Benton City, WA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Benton City Neighborhoods Since 2000




Benton City, 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

Benton City Housing Market Information

With a population of 3,234, 1,133 total housing units (homes and apartments), and a median house value of $161,817, Benton City real estate values are some of the lowest in Washington, although compared to real estate around the nation, Benton City homes are still considered rather expensive.

Single-family detached homes are the single most common housing type in Benton City, accounting for 58.88% of the city's housing units. Other types of housing that are prevalent in Benton City include mobile homes or trailers ( 23.37%), duplexes, homes converted to apartments or other small apartment buildings ( 12.56%), and a few large apartment complexes or high rise apartments ( 2.68%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Benton City. Owner-occupied housing accounts for 72.82% of Benton City's homes, and 59.46% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Benton City 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 Benton City built between 1940-1969 ( 26.05%). A lesser amount of the housing stock also hails from between 2000 and later ( 15.66%). There's also some housing in Benton City built before 1939 ( 3.27%).

Benton City Home Appreciation Rates

In the last 10 years, Benton City has experienced some of the highest home appreciation rates of any community in the nation. Benton City real estate appreciated 35.51% over the last ten years, which is an average annual home appreciation rate of 3.09%, putting Benton City in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Benton City 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 Benton City that despite a nationwide downturn in the housing market, Benton City real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Benton City appreciation rates continue to be some of the highest in America, at 6.25%, which is higher than appreciation rates in 76.16% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Benton City. Benton City appreciation rates in the latest quarter were at 2.81%, which equates to an annual appreciation rate of 11.71%.

Importantly, this makes Benton City 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 Benton City's latest annual appreciation rate is lower than 80% of the other cities and towns in Washington.

Average Home Values

 

Median Home Value:
$161,817

Benton City, WA HOME PRICES

Value Range
> $1,190,000 0.4
$893,001 - $1,190,000 0.0
$595,001 - $893,000 0.0
$476,001 - $595,000 1.2
$357,001 - $476,000 3.1
$238,001 - $357,000 14.3
$119,001 - $238,000 54.3
$59,001 - $119,000 11.1
$0 - $59,000 15.6

Very Low for WA
Average for Nation

Value Relative to Nation Value Relative to State
44.8669869916794 87.2340425531915

Number Of Homes And Apartments:
1,133

Benton City 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
85.47% 3.65% 8 9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$900 / per month

Homeownership Rate

Homeownership
Owners 72.82
Renters 27.18
Vacant 5.11

Housing Market Details

 

Age of Homes

AGE OF Benton City HOMES
2000 or Newer 15.7
1970 - 1999 55.0
1940 - 1969 26.0
1939 or Older 3.3

Types of Homes

TYPE OF Benton City HOMES
Single-Family 58.9
Townhomes 1.1
Small Apt. Buildings 12.6
Apt. Complexes 2.7
Mobile Homes 23.4
Other 1.4

Home Size

SIZE OF Benton City HOMES
No Bedroom 6.11
1 Bedroom 5.61
2 Bedrooms 27.05
3 Bedrooms 47.57
4 Bedrooms 11.89
5 or more bedrooms 1.76

Popular Neighborhoods in Benton City

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Zip Codes in Benton City, WA