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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Granite Falls, 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 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

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

Granite Falls, WA Housing Market Trends

With a population of 4,835, 1,694 total housing units (homes and apartments), and a median house value of $584,681, real estate costs in Granite Falls 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 Granite Falls, accounting for 80.38% of the city's housing units. Other types of housing that are prevalent in Granite Falls include large apartment complexes or high rise apartments ( 8.93%), duplexes, homes converted to apartments or other small apartment buildings ( 7.01%), and a few mobile homes or trailers ( 3.68%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Granite Falls. Owner-occupied housing accounts for 73.36% of Granite Falls's homes, and 65.54% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Granite Falls 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 Granite Falls built between 2000 and later ( 36.53%). A lesser amount of the housing stock also hails from before 1939 ( 11.94%). There's also some housing in Granite Falls built between 1940-1969 ( 4.57%).

Vacant housing appears to be an issue in Granite Falls. Fully 12.09% of the housing stock is classified as vacant. Left unchecked, vacant Granite Falls homes and apartments can be a drag on the real estate market, holding Granite Falls real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Granite Falls Home Appreciation Rates

In the last 10 years, Granite Falls has experienced some of the highest home appreciation rates of any community in the nation. Granite Falls real estate appreciated 127.45% over the last ten years, which is an average annual home appreciation rate of 8.56%, putting Granite Falls in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Granite Falls definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Over the last year, Granite Falls appreciation rates have trailed the rest of the nation. In the last twelve months, Granite Falls's appreciation rate has been -0.38%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Granite Falls were at -1.24%, which equates to an annual appreciation rate of -4.88%.

Notably, Granite Falls's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Washington, our data show that Granite Falls's latest annual appreciation rate is lower than 50% of the other cities and towns in Washington.

Average Home Values

Median Home Value

$584,681

Granite Falls, WA Home Prices
> $1,209,000
$907,001 - $1,209,000
$605,001 - $907,000
$484,001 - $605,000
$363,001 - $484,000
$242,001 - $363,000
$121,001 - $242,000
$60,001 - $121,000
$0 - $60,000
4.2%
4.2%
11.6%
11.6%
27.6%
27.6%
28.9%
28.9%
16.1%
16.1%
4.7%
4.7%
6.2%
6.2%
0.1%
0.1%
0.6%
0.6%
0% 100.0%
% of Homes
High

for Washington

Very High

for nation

Number of Homes And Apartments:

1,694

Granite Falls Appreciation Rates

Rent & Ownership

Average Market Rent:

$2,602 / per month

Homeownership Rate

Owners
Renters
73.4%
73.4%
26.6%
26.6%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
12.1%
12.1%
87.9%
87.9%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
36.5%
36.5%
47.0%
47.0%
4.6%
4.6%
11.9%
11.9%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
80.4%
80.4%
0.0%
0.0%
7.0%
7.0%
8.9%
8.9%
3.7%
3.7%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.6%
0.6%
9.9%
9.9%
14.3%
14.3%
44.9%
44.9%
20.6%
20.6%
9.7%
9.7%
0% 100.0%
% of Homes

Popular Neighborhoods in Granite Falls

Zip Codes in Granite Falls, WA