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 33,401, 12,888 total housing units (homes and apartments), and a median house value of $417,408, 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%).
In the last 10 years, University Place has experienced some of the highest home appreciation rates of any community in the nation. University Place real estate appreciated 34.25% over the last ten years, which is an average annual home appreciation rate of 2.99%, putting University Place in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, University Place 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, University Place appreciation rates have trailed the rest of the nation. In the last twelve months, University Place's appreciation rate has been -0.30%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in University Place were at 0.25%, which equates to an annual appreciation rate of 1.01%.
Relative to Washington, our data show that University Place'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 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.
|$1,011,001 - $1,349,000||2.3|
|$674,001 - $1,011,000||9.1|
|$539,001 - $674,000||11.4|
|$404,001 - $539,000||31.4|
|$270,001 - $404,000||34.1|
|$135,001 - $270,000||7.4|
|$67,001 - $135,000||0.8|
|$0 - $67,000||2.6|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2019 Q1 - 2019 Q2
Last 12 Months:
2018 Q2 - 2019 Q2
Last 2 Years:
2017 Q2 - 2019 Q2
Last 5 Years:
2014 Q2 - 2019 Q2
Last 10 Years:
2009 Q2 - 2019 Q2
2000 Q1 - 2019 Q2
|* 10 is highest|
|AGE OF University Place HOMES|
|2000 or Newer||12.1|
|1970 - 1999||58.9|
|1940 - 1969||25.9|
|1939 or Older||3.0|
|TYPE OF University Place HOMES|
|Small Apt. Buildings||7.8|
|SIZE OF University Place HOMES|
|5 or more bedrooms||5.30|