Bellingham, Washington Housing Market Prices
Bellingham 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 76% below the Washington median$118,266
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Median rent 11% below the Washington median$1,561
Housing Market Overview
| Metric | Bellingham | Washington Avg | US Average |
|---|---|---|---|
| Median Home Price | $118,266 | $485,016 | $248,835 |
| Price Trend (Annual %) | -10.6% | 10.9% | 7.5% |
| Median Gross Rent | $1,561 | $1,759 | $1,407 |
| Rent Trend (Annual %) | 7.0% | 6.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Bellingham is about 76% lower than in Washington. Rent is about 11% lower than the Washington average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Home prices and rent are moving in opposite directions in Bellingham: home prices fell about 10.6% a year while rent rose about 7.0% a year. That is an unusual pattern worth watching.
Median rent in Bellingham rose about 78.1% between 2015 and 2024, from $876 to $1,561. Over the same span, rent in Washington rose about 73.4%.
Affordability
On average, housing unit costs 1.8 yearly household incomes in Bellingham.
Buying the median-priced home in Bellingham costs roughly 6.3 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Bellingham. The price-to-rent ratio in Washington is about 23.0.
| Metric | Bellingham | Washington Avg | US Average |
|---|---|---|---|
| Median Home Price | $118,266 | $485,016 | $248,835 |
| Median Household Income | $65,233 | $98,224 | $80,455 |
| Price-to-Income Ratio | 1.8 | 4.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Bellingham fell about 57.0%, while median household income rose about 53.0% between 2009 and 2025 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Bellingham | Washington Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 40.5% | 59.1% | 58.5% |
| Rental Rate | 54.4% | 33.6% | 31.2% |
| Vacancy Rate | 5.2% | 7.3% | 10.2% |
| Median Tenure (years) | 10.0 | 14.0 | 15.0 |
| Median Year Moved In | 2016 | 2012 | 2011 |
Bellingham has a homeownership rate of 40.5%, lower than the Washington average of 59.1%. Its housing vacancy rate is 5.2%, compared with 7.3% in Washington.
Housing Stock
| Metric | Bellingham | Washington Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.18 people | 2.50 people | 2.53 people |
| Median Structure Built Year | 1982 | 1983 | 1978 |
| Median Number of Rooms | 4.6 | 5.5 | 5.5 |
The typical housing unit in Bellingham was built around 1982. On average, 2.2 people live in a home with about 4.6 rooms, staying for about 10.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Bellingham, Washington.
What is the median home price in Bellingham, Washington?
The median home price in Bellingham, Washington is $118,266, lower than the Washington average of $485,016.
What is the average home price in Bellingham, Washington?
The typical home price in Bellingham, Washington, reported as the median sale price, is $118,266. 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 Bellingham, Washington?
The median gross rent in Bellingham, Washington is $1,561 per month, lower than the Washington average of $1,759.
What was the median gross rent in Bellingham in 2020?
In 2020, the median gross rent in Bellingham, Washington was $1,125 per month.
What is the price-to-rent ratio in Bellingham, Washington?
The price-to-rent ratio in Bellingham, Washington is about 6.3, meaning it would take roughly 6.3 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Bellingham.
Are home prices or rent rising faster in Bellingham, Washington?
Home prices and rent are moving in opposite directions in Bellingham: home prices fell about 10.6% a year while rent rose about 7.0% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Bellingham, Washington?
40.5% of households in Bellingham, Washington own their home, lower than the Washington average of 59.1%.
What is the vacancy rate in Bellingham, Washington?
The housing vacancy rate in Bellingham, Washington is 5.2%, lower than the Washington average of 7.3%.
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