Cottage Lake, Washington Housing Market Prices
Cottage Lake 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 361% above the Washington median$2,234,034
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Median rent 48% above the Washington median$2,608
Housing Market Overview
| Metric | Cottage Lake | Washington Avg | US Average |
|---|---|---|---|
| Median Home Price | $2,234,034 | $485,016 | $248,835 |
| Price Trend (Annual %) | 19.2% | 10.9% | 7.5% |
| Median Gross Rent | $2,608 | $1,759 | $1,407 |
| Rent Trend (Annual %) | 5.8% | 6.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Cottage Lake is about 361% higher than in Washington. Rent is about 48% 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 Cottage Lake, up about 19.2% and 5.8% a year respectively. Home prices are changing faster.
Median rent in Cottage Lake rose about 79.2% between 2015 and 2024, from $1,455 to $2,608. Over the same span, rent in Washington rose about 73.4%.
Affordability
On average, housing unit costs 11.1 yearly household incomes in Cottage Lake.
Buying the median-priced home in Cottage Lake costs roughly 71.4 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 Cottage Lake. The price-to-rent ratio in Washington is about 23.0.
| Metric | Cottage Lake | Washington Avg | US Average |
|---|---|---|---|
| Median Home Price | $2,234,034 | $485,016 | $248,835 |
| Median Household Income | $200,961 | $98,224 | $80,455 |
| Price-to-Income Ratio | 11.1 | 4.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Cottage Lake rose about 246.1%, while median household income rose about 62.1% 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 | Cottage Lake | Washington Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 84.6% | 59.1% | 58.5% |
| Rental Rate | 12.2% | 33.6% | 31.2% |
| Vacancy Rate | 3.2% | 7.3% | 10.2% |
| Median Tenure (years) | 16.0 | 14.0 | 15.0 |
| Median Year Moved In | 2010 | 2012 | 2011 |
Cottage Lake has a homeownership rate of 84.6%, higher than the Washington average of 59.1%. Its housing vacancy rate is 3.2%, compared with 7.3% in Washington.
Housing Stock
| Metric | Cottage Lake | Washington Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.88 people | 2.50 people | 2.53 people |
| Median Structure Built Year | 1986 | 1983 | 1978 |
| Median Number of Rooms | 7.8 | 5.5 | 5.5 |
The typical housing unit in Cottage Lake was built around 1986. On average, 2.9 people live in a home with about 7.8 rooms, staying for about 16.0 years on average.
Cottage Lake, WA Housing Compared With Nearby Cities
How Cottage Lake, WA compares with the 2 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Cottage Lake, WA | 24,620 | $2,234,034 #1/3 | $2,608 #1/3 | 87.4% #1/3 |
| Redmond, WA | 71,994 | $656,083 | $2,400 | 43.1% |
| Union Hill-Novelty Hill, WA | 23,529 | $826,184 | $2,587 | 74.6% |
Frequently Asked Questions
Common questions about the housing market in Cottage Lake, Washington.
What is the median home price in Cottage Lake, Washington?
The median home price in Cottage Lake, Washington is $2,234,034, higher than the Washington average of $485,016.
What is the average home price in Cottage Lake, Washington?
The typical home price in Cottage Lake, Washington, reported as the median sale price, is $2,234,034. 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 Cottage Lake, Washington?
The median gross rent in Cottage Lake, Washington is $2,608 per month, higher than the Washington average of $1,759.
What was the median gross rent in Cottage Lake in 2020?
In 2020, the median gross rent in Cottage Lake, Washington was $2,045 per month.
What is the price-to-rent ratio in Cottage Lake, Washington?
The price-to-rent ratio in Cottage Lake, Washington is about 71.4, meaning it would take roughly 71.4 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 Cottage Lake.
Are home prices or rent rising faster in Cottage Lake, Washington?
Both home prices and rent are rising in Cottage Lake, up about 19.2% and 5.8% a year respectively. Home prices are changing faster.
What is the homeownership rate in Cottage Lake, Washington?
84.6% of households in Cottage Lake, Washington own their home, higher than the Washington average of 59.1%.
What is the vacancy rate in Cottage Lake, Washington?
The housing vacancy rate in Cottage Lake, Washington is 3.2%, lower than the Washington average of 7.3%.
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