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 2018. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2016 (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 33,288, 12,734 total housing units (homes and apartments), and a median house value of $375,369, 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 58.58% of the city's housing units. Other types of housing that are prevalent in University Place include large apartment complexes or high rise apartments ( 24.14%), duplexes, homes converted to apartments or other small apartment buildings ( 9.51%), and a few row houses and other attached homes ( 6.96%).

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 54.29% owning and 45.71% 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 ( 25.21%). A lesser amount of the housing stock also hails from between 2000 and later ( 11.01%). There's also some housing in University Place built before 1939 ( 2.84%).

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 9.66%, which ranks in the top 40% nationwide. This equates to an annual average University Place house appreciation rate of 0.93%.

Appreciation rates are so strong in University Place that despite a nationwide downturn in the housing market, University Place real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, University Place appreciation rates continue to be some of the highest in America, at 11.36%, which is higher than appreciation rates in 94.45% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in University Place. University Place appreciation rates in the latest quarter were at 1.98%, which equates to an annual appreciation rate of 8.17%.

Relative to Washington, our data show that University Place's latest annual appreciation rate is higher 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:
$375,369

University Place, WA HOME PRICES

Value Range
> $1,379,842 0.8
$1,034,819 - $1,379,842 1.6
$689,762 - $1,034,818 5.7
$551,800 - $689,761 9.5
$413,796 - $551,799 28.5
$275,967 - $413,795 37.8
$137,963 - $275,966 11.5
$69,074 - $137,962 1.0
$0 - $69,073 3.6

High for WA
Very High for Nation

Value Relative to Nation Value Relative to State
11.9357664233577 27.5618374558304

Number Of Homes And Apartments:
12,734

University Place Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
WA*
Compared To
America*
Latest Quarter:
2017 Q4 - 2018 Q1
Last 12 Months:
2017 Q1 - 2018 Q1
Last 2 Years:
2016 Q1 - 2018 Q1
Last 5 Years:
2013 Q1 - 2018 Q1
Last 10 Years:
2008 Q1 - 2018 Q1
Since 2000:
2000 Q1 - 2018 Q1
98.03% 3.81%
8
9
* 10 is highest


Rent & Ownership

 

Average Market Rent:
$1,898 / per month

Homeownership Rate

Homeownership
Owners 54.29
Renters 45.71
Vacant 4.76

Housing Market Details

 

Age of Homes

AGE OF University Place HOMES
2000 or Newer 11.0
1970 - 1999 60.9
1940 - 1969 25.2
1939 or Older 2.8

Types of Homes

TYPE OF University Place HOMES
Single-Family 58.6
Townhomes 7.0
Small Apt. Buildings 9.5
Apt. Complexes 24.1
Mobile Homes 0.8
Other 0.0

Home Size

SIZE OF University Place HOMES
No Bedroom 1.17
1 Bedroom 11.14
2 Bedrooms 28.72
3 Bedrooms 36.35
4 Bedrooms 18.47
5 or more bedrooms 4.15