University Place, WA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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University Place, 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 2019. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2017 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

University Place Housing Market Information

With a population of 33,401, 12,888 total housing units (homes and apartments), and a median house value of $414,496, real estate costs in University Place 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 University Place, accounting for 57.69% of the city's housing units. Other types of housing that are prevalent in University Place include large apartment complexes or high rise apartments ( 25.04%), row houses and other attached homes ( 8.23%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 7.81%).

The most prevalent building size and type in University Place are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 55.77% owning and 44.23% renting.

There is a lot of housing in University Place 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 University Place built between 1940-1969 ( 25.94%). A lesser amount of the housing stock also hails from between 2000 and later ( 12.13%). There's also some housing in University Place built before 1939 ( 3.03%).

University Place Home Appreciation Rates

Appreciation rates for homes in University Place have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 26.68%, which ranks in the top 30% nationwide. This equates to an annual average University Place house appreciation rate of 2.39%.

NeighborhoodScout's data show that during the latest twelve months, University Place's appreciation rate, at 4.38%, has been at or slightly above the national average. In the latest quarter, University Place's appreciation rate has been -0.23%, which annualizes to a rate of -0.93%.

Relative to Washington, our data show that University Place's latest annual appreciation rate is lower than 70% 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 University Place differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in University Place - 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 University Place real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$414,496

University Place, WA HOME PRICES

Value Range
> $1,339,000 1.1
$1,005,001 - $1,339,000 2.5
$670,001 - $1,005,000 9.2
$536,001 - $670,000 11.6
$402,001 - $536,000 31.8
$268,001 - $402,000 33.4
$134,001 - $268,000 7.1
$67,001 - $134,000 0.7
$0 - $67,000 2.6

High for WA
Very High for Nation

Value Relative to Nation Value Relative to State
10.3649635036496 24.3816254416961

Number Of Homes And Apartments:
12,888

University Place Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
WA*
Compared To
America*
Latest Quarter:
2018 Q4 - 2019 Q1
Last 12 Months:
2018 Q1 - 2019 Q1
Last 2 Years:
2017 Q1 - 2019 Q1
Last 5 Years:
2014 Q1 - 2019 Q1
Last 10 Years:
2009 Q1 - 2019 Q1
Since 2000:
2000 Q1 - 2019 Q1
109.73% 3.92%
7
9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,743 / per month

Homeownership Rate

Homeownership
Owners 55.77
Renters 44.23
Vacant 4.94

Housing Market Details

 

Age of Homes

AGE OF University Place HOMES
2000 or Newer 12.1
1970 - 1999 58.9
1940 - 1969 25.9
1939 or Older 3.0

Types of Homes

TYPE OF University Place HOMES
Single-Family 57.7
Townhomes 8.2
Small Apt. Buildings 7.8
Apt. Complexes 25.0
Mobile Homes 1.2
Other 0.0

Home Size

SIZE OF University Place HOMES
No Bedroom 1.34
1 Bedroom 11.26
2 Bedrooms 27.57
3 Bedrooms 35.76
4 Bedrooms 18.76
5 or more bedrooms 5.30