Kennewick, WA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Kennewick Neighborhoods Since 2000




Kennewick, 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

Kennewick Housing Market Information

With a population of 78,896, 27,457 total housing units (homes and apartments), and a median house value of $182,518, Kennewick real estate values are some of the lowest in Washington, although compared to real estate around the nation, Kennewick homes are still considered rather expensive.

Single-family detached homes are the single most common housing type in Kennewick, accounting for 57.61% of the city's housing units. Other types of housing that are prevalent in Kennewick include large apartment complexes or high rise apartments ( 21.66%), duplexes, homes converted to apartments or other small apartment buildings ( 10.66%), and a few mobile homes or trailers ( 7.52%).

The most prevalent building size and type in Kennewick are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 58.81% owning and 41.19% renting.

There is a lot of housing in Kennewick 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 Kennewick built between 1940-1969 ( 26.02%). A lesser amount of the housing stock also hails from between 2000 and later ( 18.05%). There's also some housing in Kennewick built before 1939 ( 1.96%).

Kennewick Home Appreciation Rates

In the last 10 years, Kennewick has experienced some of the highest home appreciation rates of any community in the nation. Kennewick real estate appreciated 30.51% over the last ten years, which is an average annual home appreciation rate of 2.70%, putting Kennewick in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Kennewick 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 Kennewick that despite a nationwide downturn in the housing market, Kennewick real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Kennewick appreciation rates continue to be some of the highest in America, at 10.37%, which is higher than appreciation rates in 94.77% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Kennewick. Kennewick appreciation rates in the latest quarter were at 2.81%, which equates to an annual appreciation rate of 11.71%.

Importantly, this makes Kennewick 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 Kennewick's latest annual appreciation rate is higher than 50% 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 Kennewick differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Kennewick - 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 Kennewick real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$182,518

Kennewick, WA HOME PRICES

Value Range
> $1,204,000 0.2
$903,001 - $1,204,000 0.3
$602,001 - $903,000 0.8
$482,001 - $602,000 1.5
$361,001 - $482,000 5.1
$241,001 - $361,000 19.6
$120,001 - $241,000 56.4
$60,001 - $120,000 10.7
$0 - $60,000 5.4

Low for WA
High for Nation

Value Relative to Nation Value Relative to State
37.2846595570139 80.1418439716312

Number Of Homes And Apartments:
27,457

Kennewick 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
67.22% 3.03% 5 8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,096 / per month

Homeownership Rate

Homeownership
Owners 58.81
Renters 41.19
Vacant 6.47

Housing Market Details

 

Age of Homes

AGE OF Kennewick HOMES
2000 or Newer 18.1
1970 - 1999 54.0
1940 - 1969 26.0
1939 or Older 2.0

Types of Homes

TYPE OF Kennewick HOMES
Single-Family 57.6
Townhomes 2.3
Small Apt. Buildings 10.7
Apt. Complexes 21.7
Mobile Homes 7.5
Other 0.2

Home Size

SIZE OF Kennewick HOMES
No Bedroom 2.09
1 Bedroom 11.08
2 Bedrooms 25.03
3 Bedrooms 41.02
4 Bedrooms 15.51
5 or more bedrooms 5.27