Port Orchard WA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Port Orchard, 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 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Port Orchard Housing Market Information

With a population of 14,389, 4,880 total housing units (homes and apartments), and a median house value of $353,904, Port Orchard real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Port Orchard, accounting for 62.68% of the city's housing units. Other types of housing that are prevalent in Port Orchard include large apartment complexes or high rise apartments ( 18.50%), duplexes, homes converted to apartments or other small apartment buildings ( 8.95%), and a few row houses and other attached homes ( 5.81%).

The most prevalent building size and type in Port Orchard are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 56.12% owning and 43.88% renting.

There is a lot of housing in Port Orchard 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 Port Orchard built between 2000 and later ( 31.40%). A lesser amount of the housing stock also hails from between 1940-1969 ( 17.62%). There's also some housing in Port Orchard built before 1939 ( 8.76%).

Vacant housing appears to be an issue in Port Orchard. Fully 10.90% of the housing stock is classified as vacant. Left unchecked, vacant Port Orchard homes and apartments can be a drag on the real estate market, holding Port Orchard real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Port Orchard Home Appreciation Rates

In the last 10 years, Port Orchard has experienced some of the highest home appreciation rates of any community in the nation. Port Orchard real estate appreciated 56.02% over the last ten years, which is an average annual home appreciation rate of 4.55%, putting Port Orchard in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Port Orchard 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 Port Orchard that despite a nationwide downturn in the housing market, Port Orchard real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Port Orchard appreciation rates continue to be some of the highest in America, at 10.46%, which is higher than appreciation rates in 94.80% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Port Orchard. Port Orchard appreciation rates in the latest quarter were at 2.79%, which equates to an annual appreciation rate of 11.62%.

Importantly, this makes Port Orchard 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 Port Orchard's latest annual appreciation rate is higher than 90% 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 Port Orchard differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Port Orchard - 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 Port Orchard real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$353,904

Port Orchard, WA HOME PRICES

Value Range
> $1,416,000 0.1
$1,062,001 - $1,416,000 2.0
$708,001 - $1,062,000 2.5
$566,001 - $708,000 9.1
$425,001 - $566,000 23.0
$283,001 - $425,000 30.9
$142,001 - $283,000 23.1
$71,001 - $142,000 3.0
$0 - $71,000 6.3

Average for WA
Very High for Nation

Value Relative to Nation Value Relative to State
15.5445255474453 42.0494699646643

Number Of Homes And Apartments:
4,880

Port Orchard Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
WA*
Compared To
America*
Latest Quarter:
2019 Q4 - 2020 Q1
Last 12 Months:
2019 Q1 - 2020 Q1
Last 2 Years:
2018 Q1 - 2020 Q1
Last 5 Years:
2015 Q1 - 2020 Q1
Last 10 Years:
2010 Q1 - 2020 Q1
Since 2000:
2000 Q1 - 2020 Q1
145.19% 4.53%
9
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,486 / per month

Homeownership Rate

Homeownership
Owners 56.12
Renters 43.88
Vacant 10.90

Housing Market Details

 

Age of Homes

AGE OF Port Orchard HOMES
2000 or Newer 31.4
1970 - 1999 42.2
1940 - 1969 17.6
1939 or Older 8.8

Types of Homes

TYPE OF Port Orchard HOMES
Single-Family 62.7
Townhomes 5.8
Small Apt. Buildings 8.9
Apt. Complexes 18.5
Mobile Homes 4.1
Other 0.0

Home Size

SIZE OF Port Orchard HOMES
No Bedroom 4.49
1 Bedroom 8.51
2 Bedrooms 24.98
3 Bedrooms 41.23
4 Bedrooms 17.55
5 or more bedrooms 3.25