Housing Market Overview
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Chelan County | Washington Avg | US Average |
|---|---|---|---|
| Median Home Price | $432,278 | $471,160 | $242,182 |
| Price Trend (Annual %) | 25.4% | 12.1% | 8.2% |
| Median Gross Rent | $1,181 | $1,681 | $1,342 |
| Rent Trend (Annual %) | 5.9% | 6.9% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Chelan County is about 8% lower than in Washington. Rent is about 30% lower than the Washington average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Chelan County, up about 25.4% and 5.9% a year respectively. Home prices are changing faster.
Median rent in Chelan County rose about 50.1% between 2015 and 2023, from $787 to $1,181. Over the same span, rent in Washington rose about 65.7%.
Affordability
On average, housing unit costs 5.6 yearly household incomes in Chelan County.
Buying the median-priced home in Chelan County costs roughly 30.5 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 Chelan County. The price-to-rent ratio in Washington is about 23.4.
| Metric | Chelan County | Washington Avg | US Average |
|---|---|---|---|
| Median Home Price | $432,278 | $471,160 | $242,182 |
| Median Household Income | $77,238 | $95,177 | $78,145 |
| Price-to-Income Ratio | 5.6 | 5.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Chelan County rose about 128.1%, while median household income rose about 64.1% between 2009 and 2023 — 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 | Chelan County | Washington Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 51.2% | 59.1% | 58.2% |
| Rental Rate | 29.7% | 33.4% | 31.3% |
| Vacancy Rate | 19.2% | 7.4% | 10.6% |
| Median Tenure (years) | 14.0 | 14.0 | 15.0 |
| Median Year Moved In | 2012 | 2012 | 2011 |
Chelan County has a homeownership rate of 51.2%, lower than the Washington average of 59.1%. Its housing vacancy rate is 19.2%, compared with 7.4% in Washington.
Housing Stock
| Metric | Chelan County | Washington Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.52 people | 2.51 people | 2.54 people |
| Median Structure Built Year | 1981 | 1982 | 1978 |
| Median Number of Rooms | 5.2 | 5.5 | 5.5 |
The typical housing unit in Chelan County was built around 1981. On average, 2.5 people live in a home with about 5.2 rooms, staying for about 14.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Chelan County, Washington.
What is the median home price in Chelan County, Washington?
The median home price in Chelan County, Washington is $432,278, lower than the Washington average of $471,160.
What is the average home price in Chelan County, Washington?
The typical home price in %s, reported as the median sale price, is %s. 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 Chelan County, Washington?
The median gross rent in Chelan County, Washington is $1,181 per month, lower than the Washington average of $1,681.
What was the median gross rent in Chelan County in 2020?
In 2020, the median gross rent in Chelan County, Washington was $936 per month.
What is the price-to-rent ratio in Chelan County, Washington?
The price-to-rent ratio in Chelan County, Washington is about 30.5, meaning it would take roughly 30.5 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 Chelan County.
Are home prices or rent rising faster in Chelan County, Washington?
Both home prices and rent are rising in Chelan County, up about 25.4% and 5.9% a year respectively. Home prices are changing faster.
What is the homeownership rate in Chelan County, Washington?
51.2% of households in Chelan County, Washington own their home, lower than the Washington average of 59.1%.
What is the vacancy rate in Chelan County, Washington?
The housing vacancy rate in Chelan County, Washington is 19.2%, higher than the Washington average of 7.4%.