University Place WA

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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 Q2 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 $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%).

University Place Home Appreciation Rates

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.

Average Home Values


Median Home Value:

University Place, WA HOME PRICES

Value Range
> $1,349,000 0.9
$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

High for WA
Very High for Nation

Value Relative to Nation Value Relative to State
10.4583941605839 24.7349823321555

Number Of Homes And Apartments:

University Place Appreciation Rates

Time Period Total Appreciation Avg. Annual Rate Compared To
Compared To
Latest Quarter:
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
Since 2000:
2000 Q1 - 2019 Q2
111.20% 3.91%
* 10 is highest

Rent & Ownership


Average Market Rent:
$1,772 / per month

Homeownership Rate

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