Olympia, WA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Olympia Neighborhoods Since 2000




Olympia, WA Real Estate Data


Olympia Housing Market Information

With 50,302 people, 20,657 houses or apartments, and a median cost of homes of $276,719, 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 55.40% of the city's housing units. Other types of housing that are prevalent in Olympia include large apartment complexes or high rise apartments ( 26.84%), duplexes, homes converted to apartments or other small apartment buildings ( 9.24%), and a few row houses and other attached homes ( 4.81%).

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 ( 21.92%). A lesser amount of the housing stock also hails from before 1939 ( 15.66%). There's also some housing in Olympia built between 2000 and later ( 12.42%).

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 -0.42% 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 7.31%, which is higher than appreciation rates in 87.15% 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 2.85%, which equates to an annual appreciation rate of 11.88%.

Importantly, this makes Olympia 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 Olympia's latest annual appreciation rate is lower than 50% 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:
$276,719

Olympia, WA HOME PRICES

Value Range
> $1,161,000 0.1
$871,001 - $1,161,000 0.5
$581,001 - $871,000 3.3
$464,001 - $581,000 5.0
$348,001 - $464,000 18.2
$232,001 - $348,000 38.6
$116,001 - $232,000 23.6
$58,001 - $116,000 2.4
$0 - $58,000 8.2

Average for WA
Very High for Nation

Value Relative to Nation Value Relative to State
19.4296422088189 45.7446808510638

Number Of Homes And Apartments:
20,657

Rent & Ownership

 

Average Market Rent:
$1,400 / per month

Homeownership Rate

Homeownership
Owners 47.66
Renters 52.34
Vacant 7.40

Housing Market Details

 

Age of Homes

AGE OF Olympia HOMES
2000 or Newer 12.4
1970 - 1999 50.0
1940 - 1969 21.9
1939 or Older 15.7

Types of Homes

TYPE OF Olympia HOMES
Single-Family 55.4
Townhomes 4.8
Small Apt. Buildings 9.2
Apt. Complexes 26.8
Mobile Homes 3.5
Other 0.2

Home Size

SIZE OF Olympia HOMES
No Bedroom 5.05
1 Bedroom 16.13
2 Bedrooms 31.91
3 Bedrooms 29.92
4 Bedrooms 14.29
5 or more bedrooms 2.70

Olympia Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
WA*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
71.05% 3.21% 7 9
* 10 is highest