Walla Walla, WA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Walla Walla Neighborhoods Since 2000




Walla Walla, 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 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

Walla Walla Housing Market Information

With 32,237 people, 11,462 houses or apartments, and a median cost of homes of $227,181, Walla Walla real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Walla Walla, accounting for 63.49% of the city's housing units. Other types of housing that are prevalent in Walla Walla include large apartment complexes or high rise apartments ( 19.51%), duplexes, homes converted to apartments or other small apartment buildings ( 8.21%), and a few mobile homes or trailers ( 5.73%).

People in Walla Walla primarily live in small (one, two or no bedroom) single-family detached homes. Walla Walla has a mixture of owner-occupied and renter-occupied housing.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Walla Walla's housing was primarily built during this period, from the '40s through the '60s. A full 37.55% of the city's housing hails from this era. Other housing ages represented in Walla Walla include homes built between 1970-1999 ( 30.28%) and housing constructed before 1939 ( 24.17%). There's also some housing in Walla Walla built between 2000 and later ( 8.00%).

Walla Walla Home Appreciation Rates

Appreciation rates for homes in Walla Walla have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 9.44%, which ranks in the top 30% nationwide. This equates to an annual average Walla Walla house appreciation rate of 0.91%.

Appreciation rates are so strong in Walla Walla that despite a nationwide downturn in the housing market, Walla Walla real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Walla Walla appreciation rates continue to be some of the highest in America, at 7.01%, which is higher than appreciation rates in 81.42% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Walla Walla. Walla Walla appreciation rates in the latest quarter were at 1.29%, which equates to an annual appreciation rate of 5.27%.

Relative to Washington, our data show that Walla Walla'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 Walla Walla differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Walla Walla - 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 Walla Walla real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$227,181

Walla Walla, WA HOME PRICES

Value Range
> $1,159,000 0.2
$869,001 - $1,159,000 0.8
$579,001 - $869,000 2.0
$463,001 - $579,000 4.3
$348,001 - $463,000 7.9
$232,001 - $348,000 24.9
$116,001 - $232,000 41.7
$58,001 - $116,000 10.2
$0 - $58,000 7.9

Low for WA
High for Nation

Value Relative to Nation Value Relative to State
26.3213406773702 62.7659574468085

Number Of Homes And Apartments:
11,462

Walla Walla Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
WA*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
85.17% 3.64% 8 9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$956 / per month

Homeownership Rate

Homeownership
Owners 49.24
Renters 50.76
Vacant 9.17

Housing Market Details

 

Age of Homes

AGE OF Walla Walla HOMES
2000 or Newer 8.0
1970 - 1999 30.3
1940 - 1969 37.6
1939 or Older 24.2

Types of Homes

TYPE OF Walla Walla HOMES
Single-Family 63.5
Townhomes 3.1
Small Apt. Buildings 8.2
Apt. Complexes 19.5
Mobile Homes 5.7
Other 0.0

Home Size

SIZE OF Walla Walla HOMES
No Bedroom 5.02
1 Bedroom 14.54
2 Bedrooms 33.63
3 Bedrooms 29.77
4 Bedrooms 12.64
5 or more bedrooms 4.40