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 about Scout's Real Estate Data
With a population of 76,354, 29,024 total housing units (homes and apartments), and a median house value of $1,081,223, 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.
Single-family detached homes are the single most common housing type in Redmond, accounting for 41.70% of the city's housing units. Other types of housing that are prevalent in Redmond include large apartment complexes or high rise apartments ( 39.57%), row houses and other attached homes ( 10.09%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 7.36%).
People in Redmond primarily live in small (one, two or no bedroom) single-family detached homes. 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 ( 33.40%). A lesser amount of the housing stock also hails from between 1940-1969 ( 10.64%). There's also some housing in Redmond built before 1939 ( 1.37%).
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 147.85% over the last ten years, which is an average annual home appreciation rate of 9.50%, 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.
Over the last year, Redmond appreciation rates have trailed the rest of the nation. In the last twelve months, Redmond's appreciation rate has been 6.59%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Redmond were at -4.59%, which equates to an annual appreciation rate of -17.15%.
Notably, Redmond's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Washington, our data show that Redmond'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 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.
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