Gig Harbor, WA


Highest Appreciating Gig Harbor Neighborhoods Since 2000

Gig Harbor, WA Real Estate Data

Gig Harbor Housing Market Information

With a population of 8,753, 3,420 total housing units (homes and apartments), and a median house value of $537,225, Gig Harbor house prices are not only among the most expensive in Washington, Gig Harbor 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 Gig Harbor, accounting for 50.76% of the city's housing units. Other types of housing that are prevalent in Gig Harbor include large apartment complexes or high rise apartments ( 23.96%), duplexes, homes converted to apartments or other small apartment buildings ( 13.24%), and a few row houses and other attached homes ( 6.08%).

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

There is a lot of housing in Gig Harbor 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 Gig Harbor built between 2000 and later ( 18.36%). A lesser amount of the housing stock also hails from between 1940-1969 ( 12.63%). There's also some housing in Gig Harbor built before 1939 ( 1.94%).

Gig Harbor Home Appreciation Rates

Real estate appreciation rates in Gig Harbor's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 0.25% during the period.

Appreciation rates are so strong in Gig Harbor that despite a nationwide downturn in the housing market, Gig Harbor real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Gig Harbor appreciation rates continue to be some of the highest in America, at 11.09%, which is higher than appreciation rates in 98.91% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Gig Harbor. Gig Harbor appreciation rates in the latest quarter were at 4.49%, which equates to an annual appreciation rate of 19.19%.

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

Average Home Values


Median Home Value:


Value Range
> $1,290,000 3.9
$967,001 - $1,290,000 9.7
$645,001 - $967,000 17.9
$516,001 - $645,000 17.7
$387,001 - $516,000 18.2
$258,001 - $387,000 20.6
$129,001 - $258,000 6.5
$64,001 - $129,000 0.8
$0 - $64,000 4.7

Very High for WA
Very High for Nation

Value Relative to Nation Value Relative to State
5.22339989459507 8.51063829787234

Number Of Homes And Apartments:

Rent & Ownership


Average Market Rent:
$1,783 / per month

Homeownership Rate

Owners 53.86
Renters 46.14
Vacant 9.26

Housing Market Details


Age of Homes

2000 or Newer 18.4
1970 - 1999 67.1
1940 - 1969 12.6
1939 or Older 1.9

Types of Homes

Single-Family 50.8
Townhomes 6.1
Small Apt. Buildings 13.2
Apt. Complexes 24.0
Mobile Homes 5.3
Other 0.7

Home Size

No Bedroom 3.61
1 Bedroom 11.62
2 Bedrooms 36.80
3 Bedrooms 34.78
4 Bedrooms 10.77
5 or more bedrooms 2.41

Gig Harbor Appreciation Rates

Time Period Total Appreciation Avg. Annual Rate Compared To
Compared To
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
92.99% 3.94% 10 10
* 10 is highest