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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With a population of 60,598, 23,389 total housing units (homes and apartments), and a median house value of $635,622, Redmond house prices are not only among the most expensive in Washington, Redmond real estate also is some of the most expensive in all of America.
Large apartment complexes or high rise apartments are the single most common housing type in Redmond, accounting for 41.96% of the city's housing units. Other types of housing that are prevalent in Redmond include single-family detached homes ( 40.65%), row houses and other attached homes ( 8.53%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 6.92%). Cities with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact cities that frequently have a downtown or other neighborhoods where amenities are within walking distance and a lot of street life can be seen.
People in Redmond primarily live in small (one, two or no bedroom) units, chiefly found in large apartment complexes or high rise apartments. Redmond has a mixture of owner-occupied and renter-occupied housing.
There is a lot of housing in Redmond 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 Redmond built between 2000 and later ( 24.22%). A lesser amount of the housing stock also hails from between 1940-1969 ( 12.84%).
In the last 10 years, Redmond has experienced some of the highest home appreciation rates of any community in the nation. Redmond real estate appreciated 29.62% over the last ten years, which is an average annual home appreciation rate of 2.63%, putting Redmond in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Redmond 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 Redmond that despite a nationwide downturn in the housing market, Redmond real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Redmond appreciation rates continue to be some of the highest in America, at 13.02%, which is higher than appreciation rates in 98.44% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Redmond. Redmond appreciation rates in the latest quarter were at 2.83%, which equates to an annual appreciation rate of 11.81%.
Importantly, NeighborhoodScout’s exclusive research found that Redmond's housing market shows one of the <a href="/blog/highest-appreciating-cities">top real estate appreciation rates in the U.S.A.</a> in the latest quarter, which may signal the city’s near-future real estate investment strength.
Relative to Washington, our data show that Redmond's latest annual appreciation rate is higher 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 Redmond differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Redmond - 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 Redmond real estate investment or home purchase decisions.
|$1,062,001 - $1,416,000||9.8|
|$708,001 - $1,062,000||35.9|
|$567,001 - $708,000||19.4|
|$425,001 - $567,000||14.0|
|$283,001 - $425,000||9.4|
|$142,001 - $283,000||4.3|
|$71,001 - $142,000||0.7|
|$0 - $71,000||2.5|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Redmond HOMES|
|2000 or Newer||24.2|
|1970 - 1999||62.5|
|1940 - 1969||12.8|
|1939 or Older||0.5|
|TYPE OF Redmond HOMES|
|Small Apt. Buildings||6.9|
|SIZE OF Redmond HOMES|
|5 or more bedrooms||5.62|