Snohomish, WA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Snohomish Neighborhoods Since 2000




Snohomish, 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

Snohomish Housing Market Information

With 9,670 people, 3,733 houses or apartments, and a median cost of homes of $386,114, real estate costs in Snohomish are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive Washington communities.

Single-family detached homes are the single most common housing type in Snohomish, accounting for 55.96% of the city's housing units. Other types of housing that are prevalent in Snohomish include large apartment complexes or high rise apartments ( 20.06%), duplexes, homes converted to apartments or other small apartment buildings ( 14.35%), and a few row houses and other attached homes ( 6.51%).

The most prevalent building size and type in Snohomish are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 53.38% owning and 46.62% renting.

There is a lot of housing in Snohomish 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 Snohomish built before 1939 ( 21.13%). A lesser amount of the housing stock also hails from between 1940-1969 ( 19.56%). There's also some housing in Snohomish built between 2000 and later ( 14.80%).

Snohomish Home Appreciation Rates

Appreciation rates for homes in Snohomish have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 2.18%, which ranks in the top 50% nationwide. This equates to an annual average Snohomish house appreciation rate of 0.22%.

Appreciation rates are so strong in Snohomish that despite a nationwide downturn in the housing market, Snohomish real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Snohomish appreciation rates continue to be some of the highest in America, at 9.80%, which is higher than appreciation rates in 93.27% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Snohomish. Snohomish appreciation rates in the latest quarter were at 2.83%, which equates to an annual appreciation rate of 11.81%.

Importantly, this makes Snohomish 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 Snohomish's latest annual appreciation rate is higher than 50% 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 Snohomish differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Snohomish - 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 Snohomish real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$386,114

Snohomish, WA HOME PRICES

Value Range
> $1,319,000 1.3
$989,001 - $1,319,000 1.1
$660,001 - $989,000 5.9
$527,001 - $660,000 6.5
$396,001 - $527,000 24.5
$264,001 - $396,000 34.2
$132,001 - $264,000 23.0
$66,001 - $132,000 0.6
$0 - $66,000 3.0

High for WA
Very High for Nation

Value Relative to Nation Value Relative to State
10.1019571076995 21.9858156028369

Number Of Homes And Apartments:
3,733

Snohomish 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
69.18% 3.10% 5 8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,518 / per month

Homeownership Rate

Homeownership
Owners 53.38
Renters 46.62
Vacant 6.86

Housing Market Details

 

Age of Homes

AGE OF Snohomish HOMES
2000 or Newer 14.8
1970 - 1999 44.5
1940 - 1969 19.6
1939 or Older 21.1

Types of Homes

TYPE OF Snohomish HOMES
Single-Family 56.0
Townhomes 6.5
Small Apt. Buildings 14.3
Apt. Complexes 20.1
Mobile Homes 2.9
Other 0.2

Home Size

SIZE OF Snohomish HOMES
No Bedroom 2.59
1 Bedroom 14.22
2 Bedrooms 30.71
3 Bedrooms 32.83
4 Bedrooms 15.04
5 or more bedrooms 4.59