Castle Rock, WA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Castle Rock, WA Real Estate Data


Castle Rock Housing Market Information

With a population of 2,184, 1,025 total housing units (homes and apartments), and a median house value of $256,761, Castle Rock real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Castle Rock, accounting for 74.75% of the city's housing units. Other types of housing that are prevalent in Castle Rock include duplexes, homes converted to apartments or other small apartment buildings ( 8.78%), mobile homes or trailers ( 6.22%), and a few large apartment complexes or high rise apartments ( 6.22%).

The most prevalent building size and type in Castle Rock are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 60.39% owning and 39.61% renting.

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. Castle Rock's housing was primarily built during this period, from the '40s through the '60s. A full 35.22% of the city's housing hails from this era. Other housing ages represented in Castle Rock include homes built between 1970-1999 ( 32.11%) and housing constructed before 1939 ( 25.62%). There's also some housing in Castle Rock built between 2000 and later ( 7.04%).

Castle Rock Home Appreciation Rates

Appreciation rates for homes in Castle Rock have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 1.03%, which ranks in the top 50% nationwide. This equates to an annual average Castle Rock house appreciation rate of 0.10%.

Appreciation rates are so strong in Castle Rock that despite a nationwide downturn in the housing market, Castle Rock real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Castle Rock appreciation rates continue to be some of the highest in America, at 5.73%, which is higher than appreciation rates in 70.56% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Castle Rock. Castle Rock appreciation rates in the latest quarter were at 2.44%, which equates to an annual appreciation rate of 10.12%.

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

Average Home Values

 

Median Home Value:
$256,761

Castle Rock, WA HOME PRICES

Value Range
> $1,239,000 0.1
$930,001 - $1,239,000 0.0
$620,001 - $930,000 0.8
$496,001 - $620,000 4.8
$372,001 - $496,000 17.1
$248,001 - $372,000 21.9
$124,001 - $248,000 39.9
$62,001 - $124,000 13.9
$0 - $62,000 1.5

Average for WA
High for Nation

Value Relative to Nation Value Relative to State
21.334817766319 52.8368794326241

Number Of Homes And Apartments:
1,025

Rent & Ownership

 

Average Market Rent:
$946 / per month

Homeownership Rate

Homeownership
Owners 60.39
Renters 39.61
Vacant 6.22

Housing Market Details

 

Age of Homes

AGE OF Castle Rock HOMES
2000 or Newer 7.0
1970 - 1999 32.1
1940 - 1969 35.2
1939 or Older 25.6

Types of Homes

TYPE OF Castle Rock HOMES
Single-Family 74.7
Townhomes 2.3
Small Apt. Buildings 8.8
Apt. Complexes 6.2
Mobile Homes 6.2
Other 1.7

Home Size

SIZE OF Castle Rock HOMES
No Bedroom 1.74
1 Bedroom 14.73
2 Bedrooms 21.50
3 Bedrooms 40.81
4 Bedrooms 20.77
5 or more bedrooms 0.46

Castle Rock Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
WA*
Compared To
America*
Latest Quarter:
2016 Q3 - 2016 Q4
Last 12 Months:
2015 Q4 - 2016 Q4
Last 2 Years:
2014 Q4 - 2016 Q4
Last 5 Years:
2011 Q4 - 2016 Q4
Last 10 Years:
2006 Q4 - 2016 Q4
Since 2000:
2000 Q1 - 2016 Q4
50.24% 2.39% 2 6
* 10 is highest

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