Bellevue, WA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Bellevue Neighborhoods Since 2000




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 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

Bellevue Housing Market Information

With a population of 139,820, 54,216 total housing units (homes and apartments), and a median house value of $728,227, 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 49.83% of the city's housing units. Other types of housing that are prevalent in Bellevue include large apartment complexes or high rise apartments ( 38.59%), duplexes, homes converted to apartments or other small apartment buildings ( 6.81%), and a few row houses and other attached homes ( 4.58%).

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 ( 32.04%). A lesser amount of the housing stock also hails from between 2000 and later ( 15.68%). There's also some housing in Bellevue built before 1939 ( 1.35%).

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 31.38% over the last ten years, which is an average annual home appreciation rate of 2.77%, 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.

Appreciation rates are so strong in Bellevue that despite a nationwide downturn in the housing market, Bellevue real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Bellevue appreciation rates continue to be some of the highest in America, at 12.83%, which is higher than appreciation rates in 98.29% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Bellevue. Bellevue appreciation rates in the latest quarter were at 2.83%, which equates to an annual appreciation rate of 11.81%.

Importantly, NeighborhoodScout’s exclusive research found that Bellevue's housing market shows one of the <a href="/blog/highest-appreciating-cities">top real estate appreciation rates in the U.S.A.</a> in the latest quarter, which 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 higher than 80% 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:
$728,227

Bellevue, WA HOME PRICES

Value Range
> $1,431,000 11.2
$1,073,001 - $1,431,000 13.5
$716,001 - $1,073,000 30.3
$572,001 - $716,000 14.7
$429,001 - $572,000 14.9
$286,001 - $429,000 8.9
$143,001 - $286,000 4.6
$72,001 - $143,000 0.6
$0 - $72,000 1.4

Very High for WA
Very High for Nation

Value Relative to Nation Value Relative to State
2.43759521856323 2.4822695035461

Number Of Homes And Apartments:
54,216

Bellevue 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
141.13% 5.23% 10 10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,331 / per month

Homeownership Rate

Homeownership
Owners 55.30
Renters 44.70
Vacant 6.87

Housing Market Details

 

Age of Homes

AGE OF Bellevue HOMES
2000 or Newer 15.7
1970 - 1999 50.9
1940 - 1969 32.0
1939 or Older 1.3

Types of Homes

TYPE OF Bellevue HOMES
Single-Family 49.8
Townhomes 4.6
Small Apt. Buildings 6.8
Apt. Complexes 38.6
Mobile Homes 0.2
Other 0.0

Home Size

SIZE OF Bellevue HOMES
No Bedroom 3.80
1 Bedroom 17.04
2 Bedrooms 25.75
3 Bedrooms 23.21
4 Bedrooms 22.13
5 or more bedrooms 8.07