Belfair, 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 2020. 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

Belfair, WA Housing Market Trends

With a population of 3,936, 1,745 total housing units (homes and apartments), and a median house value of $245,491, 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 70.64% of the town's housing units. Other types of housing that are prevalent in Belfair include mobile homes or trailers ( 19.34%), duplexes, homes converted to apartments or other small apartment buildings ( 5.09%), and a few large apartment complexes or high rise apartments ( 4.93%).

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 75.47% of Belfair's homes, and 56.28% 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 2000 and later ( 27.40%). A lesser amount of the housing stock also hails from between 1940-1969 ( 13.51%). There's also some housing in Belfair built before 1939 ( 2.12%).

Belfair Home Appreciation Rates

Appreciation rates for homes in Belfair have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 40.84%, which ranks in the top 40% nationwide. This equates to an annual average Belfair house appreciation rate of 3.48%.

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 7.81%, which is higher than appreciation rates in 95.01% 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 3.19%, which equates to an annual appreciation rate of 13.38%.

Importantly, this makes Belfair one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.

Relative to Washington, our data show that Belfair's latest annual appreciation rate is higher than 70% of the other cities and towns in Washington.

Average Home Values

 
info

Median Home Value:
$245,491

Belfair, WA HOME PRICES

> $1,176,000
0.0%
0.0%
$882,001 - $1,176,000
2.6%
2.6%
$588,001 - $882,000
6.2%
6.2%
$470,001 - $588,000
7.1%
7.1%
$353,001 - $470,000
12.1%
12.1%
$235,001 - $353,000
36.0%
36.0%
$118,001 - $235,000
26.5%
26.5%
$59,001 - $118,000
5.5%
5.5%
$0 - $59,000
4.0%
4.0%
0.0% 100.0%
% OF HOMES
Value Relative To State

High for Nation

Low for WA

Value Relative To Nation

Number Of Homes And Apartments:
1,745

Belfair Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
WA*
Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
106.75% 3.52%
2
8
* 10 is highest

Rent & Ownership

 
info

Average Market Rent:
$1,784 / per month

Homeownership Rate

Owners
75.5%
75.5%
Renters
24.5%
24.5%
Vacant
7.5%
7.5%
0.0% 100.0%
% OF HOMES

Housing Market Details

 
info

Age of Homes

2000 or Newer
27.4%
27.4%
1970 - 1999
57.0%
57.0%
1940 - 1969
13.5%
13.5%
1939 or Older
2.1%
2.1%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
70.6%
70.6%
Townhomes
0.0%
0.0%
Small Apt. Buildings
5.1%
5.1%
Apt. Complexes
4.9%
4.9%
Mobile Homes
19.3%
19.3%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
3.9%
3.9%
1 Bedroom
11.0%
11.0%
2 Bedrooms
28.9%
28.9%
3 Bedrooms
53.9%
53.9%
4 Bedrooms
2.3%
2.3%
5 or more bedrooms
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Popular Neighborhoods in Belfair

Zip Codes in Belfair, WA