Lynnwood, Washington Housing Market Prices
Lynnwood 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 82% above the Washington median$884,322
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Median rent About the same as the Washington median$1,761
Housing Market Overview
| Metric | Lynnwood | Washington Avg | US Average |
|---|---|---|---|
| Median Home Price | $884,322 | $485,016 | $248,835 |
| Price Trend (Annual %) | 30.8% | 10.9% | 7.5% |
| Median Gross Rent | $1,761 | $1,759 | $1,407 |
| Rent Trend (Annual %) | 6.8% | 6.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Lynnwood is about 82% higher than in Washington. Rent follows a similar pattern, running close to 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 Lynnwood, up about 30.8% and 6.8% a year respectively. Home prices are changing faster.
Median rent in Lynnwood rose about 74.6% between 2015 and 2024, from $1,009 to $1,761. Over the same span, rent in Washington rose about 73.4%.
Affordability
On average, housing unit costs 10.8 yearly household incomes in Lynnwood.
Buying the median-priced home in Lynnwood costs roughly 41.8 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 Lynnwood. The price-to-rent ratio in Washington is about 23.0.
| Metric | Lynnwood | Washington Avg | US Average |
|---|---|---|---|
| Median Home Price | $884,322 | $485,016 | $248,835 |
| Median Household Income | $81,645 | $98,224 | $80,455 |
| Price-to-Income Ratio | 10.8 | 4.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Lynnwood rose about 378.8%, while median household income rose about 61.6% 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 | Lynnwood | Washington Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 48.5% | 59.1% | 58.5% |
| Rental Rate | 46.4% | 33.6% | 31.2% |
| Vacancy Rate | 5.1% | 7.3% | 10.2% |
| Median Tenure (years) | 12.0 | 14.0 | 15.0 |
| Median Year Moved In | 2014 | 2012 | 2011 |
Lynnwood has a homeownership rate of 48.5%, lower than the Washington average of 59.1%. Its housing vacancy rate is 5.1%, compared with 7.3% in Washington.
Housing Stock
| Metric | Lynnwood | Washington Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.45 people | 2.50 people | 2.53 people |
| Median Structure Built Year | 1983 | 1983 | 1978 |
| Median Number of Rooms | 4.6 | 5.5 | 5.5 |
The typical housing unit in Lynnwood was built around 1983. On average, 2.5 people live in a home with about 4.6 rooms, staying for about 12.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Lynnwood, Washington.
What is the median home price in Lynnwood, Washington?
The median home price in Lynnwood, Washington is $884,322, higher than the Washington average of $485,016.
What is the average home price in Lynnwood, Washington?
The typical home price in Lynnwood, Washington, reported as the median sale price, is $884,322. 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 Lynnwood, Washington?
The median gross rent in Lynnwood, Washington is $1,761 per month, about the same as the Washington average.
What was the median gross rent in Lynnwood in 2020?
In 2020, the median gross rent in Lynnwood, Washington was $1,377 per month.
What is the price-to-rent ratio in Lynnwood, Washington?
The price-to-rent ratio in Lynnwood, Washington is about 41.8, meaning it would take roughly 41.8 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 Lynnwood.
Are home prices or rent rising faster in Lynnwood, Washington?
Both home prices and rent are rising in Lynnwood, up about 30.8% and 6.8% a year respectively. Home prices are changing faster.
What is the homeownership rate in Lynnwood, Washington?
48.5% of households in Lynnwood, Washington own their home, lower than the Washington average of 59.1%.
What is the vacancy rate in Lynnwood, Washington?
The housing vacancy rate in Lynnwood, Washington is 5.1%, lower than the Washington average of 7.3%.
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