Prosser, WA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Prosser, WA Real Estate Data


Prosser Housing Market Information

With a population of 5,869, 2,221 total housing units (homes and apartments), and a median house value of $173,940, Prosser real estate values are some of the lowest in Washington, although compared to real estate around the nation, Prosser homes are still considered rather expensive.

Single-family detached homes are the single most common housing type in Prosser, accounting for 62.19% of the city's housing units. Other types of housing that are prevalent in Prosser include large apartment complexes or high rise apartments ( 22.93%), mobile homes or trailers ( 11.13%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.66%).

The most prevalent building size and type in Prosser are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 56.56% owning and 43.44% 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. Prosser's housing was primarily built during this period, from the '40s through the '60s. A full 39.76% of the city's housing hails from this era. Other housing ages represented in Prosser include homes built between 1970-1999 ( 38.97%) and housing constructed between 2000 and later ( 10.76%). There's also some housing in Prosser built before 1939 ( 10.51%).

Prosser Home Appreciation Rates

In the last 10 years, Prosser has experienced some of the highest home appreciation rates of any community in the nation. Prosser real estate appreciated 23.77% over the last ten years, which is an average annual home appreciation rate of 2.16%, putting Prosser in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Prosser 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, Prosser's appreciation rate, at 5.08%, has been at or slightly above the national average. In the latest quarter, Prosser's appreciation rate has been 2.69%, which annualizes to a rate of 11.22%.

Importantly, this makes Prosser 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 Prosser's latest annual appreciation rate is lower than 80% of the other cities and towns in Washington.

Average Home Values

 

Median Home Value:
$173,940

Prosser, WA HOME PRICES

Value Range
> $1,182,000 0.0
$886,001 - $1,182,000 0.0
$591,001 - $886,000 3.6
$473,001 - $591,000 2.5
$354,001 - $473,000 4.0
$237,001 - $354,000 18.9
$118,001 - $237,000 45.4
$59,001 - $118,000 14.0
$0 - $59,000 11.7

Very Low for WA
Average for Nation

Value Relative to Nation Value Relative to State
41.3363002869356 83.6879432624114

Number Of Homes And Apartments:
2,221

Rent & Ownership

 

Average Market Rent:
$979 / per month

Homeownership Rate

Homeownership
Owners 56.56
Renters 43.44
Vacant 7.73

Housing Market Details

 

Age of Homes

AGE OF Prosser HOMES
2000 or Newer 10.8
1970 - 1999 39.0
1940 - 1969 39.8
1939 or Older 10.5

Types of Homes

TYPE OF Prosser HOMES
Single-Family 62.2
Townhomes 1.1
Small Apt. Buildings 2.7
Apt. Complexes 22.9
Mobile Homes 11.1
Other 0.0

Home Size

SIZE OF Prosser HOMES
No Bedroom 4.28
1 Bedroom 4.99
2 Bedrooms 31.41
3 Bedrooms 48.40
4 Bedrooms 8.43
5 or more bedrooms 2.49

Prosser 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
61.95% 2.88% 5 8
* 10 is highest

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