Parkland, Washington Housing Market Prices
Parkland 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 31% below the Washington median$334,674
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Median rent 6% below the Washington median$1,652
Housing Market Overview
| Metric | Parkland | Washington Avg | US Average |
|---|---|---|---|
| Median Home Price | $334,674 | $485,016 | $248,835 |
| Price Trend (Annual %) | 12.0% | 10.9% | 7.5% |
| Median Gross Rent | $1,652 | $1,759 | $1,407 |
| Rent Trend (Annual %) | 7.9% | 6.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Parkland is about 31% lower than in Washington. Rent is about 6% lower 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 Parkland, up about 12.0% and 7.9% a year respectively. Home prices are changing faster.
Median rent in Parkland rose about 89.3% between 2015 and 2024, from $873 to $1,652. Over the same span, rent in Washington rose about 73.4%.
Affordability
On average, housing unit costs 4.6 yearly household incomes in Parkland.
Buying the median-priced home in Parkland costs roughly 16.9 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Parkland. The price-to-rent ratio in Washington is about 23.0.
| Metric | Parkland | Washington Avg | US Average |
|---|---|---|---|
| Median Home Price | $334,674 | $485,016 | $248,835 |
| Median Household Income | $72,504 | $98,224 | $80,455 |
| Price-to-Income Ratio | 4.6 | 4.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Parkland rose about 122.4%, while median household income rose about 55.7% 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 | Parkland | Washington Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 49.0% | 59.1% | 58.5% |
| Rental Rate | 44.2% | 33.6% | 31.2% |
| Vacancy Rate | 6.9% | 7.3% | 10.2% |
| Median Tenure (years) | 12.0 | 14.0 | 15.0 |
| Median Year Moved In | 2014 | 2012 | 2011 |
Parkland has a homeownership rate of 49.0%, lower than the Washington average of 59.1%. Its housing vacancy rate is 6.9%, compared with 7.3% in Washington.
Housing Stock
| Metric | Parkland | Washington Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.64 people | 2.50 people | 2.53 people |
| Median Structure Built Year | 1979 | 1983 | 1978 |
| Median Number of Rooms | 5.2 | 5.5 | 5.5 |
The typical housing unit in Parkland was built around 1979. On average, 2.6 people live in a home with about 5.2 rooms, staying for about 12.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Parkland, Washington.
What is the median home price in Parkland, Washington?
The median home price in Parkland, Washington is $334,674, lower than the Washington average of $485,016.
What is the average home price in Parkland, Washington?
The typical home price in Parkland, Washington, reported as the median sale price, is $334,674. 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 Parkland, Washington?
The median gross rent in Parkland, Washington is $1,652 per month, lower than the Washington average of $1,759.
What was the median gross rent in Parkland in 2020?
In 2020, the median gross rent in Parkland, Washington was $1,199 per month.
What is the price-to-rent ratio in Parkland, Washington?
The price-to-rent ratio in Parkland, Washington is about 16.9, meaning it would take roughly 16.9 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Parkland.
Are home prices or rent rising faster in Parkland, Washington?
Both home prices and rent are rising in Parkland, up about 12.0% and 7.9% a year respectively. Home prices are changing faster.
What is the homeownership rate in Parkland, Washington?
49.0% of households in Parkland, Washington own their home, lower than the Washington average of 59.1%.
What is the vacancy rate in Parkland, Washington?
The housing vacancy rate in Parkland, Washington is 6.9%, lower than the Washington average of 7.3%.
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