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 | Pacific County | Washington Avg | US Average |
|---|---|---|---|
| Median Home Price | $243,387 | $471,160 | $242,182 |
| Price Trend (Annual %) | 8.4% | 12.1% | 8.2% |
| Median Gross Rent | $962 | $1,681 | $1,342 |
| Rent Trend (Annual %) | 4.7% | 6.9% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Pacific County is about 48% lower than in Washington. Rent is about 43% 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 Pacific County, up about 8.4% and 4.7% a year respectively. Home prices are changing faster.
Median rent in Pacific County rose about 36.7% between 2015 and 2023, from $703 to $962. Over the same span, rent in Washington rose about 65.7%.
Affordability
On average, housing unit costs 3.8 yearly household incomes in Pacific County.
Buying the median-priced home in Pacific County costs roughly 21.1 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 Pacific County. The price-to-rent ratio in Washington is about 23.4.
| Metric | Pacific County | Washington Avg | US Average |
|---|---|---|---|
| Median Home Price | $243,387 | $471,160 | $242,182 |
| Median Household Income | $63,469 | $95,177 | $78,145 |
| Price-to-Income Ratio | 3.8 | 5.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Pacific County rose about 79.1%, while median household income rose about 63.3% 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 | Pacific County | Washington Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 53.9% | 59.1% | 58.2% |
| Rental Rate | 12.5% | 33.4% | 31.3% |
| Vacancy Rate | 33.7% | 7.4% | 10.6% |
| Median Tenure (years) | 16.0 | 14.0 | 15.0 |
| Median Year Moved In | 2010 | 2012 | 2011 |
Pacific County has a homeownership rate of 53.9%, lower than the Washington average of 59.1%. Its housing vacancy rate is 33.7%, compared with 7.4% in Washington.
Housing Stock
| Metric | Pacific County | Washington Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.18 people | 2.51 people | 2.54 people |
| Median Structure Built Year | 1972 | 1982 | 1978 |
| Median Number of Rooms | 5.3 | 5.5 | 5.5 |
The typical housing unit in Pacific County was built around 1972. On average, 2.2 people live in a home with about 5.3 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Pacific County, Washington.
What is the median home price in Pacific County, Washington?
The median home price in Pacific County, Washington is $243,387, lower than the Washington average of $471,160.
What is the average home price in Pacific 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 Pacific County, Washington?
The median gross rent in Pacific County, Washington is $962 per month, lower than the Washington average of $1,681.
What was the median gross rent in Pacific County in 2020?
In 2020, the median gross rent in Pacific County, Washington was $805 per month.
What is the price-to-rent ratio in Pacific County, Washington?
The price-to-rent ratio in Pacific County, Washington is about 21.1, meaning it would take roughly 21.1 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 Pacific County.
Are home prices or rent rising faster in Pacific County, Washington?
Both home prices and rent are rising in Pacific County, up about 8.4% and 4.7% a year respectively. Home prices are changing faster.
What is the homeownership rate in Pacific County, Washington?
53.9% of households in Pacific County, Washington own their home, lower than the Washington average of 59.1%.
What is the vacancy rate in Pacific County, Washington?
The housing vacancy rate in Pacific County, Washington is 33.7%, higher than the Washington average of 7.4%.