Housing Market Overview
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Okanogan County | Washington Avg | US Average |
|---|---|---|---|
| Median Home Price | $343,002 | $471,160 | $242,182 |
| Price Trend (Annual %) | 38.1% | 12.1% | 8.2% |
| Median Gross Rent | $868 | $1,681 | $1,342 |
| Rent Trend (Annual %) | 4.7% | 6.9% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Okanogan County is about 27% lower than in Washington. Rent is about 48% lower than the Washington average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Okanogan County, up about 38.1% and 4.7% a year respectively. Home prices are changing faster.
Median rent in Okanogan County rose about 39.8% between 2015 and 2023, from $620 to $868. Over the same span, rent in Washington rose about 65.7%.
Affordability
On average, housing unit costs 5.7 yearly household incomes in Okanogan County.
Buying the median-priced home in Okanogan County costs roughly 32.9 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 Okanogan County. The price-to-rent ratio in Washington is about 23.4.
| Metric | Okanogan County | Washington Avg | US Average |
|---|---|---|---|
| Median Home Price | $343,002 | $471,160 | $242,182 |
| Median Household Income | $60,333 | $95,177 | $78,145 |
| Price-to-Income Ratio | 5.7 | 5.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Okanogan County rose about 128.7%, while median household income rose about 58.0% between 2009 and 2023 — 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 | Okanogan County | Washington Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 56.1% | 59.1% | 58.2% |
| Rental Rate | 22.1% | 33.4% | 31.3% |
| Vacancy Rate | 21.8% | 7.4% | 10.6% |
| Median Tenure (years) | 15.0 | 14.0 | 15.0 |
| Median Year Moved In | 2011 | 2012 | 2011 |
Okanogan County has a homeownership rate of 56.1%, lower than the Washington average of 59.1%. Its housing vacancy rate is 21.8%, compared with 7.4% in Washington.
Housing Stock
| Metric | Okanogan County | Washington Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.35 people | 2.51 people | 2.54 people |
| Median Structure Built Year | 1982 | 1982 | 1978 |
| Median Number of Rooms | 5.2 | 5.5 | 5.5 |
The typical housing unit in Okanogan County was built around 1982. On average, 2.3 people live in a home with about 5.2 rooms, staying for about 15.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Okanogan County, Washington.
What is the median home price in Okanogan County, Washington?
The median home price in Okanogan County, Washington is $343,002, lower than the Washington average of $471,160.
What is the average home price in Okanogan County, Washington?
The typical home price in %s, reported as the median sale price, is %s. 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 Okanogan County, Washington?
The median gross rent in Okanogan County, Washington is $868 per month, lower than the Washington average of $1,681.
What was the median gross rent in Okanogan County in 2020?
In 2020, the median gross rent in Okanogan County, Washington was $740 per month.
What is the price-to-rent ratio in Okanogan County, Washington?
The price-to-rent ratio in Okanogan County, Washington is about 32.9, meaning it would take roughly 32.9 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 Okanogan County.
Are home prices or rent rising faster in Okanogan County, Washington?
Both home prices and rent are rising in Okanogan County, up about 38.1% and 4.7% a year respectively. Home prices are changing faster.
What is the homeownership rate in Okanogan County, Washington?
56.1% of households in Okanogan County, Washington own their home, lower than the Washington average of 59.1%.
What is the vacancy rate in Okanogan County, Washington?
The housing vacancy rate in Okanogan County, Washington is 21.8%, higher than the Washington average of 7.4%.