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 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

Port Orchard Housing Market Information

With 13,607 people, 4,650 houses or apartments, and a median cost of homes of $274,839, 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 61.52% of the city's housing units. Other types of housing that are prevalent in Port Orchard include large apartment complexes or high rise apartments ( 21.45%), duplexes, homes converted to apartments or other small apartment buildings ( 9.68%), and a few row houses and other attached homes ( 5.12%).

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 55.19% owning and 44.81% 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 ( 26.03%). A lesser amount of the housing stock also hails from between 1940-1969 ( 15.91%). There's also some housing in Port Orchard built before 1939 ( 8.87%).

Vacant housing appears to be an issue in Port Orchard. Fully 14.10% 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

Real estate appreciation rates in Port Orchard's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.54% during the period.

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 15.73%, which is higher than appreciation rates in 99.52% 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 2.63%, which equates to an annual appreciation rate of 10.95%.

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:
$274,839

Port Orchard, WA HOME PRICES

Value Range
> $1,267,000 0.0
$950,001 - $1,267,000 2.6
$634,001 - $950,000 3.3
$507,001 - $634,000 3.4
$380,001 - $507,000 9.4
$253,001 - $380,000 42.1
$127,001 - $253,000 29.6
$63,001 - $127,000 4.3
$0 - $63,000 5.3

Average for WA
Very High for Nation

Value Relative to Nation Value Relative to State
19.0730106644791 46.8085106382979

Number Of Homes And Apartments:
4,650

Port Orchard 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
81.40% 3.51% 8 9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,275 / per month

Homeownership Rate

Homeownership
Owners 55.19
Renters 44.81
Vacant 14.10

Housing Market Details

 

Age of Homes

AGE OF Port Orchard HOMES
2000 or Newer 26.0
1970 - 1999 49.2
1940 - 1969 15.9
1939 or Older 8.9

Types of Homes

TYPE OF Port Orchard HOMES
Single-Family 61.5
Townhomes 5.1
Small Apt. Buildings 9.7
Apt. Complexes 21.4
Mobile Homes 2.2
Other 0.0

Home Size

SIZE OF Port Orchard HOMES
No Bedroom 5.76
1 Bedroom 9.37
2 Bedrooms 26.69
3 Bedrooms 42.53
4 Bedrooms 13.14
5 or more bedrooms 2.51