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 | Ferry County | Washington Avg | US Average |
|---|---|---|---|
| Median Home Price | $87,856 | $471,160 | $242,182 |
| Price Trend (Annual %) | 11.4% | 12.1% | 8.2% |
| Median Gross Rent | $703 | $1,681 | $1,342 |
| Rent Trend (Annual %) | 1.7% | 6.9% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Ferry County is about 81% lower than in Washington. Rent is about 58% 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 Ferry County, up about 11.4% and 1.7% a year respectively. Home prices are changing faster.
Median rent in Ferry County rose about 27.7% between 2015 and 2023, from $550 to $703. Over the same span, rent in Washington rose about 65.7%.
Affordability
On average, housing unit costs 1.6 yearly household incomes in Ferry County.
Buying the median-priced home in Ferry County costs roughly 10.4 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 Ferry County. The price-to-rent ratio in Washington is about 23.4.
| Metric | Ferry County | Washington Avg | US Average |
|---|---|---|---|
| Median Home Price | $87,856 | $471,160 | $242,182 |
| Median Household Income | $55,575 | $95,177 | $78,145 |
| Price-to-Income Ratio | 1.6 | 5.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Ferry County rose about 36.3%, while median household income rose about 53.6% between 2009 and 2023 — 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 | Ferry County | Washington Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 57.8% | 59.1% | 58.2% |
| Rental Rate | 18.6% | 33.4% | 31.3% |
| Vacancy Rate | 23.6% | 7.4% | 10.6% |
| Median Tenure (years) | 17.0 | 14.0 | 15.0 |
| Median Year Moved In | 2009 | 2012 | 2011 |
Ferry County has a homeownership rate of 57.8%, lower than the Washington average of 59.1%. Its housing vacancy rate is 23.6%, compared with 7.4% in Washington.
Housing Stock
| Metric | Ferry County | Washington Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.28 people | 2.51 people | 2.54 people |
| Median Structure Built Year | 1988 | 1982 | 1978 |
| Median Number of Rooms | 5.0 | 5.5 | 5.5 |
The typical housing unit in Ferry County was built around 1988. On average, 2.3 people live in a home with about 5.0 rooms, staying for about 17.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Ferry County, Washington.
What is the median home price in Ferry County, Washington?
The median home price in Ferry County, Washington is $87,856, lower than the Washington average of $471,160.
What is the average home price in Ferry 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 Ferry County, Washington?
The median gross rent in Ferry County, Washington is $703 per month, lower than the Washington average of $1,681.
What was the median gross rent in Ferry County in 2020?
In 2020, the median gross rent in Ferry County, Washington was $687 per month.
What is the price-to-rent ratio in Ferry County, Washington?
The price-to-rent ratio in Ferry County, Washington is about 10.4, meaning it would take roughly 10.4 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 Ferry County.
Are home prices or rent rising faster in Ferry County, Washington?
Both home prices and rent are rising in Ferry County, up about 11.4% and 1.7% a year respectively. Home prices are changing faster.
What is the homeownership rate in Ferry County, Washington?
57.8% of households in Ferry County, Washington own their home, lower than the Washington average of 59.1%.
What is the vacancy rate in Ferry County, Washington?
The housing vacancy rate in Ferry County, Washington is 23.6%, higher than the Washington average of 7.4%.