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 Q1 2019. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2017 (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 144,444, 55,691 total housing units (homes and apartments), and a median house value of $885,841, 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 49.78% of the city's housing units. Other types of housing that are prevalent in Bellevue include large apartment complexes or high rise apartments ( 39.10%), duplexes, homes converted to apartments or other small apartment buildings ( 6.49%), and a few row houses and other attached homes ( 4.41%).

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 ( 31.67%). A lesser amount of the housing stock also hails from between 2000 and later ( 16.88%). There's also some housing in Bellevue built before 1939 ( 1.63%).

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 67.69% over the last ten years, which is an average annual home appreciation rate of 5.31%, 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.

NeighborhoodScout's data show that during the latest twelve months, Bellevue's appreciation rate, at 6.05%, has been at or slightly above the national average. In the latest quarter, Bellevue's appreciation rate has been -0.23%, which annualizes to a rate of -0.93%.

Relative to Washington, our data show that Bellevue's latest annual appreciation rate is lower than 60% 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:
$885,841

Bellevue, WA HOME PRICES

Value Range
> $1,418,000 20.1
$1,063,001 - $1,418,000 19.9
$709,001 - $1,063,000 29.7
$567,001 - $709,000 10.8
$425,001 - $567,000 9.8
$284,001 - $425,000 5.4
$142,001 - $284,000 2.5
$71,001 - $142,000 0.3
$0 - $71,000 1.5

Very High for WA
Very High for Nation

Value Relative to Nation Value Relative to State
1.71094890510949 2.12014134275618

Number Of Homes And Apartments:
55,691

Bellevue Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
WA*
Compared To
America*
Latest Quarter:
2018 Q4 - 2019 Q1
Last 12 Months:
2018 Q1 - 2019 Q1
Last 2 Years:
2017 Q1 - 2019 Q1
Last 5 Years:
2014 Q1 - 2019 Q1
Last 10 Years:
2009 Q1 - 2019 Q1
Since 2000:
2000 Q1 - 2019 Q1
197.65% 5.83%
10
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,771 / per month

Homeownership Rate

Homeownership
Owners 56.52
Renters 43.48
Vacant 7.40

Housing Market Details

 

Age of Homes

AGE OF Bellevue HOMES
2000 or Newer 16.9
1970 - 1999 49.8
1940 - 1969 31.7
1939 or Older 1.6

Types of Homes

TYPE OF Bellevue HOMES
Single-Family 49.8
Townhomes 4.4
Small Apt. Buildings 6.5
Apt. Complexes 39.1
Mobile Homes 0.2
Other 0.0

Home Size

SIZE OF Bellevue HOMES
No Bedroom 4.74
1 Bedroom 15.46
2 Bedrooms 26.74
3 Bedrooms 22.30
4 Bedrooms 21.99
5 or more bedrooms 8.77