University Place, WA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating University Place Neighborhoods Since 2000




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 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

University Place Housing Market Information

With a population of 32,842, 12,779 total housing units (homes and apartments), and a median house value of $359,959, 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 57.45% of the city's housing units. Other types of housing that are prevalent in University Place include large apartment complexes or high rise apartments ( 23.86%), duplexes, homes converted to apartments or other small apartment buildings ( 11.68%), and a few row houses and other attached homes ( 6.18%).

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 53.53% owning and 46.47% 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 ( 25.19%). A lesser amount of the housing stock also hails from between 2000 and later ( 9.30%). There's also some housing in University Place built before 1939 ( 3.29%).

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 2.25%, which ranks in the top 50% nationwide. This equates to an annual average University Place house appreciation rate of 0.22%.

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 12.21%, which is higher than appreciation rates in 97.66% 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 5.61%, which equates to an annual appreciation rate of 24.42%.

Importantly, NeighborhoodScout’s exclusive research found that University Place's housing market shows one of the <a href="/blog/highest-appreciating-cities">top real estate appreciation rates in the U.S.A.</a> in the latest quarter, which may signal the city’s near-future real estate investment strength.

Relative to Washington, our data show that University Place's latest annual appreciation rate is higher than 60% 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:
$359,959

University Place, WA HOME PRICES

Value Range
> $1,365,000 0.2
$1,024,001 - $1,365,000 1.1
$682,001 - $1,024,000 5.9
$546,001 - $682,000 9.9
$409,001 - $546,000 24.5
$273,001 - $409,000 40.5
$136,001 - $273,000 13.2
$68,001 - $136,000 0.7
$0 - $68,000 4.1

High for WA
Very High for Nation

Value Relative to Nation Value Relative to State
12.1494232683412 26.5957446808511

Number Of Homes And Apartments:
12,779

University Place Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
WA*
Compared To
America*
Latest Quarter:
2017 Q1 - 2017 Q2
Last 12 Months:
2016 Q2 - 2017 Q2
Last 2 Years:
2015 Q2 - 2017 Q2
Last 5 Years:
2012 Q2 - 2017 Q2
Last 10 Years:
2007 Q2 - 2017 Q2
Since 2000:
2000 Q1 - 2017 Q2
87.65% 3.66% 8 9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,707 / per month

Homeownership Rate

Homeownership
Owners 53.53
Renters 46.47
Vacant 5.19

Housing Market Details

 

Age of Homes

AGE OF University Place HOMES
2000 or Newer 9.3
1970 - 1999 62.2
1940 - 1969 25.2
1939 or Older 3.3

Types of Homes

TYPE OF University Place HOMES
Single-Family 57.4
Townhomes 6.2
Small Apt. Buildings 11.7
Apt. Complexes 23.9
Mobile Homes 0.7
Other 0.1

Home Size

SIZE OF University Place HOMES
No Bedroom 1.90
1 Bedroom 12.26
2 Bedrooms 28.68
3 Bedrooms 35.73
4 Bedrooms 17.90
5 or more bedrooms 3.52