Medical Lake, WA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Medical Lake, 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

Medical Lake Housing Market Information

With a population of 4,942, 1,732 total housing units (homes and apartments), and a median house value of $186,245, 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 61.13% of the city's housing units. Other types of housing that are prevalent in Medical Lake include duplexes, homes converted to apartments or other small apartment buildings ( 16.33%), large apartment complexes or high rise apartments ( 10.87%), and a few mobile homes or trailers ( 10.18%).

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 53.19% owning and 46.81% 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 ( 38.60%). A lesser amount of the housing stock also hails from between 1940-1969 ( 9.76%). There's also some housing in Medical Lake built before 1939 ( 2.17%).

Medical Lake Home Appreciation Rates

Real estate appreciation rates in Medical Lake's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.45% during the period.

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 2.58%, 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 0.21%, which equates to an annual appreciation rate of 0.83%.

Relative to Washington, our data show that Medical Lake's latest annual appreciation rate is lower than 90% of the other cities and towns in Washington.

Average Home Values

 

Median Home Value:
$186,245

Medical Lake, WA HOME PRICES

Value Range
> $1,095,000 1.1
$822,001 - $1,095,000 0.0
$548,001 - $822,000 3.4
$438,001 - $548,000 1.2
$329,001 - $438,000 5.6
$219,001 - $329,000 24.4
$109,001 - $219,000 51.6
$55,001 - $109,000 9.2
$0 - $55,000 3.3

Low for WA
High for Nation

Value Relative to Nation Value Relative to State
35.9281612562991 78.3687943262411

Number Of Homes And Apartments:
1,732

Medical Lake 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
51.03% 2.42% 2 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$807 / per month

Homeownership Rate

Homeownership
Owners 53.19
Renters 46.81
Vacant 8.17

Housing Market Details

 

Age of Homes

AGE OF Medical Lake HOMES
2000 or Newer 38.6
1970 - 1999 49.5
1940 - 1969 9.8
1939 or Older 2.2

Types of Homes

TYPE OF Medical Lake HOMES
Single-Family 61.1
Townhomes 1.5
Small Apt. Buildings 16.3
Apt. Complexes 10.9
Mobile Homes 10.2
Other 0.0

Home Size

SIZE OF Medical Lake HOMES
No Bedroom 2.70
1 Bedroom 7.64
2 Bedrooms 35.26
3 Bedrooms 31.50
4 Bedrooms 15.06
5 or more bedrooms 7.85

Popular Neighborhoods in Medical Lake

Zip Codes in Medical Lake, WA