Bellingham, WA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Bellingham, 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

Bellingham Housing Market Information

With a population of 85,146, 33,764 total housing units (homes and apartments), and a median house value of $356,698, real estate costs in Bellingham are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive Washington communities.

Single-family detached homes are the single most common housing type in Bellingham, accounting for 49.10% of the city's housing units. Other types of housing that are prevalent in Bellingham include large apartment complexes or high rise apartments ( 33.32%), duplexes, homes converted to apartments or other small apartment buildings ( 11.42%), and a few row houses and other attached homes ( 3.13%).

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

There is a lot of housing in Bellingham 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 Bellingham built before 1939 ( 20.05%). A lesser amount of the housing stock also hails from between 2000 and later ( 19.42%). There's also some housing in Bellingham built between 1940-1969 ( 15.56%).

Bellingham Home Appreciation Rates

In the last 10 years, Bellingham has experienced some of the highest home appreciation rates of any community in the nation. Bellingham real estate appreciated 14.98% over the last ten years, which is an average annual home appreciation rate of 1.41%, putting Bellingham in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Bellingham 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 Bellingham that despite a nationwide downturn in the housing market, Bellingham real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Bellingham appreciation rates continue to be some of the highest in America, at 12.10%, which is higher than appreciation rates in 97.55% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Bellingham. Bellingham appreciation rates in the latest quarter were at 2.39%, which equates to an annual appreciation rate of 9.91%.

Importantly, this makes Bellingham 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 Bellingham's latest annual appreciation rate is higher than 70% 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 Bellingham differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Bellingham - 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 Bellingham real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$356,698

Bellingham, WA HOME PRICES

Value Range
> $1,245,000 1.3
$934,001 - $1,245,000 2.6
$622,001 - $934,000 8.3
$498,001 - $622,000 9.1
$373,001 - $498,000 22.1
$249,001 - $373,000 35.6
$125,001 - $249,000 14.0
$62,001 - $125,000 2.4
$0 - $62,000 4.6

High for WA
Very High for Nation

Value Relative to Nation Value Relative to State
11.7133481776632 25.531914893617

Number Of Homes And Apartments:
33,764

Bellingham 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
121.27% 4.71% 10 10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,193 / per month

Homeownership Rate

Homeownership
Owners 43.39
Renters 56.61
Vacant 7.26

Housing Market Details

 

Age of Homes

AGE OF Bellingham HOMES
2000 or Newer 19.4
1970 - 1999 45.0
1940 - 1969 15.6
1939 or Older 20.0

Types of Homes

TYPE OF Bellingham HOMES
Single-Family 49.1
Townhomes 3.1
Small Apt. Buildings 11.4
Apt. Complexes 33.3
Mobile Homes 3.0
Other 0.0

Home Size

SIZE OF Bellingham HOMES
No Bedroom 5.61
1 Bedroom 15.28
2 Bedrooms 33.20
3 Bedrooms 30.49
4 Bedrooms 12.71
5 or more bedrooms 2.72