Othello, WA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Othello Neighborhoods Since 2000




Othello, 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

Othello Housing Market Information

With a population of 7,809, 2,188 total housing units (homes and apartments), and a median house value of $169,404, Othello real estate values are some of the lowest in Washington, although compared to real estate around the nation, Othello homes are still considered rather expensive.

Single-family detached homes are the single most common housing type in Othello, accounting for 66.83% of the city's housing units. Other types of housing that are prevalent in Othello include duplexes, homes converted to apartments or other small apartment buildings ( 13.87%), large apartment complexes or high rise apartments ( 12.22%), and a few mobile homes or trailers ( 3.70%).

The most prevalent building size and type in Othello are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 62.14% owning and 37.86% 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. Othello's housing was primarily built during this period, from the '40s through the '60s. A full 37.83% of the city's housing hails from this era. Other housing ages represented in Othello include homes built between 1970-1999 ( 37.09%) and housing constructed between 2000 and later ( 22.22%). There's also some housing in Othello built before 1939 ( 2.87%).

Othello Home Appreciation Rates

In the last 10 years, Othello has experienced some of the highest home appreciation rates of any community in the nation. Othello real estate appreciated 24.41% over the last ten years, which is an average annual home appreciation rate of 2.21%, putting Othello in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Othello definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Appreciation rates are so strong in Othello that despite a nationwide downturn in the housing market, Othello real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Othello appreciation rates continue to be some of the highest in America, at 8.05%, which is higher than appreciation rates in 86.97% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Othello. Othello appreciation rates in the latest quarter were at 1.50%, which equates to an annual appreciation rate of 6.14%.

Relative to Washington, our data show that Othello's latest annual appreciation rate is lower than 70% of the other cities and towns in Washington.

Average Home Values

 

Median Home Value:
$169,404

Othello, WA HOME PRICES

Value Range
> $1,172,000 0.0
$879,001 - $1,172,000 0.0
$587,001 - $879,000 0.0
$469,001 - $587,000 0.0
$352,001 - $469,000 2.7
$235,001 - $352,000 12.6
$117,001 - $235,000 72.1
$59,001 - $117,000 9.4
$0 - $59,000 3.2

Very Low for WA
Average for Nation

Value Relative to Nation Value Relative to State
41.8668697996015 83.6879432624114

Number Of Homes And Apartments:
2,188

Othello 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
74.13% 3.27% 6 9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$892 / per month

Homeownership Rate

Homeownership
Owners 62.14
Renters 37.86
Vacant 4.87

Housing Market Details

 

Age of Homes

AGE OF Othello HOMES
2000 or Newer 22.2
1970 - 1999 37.1
1940 - 1969 37.8
1939 or Older 2.9

Types of Homes

TYPE OF Othello HOMES
Single-Family 66.8
Townhomes 3.4
Small Apt. Buildings 13.9
Apt. Complexes 12.2
Mobile Homes 3.7
Other 0.0

Home Size

SIZE OF Othello HOMES
No Bedroom 2.96
1 Bedroom 10.09
2 Bedrooms 17.48
3 Bedrooms 51.83
4 Bedrooms 15.35
5 or more bedrooms 2.30

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Zip Codes in Othello, WA