Olympia, WA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Olympia, 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

Olympia Housing Market Information

With a population of 50,302, 20,870 total housing units (homes and apartments), and a median house value of $283,628, Olympia real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Olympia, accounting for 54.16% of the city's housing units. Other types of housing that are prevalent in Olympia include large apartment complexes or high rise apartments ( 27.43%), duplexes, homes converted to apartments or other small apartment buildings ( 9.93%), and a few row houses and other attached homes ( 5.18%).

People in Olympia primarily live in small (one, two or no bedroom) single-family detached homes. Olympia has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Olympia 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 Olympia built between 1940-1969 ( 21.28%). A lesser amount of the housing stock also hails from before 1939 ( 15.43%). There's also some housing in Olympia built between 2000 and later ( 14.51%).

Olympia Home Appreciation Rates

Real estate appreciation rates in Olympia's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.38% during the period.

Appreciation rates are so strong in Olympia that despite a nationwide downturn in the housing market, Olympia real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Olympia appreciation rates continue to be some of the highest in America, at 8.00%, which is higher than appreciation rates in 86.69% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Olympia. Olympia appreciation rates in the latest quarter were at 1.14%, which equates to an annual appreciation rate of 4.65%.

Relative to Washington, our data show that Olympia's latest annual appreciation rate is lower than 70% 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 Olympia differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Olympia - 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 Olympia real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$283,628

Olympia, WA HOME PRICES

Value Range
> $1,191,000 0.1
$893,001 - $1,191,000 0.7
$596,001 - $893,000 3.6
$476,001 - $596,000 4.1
$358,001 - $476,000 18.7
$238,001 - $358,000 39.7
$119,001 - $238,000 23.3
$59,001 - $119,000 1.6
$0 - $59,000 8.0

Average for WA
Very High for Nation

Value Relative to Nation Value Relative to State
18.076878003047 44.3262411347518

Number Of Homes And Apartments:
20,870

Olympia 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
74.14% 3.27% 6 9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,373 / per month

Homeownership Rate

Homeownership
Owners 46.46
Renters 53.54
Vacant 6.68

Housing Market Details

 

Age of Homes

AGE OF Olympia HOMES
2000 or Newer 14.5
1970 - 1999 48.8
1940 - 1969 21.3
1939 or Older 15.4

Types of Homes

TYPE OF Olympia HOMES
Single-Family 54.2
Townhomes 5.2
Small Apt. Buildings 9.9
Apt. Complexes 27.4
Mobile Homes 3.1
Other 0.2

Home Size

SIZE OF Olympia HOMES
No Bedroom 4.65
1 Bedroom 15.51
2 Bedrooms 32.83
3 Bedrooms 29.19
4 Bedrooms 15.09
5 or more bedrooms 2.73