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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.



Medical Lake, 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

Medical Lake, WA Housing Market Trends

With a population of 5,016, 1,761 total housing units (homes and apartments), and a median house value of $363,967, Medical Lake real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Medical Lake, accounting for 64.31% of the city's housing units. Other types of housing that are prevalent in Medical Lake include large apartment complexes or high rise apartments ( 18.33%), duplexes, homes converted to apartments or other small apartment buildings ( 7.63%), and a few mobile homes or trailers ( 7.41%).

The most prevalent building size and type in Medical Lake are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 62.99% owning and 37.01% renting.

There is a lot of housing in Medical Lake 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 Medical Lake built between 2000 and later ( 24.82%). A lesser amount of the housing stock also hails from between 1940-1969 ( 20.01%). There's also some housing in Medical Lake built before 1939 ( 6.71%).

Medical Lake Home Appreciation Rates

In the last 10 years, Medical Lake has experienced some of the highest home appreciation rates of any community in the nation. Medical Lake real estate appreciated 125.20% over the last ten years, which is an average annual home appreciation rate of 8.46%, putting Medical Lake in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Medical Lake 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, Medical Lake appreciation rates have trailed the rest of the nation. In the last twelve months, Medical Lake's appreciation rate has been -0.84%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Medical Lake were at -0.62%, which equates to an annual appreciation rate of -2.44%.

Relative to Washington, our data show that Medical Lake's latest annual appreciation rate is lower than 80% of the other cities and towns in Washington.

Average Home Values

Median Home Value

$363,967

Medical Lake, WA Home Prices
> $1,276,000
$957,001 - $1,276,000
$638,001 - $957,000
$510,001 - $638,000
$383,001 - $510,000
$255,001 - $383,000
$128,001 - $255,000
$64,001 - $128,000
$0 - $64,000
2.2%
2.2%
2.6%
2.6%
10.4%
10.4%
8.1%
8.1%
22.3%
22.3%
40.3%
40.3%
11.1%
11.1%
0.1%
0.1%
2.9%
2.9%
0% 100.0%
% of Homes
Low

for Washington

High

for nation

Number of Homes And Apartments:

1,761

Medical Lake Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,001 / per month

Homeownership Rate

Owners
Renters
63.0%
63.0%
37.0%
37.0%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
4.8%
4.8%
95.2%
95.2%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
24.8%
24.8%
48.5%
48.5%
20.0%
20.0%
6.7%
6.7%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
64.3%
64.3%
2.3%
2.3%
7.6%
7.6%
18.3%
18.3%
7.4%
7.4%
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
0.0%
0.0%
12.4%
12.4%
22.9%
22.9%
43.3%
43.3%
14.8%
14.8%
6.5%
6.5%
0% 100.0%
% of Homes