Bellevue WA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Bellevue, 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 Q3 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

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

Bellevue Housing Market Information

With 148,164 people, 57,054 houses or apartments, and a median cost of homes of $963,140, 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 50.01% of the city's housing units. Other types of housing that are prevalent in Bellevue include large apartment complexes or high rise apartments ( 38.93%), duplexes, homes converted to apartments or other small apartment buildings ( 6.19%), and a few row houses and other attached homes ( 4.63%).

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 ( 31.15%). A lesser amount of the housing stock also hails from between 2000 and later ( 18.02%). There's also some housing in Bellevue built before 1939 ( 1.23%).

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 100.29% over the last ten years, which is an average annual home appreciation rate of 7.19%, 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 3.39%, 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 2.20%, which equates to an annual appreciation rate of 9.09%.

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:
$963,140

Bellevue, WA HOME PRICES

Value Range
> $1,315,000 24.6
$986,001 - $1,315,000 21.3
$657,001 - $986,000 27.4
$526,001 - $657,000 8.6
$395,001 - $526,000 7.9
$263,001 - $395,000 5.7
$131,001 - $263,000 2.7
$66,001 - $131,000 0.4
$0 - $66,000 1.4

Very High for WA
Very High for Nation

Value Relative to Nation Value Relative to State
1.48905109489051 2.12014134275618

Number Of Homes And Apartments:
57,054

Bellevue Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
WA*
Compared To
America*
Latest Quarter:
2020 Q2 - 2020 Q3
Last 12 Months:
2019 Q3 - 2020 Q3
Last 2 Years:
2018 Q3 - 2020 Q3
Last 5 Years:
2015 Q3 - 2020 Q3
Last 10 Years:
2010 Q3 - 2020 Q3
Since 2000:
2000 Q1 - 2020 Q3
204.52% 5.51%
10
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$3,328 / per month

Homeownership Rate

Homeownership
Owners 55.41
Renters 44.59
Vacant 7.39

Housing Market Details

 

Age of Homes

AGE OF Bellevue HOMES
2000 or Newer 18.0
1970 - 1999 49.6
1940 - 1969 31.2
1939 or Older 1.2

Types of Homes

TYPE OF Bellevue HOMES
Single-Family 50.0
Townhomes 4.6
Small Apt. Buildings 6.2
Apt. Complexes 38.9
Mobile Homes 0.1
Other 0.1

Home Size

SIZE OF Bellevue HOMES
No Bedroom 5.28
1 Bedroom 15.63
2 Bedrooms 25.44
3 Bedrooms 22.70
4 Bedrooms 22.37
5 or more bedrooms 8.57