Lake Stevens, Washington Housing Market Prices
Lake Stevens 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 6% below the Washington median$454,315
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Median rent 25% above the Washington median$2,204
Housing Market Overview
| Metric | Lake Stevens | Washington Avg | US Average |
|---|---|---|---|
| Median Home Price | $454,315 | $485,016 | $248,835 |
| Price Trend (Annual %) | 7.7% | 10.9% | 7.5% |
| Median Gross Rent | $2,204 | $1,759 | $1,407 |
| Rent Trend (Annual %) | 6.9% | 6.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Lake Stevens is about 6% lower than in Washington. Rent is about 25% 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 Lake Stevens, up about 7.7% and 6.9% a year respectively. Home prices are changing faster.
Median rent in Lake Stevens rose about 85.7% between 2015 and 2024, from $1,187 to $2,204. Over the same span, rent in Washington rose about 73.4%.
Affordability
On average, housing unit costs 3.8 yearly household incomes in Lake Stevens.
Buying the median-priced home in Lake Stevens costs roughly 17.2 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 Lake Stevens. The price-to-rent ratio in Washington is about 23.0.
| Metric | Lake Stevens | Washington Avg | US Average |
|---|---|---|---|
| Median Home Price | $454,315 | $485,016 | $248,835 |
| Median Household Income | $120,449 | $98,224 | $80,455 |
| Price-to-Income Ratio | 3.8 | 4.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Lake Stevens rose about 67.8%, while median household income rose about 59.6% 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 | Lake Stevens | Washington Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 73.2% | 59.1% | 58.5% |
| Rental Rate | 23.4% | 33.6% | 31.2% |
| Vacancy Rate | 3.4% | 7.3% | 10.2% |
| Median Tenure (years) | 11.0 | 14.0 | 15.0 |
| Median Year Moved In | 2015 | 2012 | 2011 |
Lake Stevens has a homeownership rate of 73.2%, higher than the Washington average of 59.1%. Its housing vacancy rate is 3.4%, compared with 7.3% in Washington.
Housing Stock
| Metric | Lake Stevens | Washington Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.89 people | 2.50 people | 2.53 people |
| Median Structure Built Year | 1996 | 1983 | 1978 |
| Median Number of Rooms | 6.2 | 5.5 | 5.5 |
The typical housing unit in Lake Stevens was built around 1996. On average, 2.9 people live in a home with about 6.2 rooms, staying for about 11.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Lake Stevens, Washington.
What is the median home price in Lake Stevens, Washington?
The median home price in Lake Stevens, Washington is $454,315, lower than the Washington average of $485,016.
What is the average home price in Lake Stevens, Washington?
The typical home price in Lake Stevens, Washington, reported as the median sale price, is $454,315. 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 Lake Stevens, Washington?
The median gross rent in Lake Stevens, Washington is $2,204 per month, higher than the Washington average of $1,759.
What was the median gross rent in Lake Stevens in 2020?
In 2020, the median gross rent in Lake Stevens, Washington was $1,641 per month.
What is the price-to-rent ratio in Lake Stevens, Washington?
The price-to-rent ratio in Lake Stevens, Washington is about 17.2, meaning it would take roughly 17.2 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 Lake Stevens.
Are home prices or rent rising faster in Lake Stevens, Washington?
Both home prices and rent are rising in Lake Stevens, up about 7.7% and 6.9% a year respectively. Home prices are changing faster.
What is the homeownership rate in Lake Stevens, Washington?
73.2% of households in Lake Stevens, Washington own their home, higher than the Washington average of 59.1%.
What is the vacancy rate in Lake Stevens, Washington?
The housing vacancy rate in Lake Stevens, Washington is 3.4%, lower than the Washington average of 7.3%.
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