Bellevue, Washington Housing Market Prices
Bellevue Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 243% above the Washington median$1,665,806
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Median rent 45% above the Washington median$2,554
Housing Market Overview
| Metric | Bellevue | Washington Avg | US Average |
|---|---|---|---|
| Median Home Price | $1,665,806 | $485,016 | $248,835 |
| Price Trend (Annual %) | 18.3% | 10.9% | 7.5% |
| Median Gross Rent | $2,554 | $1,759 | $1,407 |
| Rent Trend (Annual %) | 5.9% | 6.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Bellevue is about 243% higher than in Washington. Rent is about 45% higher than the Washington average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Bellevue, up about 18.3% and 5.9% a year respectively. Home prices are changing faster.
Median rent in Bellevue rose about 68.0% between 2015 and 2024, from $1,520 to $2,554. Over the same span, rent in Washington rose about 73.4%.
Affordability
On average, housing unit costs 10.0 yearly household incomes in Bellevue.
Buying the median-priced home in Bellevue costs roughly 54.3 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Bellevue. The price-to-rent ratio in Washington is about 23.0.
| Metric | Bellevue | Washington Avg | US Average |
|---|---|---|---|
| Median Home Price | $1,665,806 | $485,016 | $248,835 |
| Median Household Income | $166,003 | $98,224 | $80,455 |
| Price-to-Income Ratio | 10.0 | 4.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Bellevue rose about 201.3%, while median household income rose about 92.9% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Bellevue | Washington Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 48.0% | 59.1% | 58.5% |
| Rental Rate | 45.8% | 33.6% | 31.2% |
| Vacancy Rate | 6.2% | 7.3% | 10.2% |
| Median Tenure (years) | 12.0 | 14.0 | 15.0 |
| Median Year Moved In | 2014 | 2012 | 2011 |
Bellevue has a homeownership rate of 48.0%, lower than the Washington average of 59.1%. Its housing vacancy rate is 6.2%, compared with 7.3% in Washington.
Housing Stock
| Metric | Bellevue | Washington Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.39 people | 2.50 people | 2.53 people |
| Median Structure Built Year | 1983 | 1983 | 1978 |
| Median Number of Rooms | 4.9 | 5.5 | 5.5 |
The typical housing unit in Bellevue was built around 1983. On average, 2.4 people live in a home with about 4.9 rooms, staying for about 12.0 years on average.
Bellevue, WA Housing Compared With Nearby Cities
How Bellevue, WA compares with the 1 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Bellevue, WA | 149,047 | $1,665,806 #2/2 | $2,554 #1/2 | 51.2% #2/2 |
| Mercer Island, WA | 25,053 | $2,062,203 | $2,502 | 66.8% |
Frequently Asked Questions
Common questions about the housing market in Bellevue, Washington.
What is the median home price in Bellevue, Washington?
The median home price in Bellevue, Washington is $1,665,806, higher than the Washington average of $485,016.
What is the average home price in Bellevue, Washington?
The typical home price in Bellevue, Washington, reported as the median sale price, is $1,665,806. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Bellevue, Washington?
The median gross rent in Bellevue, Washington is $2,554 per month, higher than the Washington average of $1,759.
What was the median gross rent in Bellevue in 2020?
In 2020, the median gross rent in Bellevue, Washington was $2,095 per month.
What is the price-to-rent ratio in Bellevue, Washington?
The price-to-rent ratio in Bellevue, Washington is about 54.3, meaning it would take roughly 54.3 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Bellevue.
Are home prices or rent rising faster in Bellevue, Washington?
Both home prices and rent are rising in Bellevue, up about 18.3% and 5.9% a year respectively. Home prices are changing faster.
What is the homeownership rate in Bellevue, Washington?
48.0% of households in Bellevue, Washington own their home, lower than the Washington average of 59.1%.
What is the vacancy rate in Bellevue, Washington?
The housing vacancy rate in Bellevue, Washington is 6.2%, lower than the Washington average of 7.3%.
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