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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With 20,989 people, 8,140 houses or apartments, and a median cost of homes of $381,903, real estate costs in Mountlake Terrace 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 Mountlake Terrace, accounting for 58.52% of the city's housing units. Other types of housing that are prevalent in Mountlake Terrace include large apartment complexes or high rise apartments ( 30.26%), duplexes, homes converted to apartments or other small apartment buildings ( 5.76%), and a few row houses and other attached homes ( 4.79%).
The most prevalent building size and type in Mountlake Terrace are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 58.52% owning and 41.48% renting.
At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Mountlake Terrace's housing was primarily built during this period, from the '40s through the '60s. A full 45.50% of the city's housing hails from this era. Other housing ages represented in Mountlake Terrace include homes built between 1970-1999 ( 44.43%) and housing constructed between 2000 and later ( 8.93%). There's also some housing in Mountlake Terrace built before 1939 ( 1.14%).
Appreciation rates for homes in Mountlake Terrace have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 14.03%, which ranks in the top 30% nationwide. This equates to an annual average Mountlake Terrace house appreciation rate of 1.32%.
Appreciation rates are so strong in Mountlake Terrace that despite a nationwide downturn in the housing market, Mountlake Terrace real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Mountlake Terrace appreciation rates continue to be some of the highest in America, at 13.42%, which is higher than appreciation rates in 98.75% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Mountlake Terrace. Mountlake Terrace appreciation rates in the latest quarter were at 2.83%, which equates to an annual appreciation rate of 11.81%.
Importantly, this makes Mountlake Terrace 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 Mountlake Terrace's latest annual appreciation rate is higher than 90% of the other cities and towns in Washington.
|$1,086,001 - $1,449,000||0.3|
|$724,001 - $1,086,000||1.7|
|$579,001 - $724,000||8.0|
|$435,001 - $579,000||24.1|
|$290,001 - $435,000||41.2|
|$145,001 - $290,000||20.0|
|$72,001 - $145,000||0.5|
|$0 - $72,000||3.8|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Mountlake Terrace HOMES|
|2000 or Newer||8.9|
|1970 - 1999||44.4|
|1940 - 1969||45.5|
|1939 or Older||1.1|
|TYPE OF Mountlake Terrace HOMES|
|Small Apt. Buildings||5.8|
|SIZE OF Mountlake Terrace HOMES|
|5 or more bedrooms||6.47|