarter were at 1.50%, which equates to an annual appreciation rate of 6.14%.

Relative to Washington, our data show that Belfair's latest annual appreciation rate is lower than 60% of the other cities and towns in Washington.

Average Home Values

 

Median Home Value:
$265,650

Belfair, WA HOME PRICES

Value Range
> $1,172,000 0.2
$878,001 - $1,172,000 1.6
$586,001 - $878,000 7.4
$469,001 - $586,000 11.1
$352,001 - $469,000 15.5
$234,001 - $352,000 19.4
$117,001 - $234,000 28.8
$59,001 - $117,000 10.8
$0 - $59,000 5.3

Average for WA
High for Nation

Value Relative to Nation Value Relative to State
20.3445447087777 51.063829787234

Number Of Homes And Apartments:
1,167

Belfair Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
WA*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
57.36% 2.66% 3 7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,156 / per month

Homeownership Rate

Homeownership
Owners 73.18
Renters 26.82
Vacant 17.87

Housing Market Details

 

Age of Homes

AGE OF Belfair HOMES
2000 or Newer 14.4
1970 - 1999 62.8
1940 - 1969 14.4
1939 or Older 8.5

Types of Homes

TYPE OF Belfair HOMES
Single-Family 71.5
Townhomes 1.1
Small Apt. Buildings 4.0
Apt. Complexes 4.5
Mobile Homes 18.9
Other 0.0

Home Size

SIZE OF Belfair HOMES
No Bedroom 0.00
1 Bedroom 20.83
2 Bedrooms 28.22
3 Bedrooms 45.88
4 Bedrooms 3.66
5 or more bedrooms 1.41

Popular Neighborhoods in Belfair

Zip Codes in Belfair, WA