Bremerton, WA Real Estate Market

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 Q4 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

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

Bremerton, WA Housing Market Trends

With a population of 41,405, 16,733 total housing units (homes and apartments), and a median house value of $340,134, Bremerton real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Bremerton, accounting for 49.82% of the city's housing units. Other types of housing that are prevalent in Bremerton include large apartment complexes or high rise apartments ( 27.58%), duplexes, homes converted to apartments or other small apartment buildings ( 12.34%), and a few row houses and other attached homes ( 8.68%).

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

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Bremerton's housing was primarily built during this period, from the '40s through the '60s. A full 35.13% of the city's housing hails from this era. Other housing ages represented in Bremerton include homes built between 1970-1999 ( 33.86%) and housing constructed before 1939 ( 20.56%). There's also some housing in Bremerton built between 2000 and later ( 10.45%).

Bremerton Home Appreciation Rates

In the last 10 years, Bremerton has experienced some of the highest home appreciation rates of any community in the nation. Bremerton real estate appreciated 78.09% over the last ten years, which is an average annual home appreciation rate of 5.94%, putting Bremerton in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Bremerton 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 Bremerton that despite a nationwide downturn in the housing market, Bremerton real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Bremerton appreciation rates continue to be some of the highest in America, at 9.47%, which is higher than appreciation rates in 98.18% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Bremerton. Bremerton appreciation rates in the latest quarter were at 2.97%, which equates to an annual appreciation rate of 12.42%.

Importantly, this makes Bremerton 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 Bremerton'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 Bremerton differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Bremerton - 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 Bremerton real estate investment or home purchase decisions.

Average Home Values

 
info

Median Home Value:
$340,134

Bremerton, WA HOME PRICES

> $1,399,000
0.3%
0.3%
$1,049,001 - $1,399,000
0.6%
0.6%
$699,001 - $1,049,000
3.5%
3.5%
$559,001 - $699,000
4.9%
4.9%
$420,001 - $559,000
19.5%
19.5%
$280,001 - $420,000
33.5%
33.5%
$140,001 - $280,000
30.4%
30.4%
$70,001 - $140,000
5.1%
5.1%
$0 - $70,000
2.2%
2.2%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

Average for WA

Value Relative To Nation

Number Of Homes And Apartments:
16,733

Bremerton Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
WA*
Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
182.46% 5.07%
10
10
* 10 is highest

Rent & Ownership

 
info

Average Market Rent:
$1,512 / per month

Homeownership Rate

Owners
39.5%
39.5%
Renters
60.5%
60.5%
Vacant
9.5%
9.5%
0.0% 100.0%
% OF HOMES

Housing Market Details

 
info

Age of Homes

2000 or Newer
10.5%
10.5%
1970 - 1999
33.9%
33.9%
1940 - 1969
35.1%
35.1%
1939 or Older
20.6%
20.6%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
49.8%
49.8%
Townhomes
8.7%
8.7%
Small Apt. Buildings
12.3%
12.3%
Apt. Complexes
27.6%
27.6%
Mobile Homes
1.1%
1.1%
Other
0.5%
0.5%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
4.5%
4.5%
1 Bedroom
20.2%
20.2%
2 Bedrooms
33.5%
33.5%
3 Bedrooms
30.7%
30.7%
4 Bedrooms
8.7%
8.7%
5 or more bedrooms
2.4%
2.4%
0.0% 100.0%
% OF HOMES