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 | Grays Harbor County | Washington Avg | US Average |
|---|---|---|---|
| Median Home Price | $242,377 | $471,160 | $242,182 |
| Price Trend (Annual %) | 8.1% | 12.1% | 8.2% |
| Median Gross Rent | $1,017 | $1,681 | $1,342 |
| Rent Trend (Annual %) | 4.5% | 6.9% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Grays Harbor County is about 49% lower than in Washington. Rent is about 39% 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 Grays Harbor County, up about 8.1% and 4.5% a year respectively. Home prices are changing faster.
Median rent in Grays Harbor County rose about 39.7% between 2015 and 2023, from $728 to $1,017. Over the same span, rent in Washington rose about 65.7%.
Affordability
On average, housing unit costs 3.8 yearly household incomes in Grays Harbor County.
Buying the median-priced home in Grays Harbor County costs roughly 19.9 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Grays Harbor County. The price-to-rent ratio in Washington is about 23.4.
| Metric | Grays Harbor County | Washington Avg | US Average |
|---|---|---|---|
| Median Home Price | $242,377 | $471,160 | $242,182 |
| Median Household Income | $64,119 | $95,177 | $78,145 |
| Price-to-Income Ratio | 3.8 | 5.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Grays Harbor County rose about 49.7%, while median household income rose about 53.7% 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 | Grays Harbor County | Washington Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 59.5% | 59.1% | 58.2% |
| Rental Rate | 22.5% | 33.4% | 31.3% |
| Vacancy Rate | 18.0% | 7.4% | 10.6% |
| Median Tenure (years) | 15.0 | 14.0 | 15.0 |
| Median Year Moved In | 2011 | 2012 | 2011 |
Grays Harbor County has a homeownership rate of 59.5%, about the same as the Washington average of 59.1%. Its housing vacancy rate is 18.0%, compared with 7.4% in Washington.
Housing Stock
| Metric | Grays Harbor County | Washington Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.45 people | 2.51 people | 2.54 people |
| Median Structure Built Year | 1969 | 1982 | 1978 |
| Median Number of Rooms | 5.6 | 5.5 | 5.5 |
The typical housing unit in Grays Harbor County was built around 1969. On average, 2.5 people live in a home with about 5.6 rooms, staying for about 15.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Grays Harbor County, Washington.
What is the median home price in Grays Harbor County, Washington?
The median home price in Grays Harbor County, Washington is $242,377, lower than the Washington average of $471,160.
What is the average home price in Grays Harbor 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 Grays Harbor County, Washington?
The median gross rent in Grays Harbor County, Washington is $1,017 per month, lower than the Washington average of $1,681.
What was the median gross rent in Grays Harbor County in 2020?
In 2020, the median gross rent in Grays Harbor County, Washington was $828 per month.
What is the price-to-rent ratio in Grays Harbor County, Washington?
The price-to-rent ratio in Grays Harbor County, Washington is about 19.9, meaning it would take roughly 19.9 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Grays Harbor County.
Are home prices or rent rising faster in Grays Harbor County, Washington?
Both home prices and rent are rising in Grays Harbor County, up about 8.1% and 4.5% a year respectively. Home prices are changing faster.
What is the homeownership rate in Grays Harbor County, Washington?
59.5% of households in Grays Harbor County, Washington own their home, higher than the Washington average of 59.1%.
What is the vacancy rate in Grays Harbor County, Washington?
The housing vacancy rate in Grays Harbor County, Washington is 18.0%, higher than the Washington average of 7.4%.