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 | Kitsap County | Washington Avg | US Average |
|---|---|---|---|
| Median Home Price | $565,534 | $471,160 | $242,182 |
| Price Trend (Annual %) | 14.7% | 12.1% | 8.2% |
| Median Gross Rent | $1,740 | $1,681 | $1,342 |
| Rent Trend (Annual %) | 7.1% | 6.9% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Kitsap County is about 20% higher than in Washington. Rent is about 4% higher 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 Kitsap County, up about 14.7% and 7.1% a year respectively. Home prices are changing faster.
Median rent in Kitsap County rose about 67.0% between 2015 and 2023, from $1,042 to $1,740. Over the same span, rent in Washington rose about 65.7%.
Affordability
On average, housing unit costs 5.7 yearly household incomes in Kitsap County.
Buying the median-priced home in Kitsap County costs roughly 27.1 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 Kitsap County. The price-to-rent ratio in Washington is about 23.4.
| Metric | Kitsap County | Washington Avg | US Average |
|---|---|---|---|
| Median Home Price | $565,534 | $471,160 | $242,182 |
| Median Household Income | $98,480 | $95,177 | $78,145 |
| Price-to-Income Ratio | 5.7 | 5.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Kitsap County rose about 140.6%, while median household income rose about 64.6% 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 | Kitsap County | Washington Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 65.2% | 59.1% | 58.2% |
| Rental Rate | 27.8% | 33.4% | 31.3% |
| Vacancy Rate | 7.0% | 7.4% | 10.6% |
| Median Tenure (years) | 13.0 | 14.0 | 15.0 |
| Median Year Moved In | 2013 | 2012 | 2011 |
Kitsap County has a homeownership rate of 65.2%, higher than the Washington average of 59.1%. Its housing vacancy rate is 7.0%, compared with 7.4% in Washington.
Housing Stock
| Metric | Kitsap County | Washington Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.50 people | 2.51 people | 2.54 people |
| Median Structure Built Year | 1978 | 1982 | 1978 |
| Median Number of Rooms | 5.9 | 5.5 | 5.5 |
The typical housing unit in Kitsap County was built around 1978. On average, 2.5 people live in a home with about 5.9 rooms, staying for about 13.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Kitsap County, Washington.
What is the median home price in Kitsap County, Washington?
The median home price in Kitsap County, Washington is $565,534, higher than the Washington average of $471,160.
What is the average home price in Kitsap 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 Kitsap County, Washington?
The median gross rent in Kitsap County, Washington is $1,740 per month, higher than the Washington average of $1,681.
What was the median gross rent in Kitsap County in 2020?
In 2020, the median gross rent in Kitsap County, Washington was $1,349 per month.
What is the price-to-rent ratio in Kitsap County, Washington?
The price-to-rent ratio in Kitsap County, Washington is about 27.1, meaning it would take roughly 27.1 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 Kitsap County.
Are home prices or rent rising faster in Kitsap County, Washington?
Both home prices and rent are rising in Kitsap County, up about 14.7% and 7.1% a year respectively. Home prices are changing faster.
What is the homeownership rate in Kitsap County, Washington?
65.2% of households in Kitsap County, Washington own their home, higher than the Washington average of 59.1%.
What is the vacancy rate in Kitsap County, Washington?
The housing vacancy rate in Kitsap County, Washington is 7.0%, lower than the Washington average of 7.4%.