Lake Stevens, WA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Lake Stevens, 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 Q2 2019. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2017 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Lake Stevens Housing Market Information

With a population of 32,785, 10,582 total housing units (homes and apartments), and a median house value of $426,815, real estate costs in Lake Stevens 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 Lake Stevens, accounting for 77.45% of the city's housing units. Other types of housing that are prevalent in Lake Stevens include duplexes, homes converted to apartments or other small apartment buildings ( 6.98%), row houses and other attached homes ( 6.63%), and a few large apartment complexes or high rise apartments ( 4.84%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Lake Stevens. Owner-occupied housing accounts for 72.96% of Lake Stevens's homes, and 78.00% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Lake Stevens 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 Lake Stevens built between 2000 and later ( 34.25%). A lesser amount of the housing stock also hails from between 1940-1969 ( 9.79%). There's also some housing in Lake Stevens built before 1939 ( 3.32%).

Lake Stevens Home Appreciation Rates

In the last 10 years, Lake Stevens has experienced some of the highest home appreciation rates of any community in the nation. Lake Stevens real estate appreciated 39.38% over the last ten years, which is an average annual home appreciation rate of 3.38%, putting Lake Stevens in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Lake Stevens 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, Lake Stevens appreciation rates have trailed the rest of the nation. In the last twelve months, Lake Stevens's appreciation rate has been -0.68%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Lake Stevens were at 0.25%, which equates to an annual appreciation rate of 1.01%.

Relative to Washington, our data show that Lake Stevens's latest annual appreciation rate is lower 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 Lake Stevens differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Lake Stevens - 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 Lake Stevens real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$426,815

Lake Stevens, WA HOME PRICES

Value Range
> $1,343,000 1.2
$1,008,001 - $1,343,000 2.5
$672,001 - $1,008,000 7.2
$537,001 - $672,000 10.3
$403,001 - $537,000 27.2
$269,001 - $403,000 37.8
$135,001 - $269,000 9.3
$67,001 - $135,000 1.8
$0 - $67,000 2.7

High for WA
Very High for Nation

Value Relative to Nation Value Relative to State
10.0204379562044 22.9681978798587

Number Of Homes And Apartments:
10,582

Lake Stevens Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
WA*
Compared To
America*
Latest Quarter:
2019 Q1 - 2019 Q2
Last 12 Months:
2018 Q2 - 2019 Q2
Last 2 Years:
2017 Q2 - 2019 Q2
Last 5 Years:
2014 Q2 - 2019 Q2
Last 10 Years:
2009 Q2 - 2019 Q2
Since 2000:
2000 Q1 - 2019 Q2
107.99% 3.83%
6
9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,378 / per month

Homeownership Rate

Homeownership
Owners 72.96
Renters 27.04
Vacant 4.13

Housing Market Details

 

Age of Homes

AGE OF Lake Stevens HOMES
2000 or Newer 34.3
1970 - 1999 52.6
1940 - 1969 9.8
1939 or Older 3.3

Types of Homes

TYPE OF Lake Stevens HOMES
Single-Family 77.5
Townhomes 6.6
Small Apt. Buildings 7.0
Apt. Complexes 4.8
Mobile Homes 4.1
Other 0.0

Home Size

SIZE OF Lake Stevens HOMES
No Bedroom 0.57
1 Bedroom 3.57
2 Bedrooms 12.29
3 Bedrooms 54.76
4 Bedrooms 23.25
5 or more bedrooms 5.56