Mill Creek East, Washington Housing Market Prices
Mill Creek East 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 70% above the Washington median$2,988
Housing Market Overview
| Metric | Mill Creek East | Washington Avg | US Average |
|---|---|---|---|
| Median Home Price | $350,000 | $485,016 | $248,835 |
| Price Trend (Annual %) | -3.7% | 10.9% | 7.5% |
| Median Gross Rent | $2,988 | $1,759 | $1,407 |
| Rent Trend (Annual %) | 8.2% | 6.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Mill Creek East is about 28% lower than in Washington. Rent is about 70% higher than the Washington average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Home prices and rent are moving in opposite directions in Mill Creek East: home prices fell about 3.7% a year while rent rose about 8.2% a year. That is an unusual pattern worth watching.
Median rent in Mill Creek East rose about 91.2% between 2015 and 2024, from $1,563 to $2,988. Over the same span, rent in Washington rose about 73.4%.
Affordability
On average, housing unit costs 1.9 yearly household incomes in Mill Creek East.
Buying the median-priced home in Mill Creek East costs roughly 9.8 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 Mill Creek East. The price-to-rent ratio in Washington is about 23.0.
| Metric | Mill Creek East | Washington Avg | US Average |
|---|---|---|---|
| Median Home Price | $350,000 | $485,016 | $248,835 |
| Median Household Income | $182,341 | $98,224 | $80,455 |
| Price-to-Income Ratio | 1.9 | 4.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Mill Creek East rose about 42.3%, while median household income rose about 87.9% 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 | Mill Creek East | Washington Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 81.7% | 59.1% | 58.5% |
| Rental Rate | 17.4% | 33.6% | 31.2% |
| Vacancy Rate | 0.9% | 7.3% | 10.2% |
| Median Tenure (years) | 12.0 | 14.0 | 15.0 |
| Median Year Moved In | 2014 | 2012 | 2011 |
Mill Creek East has a homeownership rate of 81.7%, higher than the Washington average of 59.1%. Its housing vacancy rate is 0.9%, compared with 7.3% in Washington.
Housing Stock
| Metric | Mill Creek East | Washington Avg | US Average |
|---|---|---|---|
| Average Household Size | 3.00 people | 2.50 people | 2.53 people |
| Median Structure Built Year | 1998 | 1983 | 1978 |
| Median Number of Rooms | 6.3 | 5.5 | 5.5 |
The typical housing unit in Mill Creek East was built around 1998. On average, 3.0 people live in a home with about 6.3 rooms, staying for about 12.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Mill Creek East, Washington.
What is the median home price in Mill Creek East, Washington?
The median home price in Mill Creek East, Washington is $350,000, lower than the Washington average of $485,016.
What is the average home price in Mill Creek East, Washington?
The typical home price in Mill Creek East, 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 Mill Creek East, Washington?
The median gross rent in Mill Creek East, Washington is $2,988 per month, higher than the Washington average of $1,759.
What was the median gross rent in Mill Creek East in 2020?
In 2020, the median gross rent in Mill Creek East, Washington was $2,290 per month.
What is the price-to-rent ratio in Mill Creek East, Washington?
The price-to-rent ratio in Mill Creek East, Washington is about 9.8, meaning it would take roughly 9.8 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 Mill Creek East.
Are home prices or rent rising faster in Mill Creek East, Washington?
Home prices and rent are moving in opposite directions in Mill Creek East: home prices fell about 3.7% a year while rent rose about 8.2% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Mill Creek East, Washington?
81.7% of households in Mill Creek East, Washington own their home, higher than the Washington average of 59.1%.
What is the vacancy rate in Mill Creek East, Washington?
The housing vacancy rate in Mill Creek East, Washington is 0.9%, lower than the Washington average of 7.3%.
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