Lacey, Washington Housing Market Prices
Lacey 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 9% below the Washington median$443,044
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Median rent 3% above the Washington median$1,808
Housing Market Overview
| Metric | Lacey | Washington Avg | US Average |
|---|---|---|---|
| Median Home Price | $443,044 | $485,016 | $248,835 |
| Price Trend (Annual %) | 12.7% | 10.9% | 7.5% |
| Median Gross Rent | $1,808 | $1,759 | $1,407 |
| Rent Trend (Annual %) | 5.9% | 6.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Lacey is about 9% lower than in Washington. Rent is about 3% 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 Lacey, up about 12.7% and 5.9% a year respectively. Home prices are changing faster.
Median rent in Lacey rose about 65.8% between 2015 and 2024, from $1,090 to $1,808. Over the same span, rent in Washington rose about 73.4%.
Affordability
On average, housing unit costs 4.8 yearly household incomes in Lacey.
Buying the median-priced home in Lacey costs roughly 20.4 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 Lacey. The price-to-rent ratio in Washington is about 23.0.
| Metric | Lacey | Washington Avg | US Average |
|---|---|---|---|
| Median Home Price | $443,044 | $485,016 | $248,835 |
| Median Household Income | $91,612 | $98,224 | $80,455 |
| Price-to-Income Ratio | 4.8 | 4.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Lacey rose about 134.8%, while median household income rose about 55.1% 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 | Lacey | Washington Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 55.1% | 59.1% | 58.5% |
| Rental Rate | 40.4% | 33.6% | 31.2% |
| Vacancy Rate | 4.6% | 7.3% | 10.2% |
| Median Tenure (years) | 11.0 | 14.0 | 15.0 |
| Median Year Moved In | 2015 | 2012 | 2011 |
Lacey has a homeownership rate of 55.1%, lower than the Washington average of 59.1%. Its housing vacancy rate is 4.6%, compared with 7.3% in Washington.
Housing Stock
| Metric | Lacey | Washington Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.40 people | 2.50 people | 2.53 people |
| Median Structure Built Year | 1992 | 1983 | 1978 |
| Median Number of Rooms | 5.5 | 5.5 | 5.5 |
The typical housing unit in Lacey was built around 1992. On average, 2.4 people live in a home with about 5.5 rooms, staying for about 11.0 years on average.
Lacey, WA Housing Compared With Nearby Cities
How Lacey, WA compares with the 2 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Lacey, WA | 50,062 | $443,044 #3/3 | $1,808 #1/3 | 57.7% #1/3 |
| Olympia, WA | 51,739 | $460,751 | $1,612 | 49.9% |
| Tumwater, WA | 23,169 | $588,830 | $1,728 | 57.7% |
Frequently Asked Questions
Common questions about the housing market in Lacey, Washington.
What is the median home price in Lacey, Washington?
The median home price in Lacey, Washington is $443,044, lower than the Washington average of $485,016.
What is the average home price in Lacey, Washington?
The typical home price in Lacey, Washington, reported as the median sale price, is $443,044. 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 Lacey, Washington?
The median gross rent in Lacey, Washington is $1,808 per month, higher than the Washington average of $1,759.
What was the median gross rent in Lacey in 2020?
In 2020, the median gross rent in Lacey, Washington was $1,349 per month.
What is the price-to-rent ratio in Lacey, Washington?
The price-to-rent ratio in Lacey, Washington is about 20.4, meaning it would take roughly 20.4 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 Lacey.
Are home prices or rent rising faster in Lacey, Washington?
Both home prices and rent are rising in Lacey, up about 12.7% and 5.9% a year respectively. Home prices are changing faster.
What is the homeownership rate in Lacey, Washington?
55.1% of households in Lacey, Washington own their home, lower than the Washington average of 59.1%.
What is the vacancy rate in Lacey, Washington?
The housing vacancy rate in Lacey, Washington is 4.6%, lower than the Washington average of 7.3%.
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