Martha Lake, Washington Housing Market Prices
Martha Lake 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 28% below the Washington median$350,000
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Median rent 29% above the Washington median$2,260
Housing Market Overview
| Metric | Martha Lake | Washington Avg | US Average |
|---|---|---|---|
| Median Home Price | $350,000 | $485,016 | $248,835 |
| Price Trend (Annual %) | 11.3% | 10.9% | 7.5% |
| Median Gross Rent | $2,260 | $1,759 | $1,407 |
| Rent Trend (Annual %) | 5.7% | 6.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Martha Lake is about 28% lower than in Washington. Rent is about 29% 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 Martha Lake, up about 11.3% and 5.7% a year respectively. Home prices are changing faster.
Median rent in Martha Lake rose about 58.8% between 2015 and 2024, from $1,423 to $2,260. Over the same span, rent in Washington rose about 73.4%.
Affordability
On average, housing unit costs 2.7 yearly household incomes in Martha Lake.
Buying the median-priced home in Martha Lake costs roughly 12.9 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Martha Lake. The price-to-rent ratio in Washington is about 23.0.
| Metric | Martha Lake | Washington Avg | US Average |
|---|---|---|---|
| Median Home Price | $350,000 | $485,016 | $248,835 |
| Median Household Income | $131,308 | $98,224 | $80,455 |
| Price-to-Income Ratio | 2.7 | 4.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Martha Lake rose about 18.1%, while median household income rose about 58.0% between 2009 and 2025 — 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 | Martha Lake | Washington Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 61.0% | 59.1% | 58.5% |
| Rental Rate | 35.9% | 33.6% | 31.2% |
| Vacancy Rate | 3.1% | 7.3% | 10.2% |
| Median Tenure (years) | 10.0 | 14.0 | 15.0 |
| Median Year Moved In | 2016 | 2012 | 2011 |
Martha Lake has a homeownership rate of 61.0%, higher than the Washington average of 59.1%. Its housing vacancy rate is 3.1%, compared with 7.3% in Washington.
Housing Stock
| Metric | Martha Lake | Washington Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.67 people | 2.50 people | 2.53 people |
| Median Structure Built Year | 1996 | 1983 | 1978 |
| Median Number of Rooms | 5.3 | 5.5 | 5.5 |
The typical housing unit in Martha Lake was built around 1996. On average, 2.7 people live in a home with about 5.3 rooms, staying for about 10.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Martha Lake, Washington.
What is the median home price in Martha Lake, Washington?
The median home price in Martha Lake, Washington is $350,000, lower than the Washington average of $485,016.
What is the average home price in Martha Lake, Washington?
The typical home price in Martha Lake, Washington, reported as the median sale price, is $350,000. 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 Martha Lake, Washington?
The median gross rent in Martha Lake, Washington is $2,260 per month, higher than the Washington average of $1,759.
What was the median gross rent in Martha Lake in 2020?
In 2020, the median gross rent in Martha Lake, Washington was $1,780 per month.
What is the price-to-rent ratio in Martha Lake, Washington?
The price-to-rent ratio in Martha Lake, Washington is about 12.9, meaning it would take roughly 12.9 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Martha Lake.
Are home prices or rent rising faster in Martha Lake, Washington?
Both home prices and rent are rising in Martha Lake, up about 11.3% and 5.7% a year respectively. Home prices are changing faster.
What is the homeownership rate in Martha Lake, Washington?
61.0% of households in Martha Lake, Washington own their home, higher than the Washington average of 59.1%.
What is the vacancy rate in Martha Lake, Washington?
The housing vacancy rate in Martha Lake, Washington is 3.1%, lower than the Washington average of 7.3%.
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