Pasco, WA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Pasco, WA Real Estate Data


Pasco Housing Market Information

With a population of 69,451, 19,055 total housing units (homes and apartments), and a median house value of $176,292, Pasco real estate values are some of the lowest in Washington, although compared to real estate around the nation, Pasco homes are still considered rather expensive.

Single-family detached homes are the single most common housing type in Pasco, accounting for 69.53% of the city's housing units. Other types of housing that are prevalent in Pasco include large apartment complexes or high rise apartments ( 13.66%), mobile homes or trailers ( 8.21%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 6.44%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Pasco. Owner-occupied housing accounts for 65.88% of Pasco's homes, and 64.25% have either three or four bedrooms, which is average sized relative to America.

Pasco homes and real estate are some of the newest in America. 41.99% of Pasco's housing was built since 2000, making the city have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Pasco real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 32.15%), and between 1940-1969 ( 21.15%). There's also some housing in Pasco built before 1939 ( 4.71%).

Pasco Home Appreciation Rates

In the last 10 years, Pasco has experienced some of the highest home appreciation rates of any community in the nation. Pasco real estate appreciated 18.42% over the last ten years, which is an average annual home appreciation rate of 1.70%, putting Pasco in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Pasco definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

NeighborhoodScout's data show that during the latest twelve months, Pasco's appreciation rate, at 5.62%, has been at or slightly above the national average. In the latest quarter, Pasco's appreciation rate has been 2.69%, which annualizes to a rate of 11.22%.

Importantly, this makes Pasco 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 Pasco's latest annual appreciation rate is lower than 80% 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 Pasco differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Pasco - 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 Pasco real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$176,292

Pasco, WA HOME PRICES

Value Range
> $1,168,000 0.3
$876,001 - $1,168,000 0.2
$584,001 - $876,000 0.9
$467,001 - $584,000 1.3
$351,001 - $467,000 3.8
$234,001 - $351,000 13.6
$117,001 - $234,000 57.6
$59,001 - $117,000 14.5
$0 - $59,000 7.8

Very Low for WA
Average for Nation

Value Relative to Nation Value Relative to State
40.5047725010248 82.9787234042553

Number Of Homes And Apartments:
19,055

Rent & Ownership

 

Average Market Rent:
$1,072 / per month

Homeownership Rate

Homeownership
Owners 65.88
Renters 34.12
Vacant 4.38

Housing Market Details

 

Age of Homes

AGE OF Pasco HOMES
2000 or Newer 42.0
1970 - 1999 32.1
1940 - 1969 21.2
1939 or Older 4.7

Types of Homes

TYPE OF Pasco HOMES
Single-Family 69.5
Townhomes 1.9
Small Apt. Buildings 6.4
Apt. Complexes 13.7
Mobile Homes 8.2
Other 0.2

Home Size

SIZE OF Pasco HOMES
No Bedroom 3.42
1 Bedroom 7.48
2 Bedrooms 20.04
3 Bedrooms 46.41
4 Bedrooms 17.84
5 or more bedrooms 4.80

Pasco 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
55.16% 2.62% 3 7
* 10 is highest