Bellevue, 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 Q2 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

Bellevue, WA Housing Market Trends

With 148,164 people, 58,107 houses or apartments, and a median cost of homes of $967,169, Bellevue house prices are not only among the most expensive in Washington, Bellevue 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 Bellevue, accounting for 49.39% of the city's housing units. Other types of housing that are prevalent in Bellevue include large apartment complexes or high rise apartments ( 39.62%), duplexes, homes converted to apartments or other small apartment buildings ( 6.30%), and a few row houses and other attached homes ( 4.49%).

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

There is a lot of housing in Bellevue 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 Bellevue built between 1940-1969 ( 30.99%). A lesser amount of the housing stock also hails from between 2000 and later ( 19.14%). There's also some housing in Bellevue built before 1939 ( 1.22%).

Bellevue Home Appreciation Rates

In the last 10 years, Bellevue has experienced some of the highest home appreciation rates of any community in the nation. Bellevue real estate appreciated 117.25% over the last ten years, which is an average annual home appreciation rate of 8.07%, putting Bellevue in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Bellevue 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, Bellevue appreciation rates have trailed the rest of the nation. In the last twelve months, Bellevue's appreciation rate has been 8.12%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Bellevue were at 3.71%, which equates to an annual appreciation rate of 15.69%.

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

Relative to Washington, our data show that Bellevue's latest annual appreciation rate is lower than 90% 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 Bellevue differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Bellevue - 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 2000, to assist you in making the best Bellevue real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$967,169

Bellevue, WA HOME PRICES

> $1,246,000
29.5%
29.5%
$934,001 - $1,246,000
23.5%
23.5%
$623,001 - $934,000
25.2%
25.2%
$498,001 - $623,000
7.3%
7.3%
$374,001 - $498,000
6.0%
6.0%
$249,001 - $374,000
5.1%
5.1%
$125,001 - $249,000
2.2%
2.2%
$62,001 - $125,000
0.3%
0.3%
$0 - $62,000
1.0%
1.0%
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:
58,107

Bellevue Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
WA*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
214.48% 5.47%
10
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$3,319 / per month

Homeownership Rate

Owners
53.6%
53.6%
Renters
46.4%
46.4%
Vacant
6.9%
6.9%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
19.1%
19.1%
1970 - 1999
48.7%
48.7%
1940 - 1969
31.0%
31.0%
1939 or Older
1.2%
1.2%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
49.4%
49.4%
Townhomes
4.5%
4.5%
Small Apt. Buildings
6.3%
6.3%
Apt. Complexes
39.6%
39.6%
Mobile Homes
0.1%
0.1%
Other
0.1%
0.1%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
5.9%
5.9%
1 Bedroom
15.6%
15.6%
2 Bedrooms
26.0%
26.0%
3 Bedrooms
22.0%
22.0%
4 Bedrooms
22.0%
22.0%
5 or more bedrooms
8.5%
8.5%
0.0% 100.0%
% OF HOMES