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 | Pend Oreille County | Washington Avg | US Average |
|---|---|---|---|
| Median Home Price | $380,432 | $471,160 | $242,182 |
| Price Trend (Annual %) | 20.9% | 12.1% | 8.2% |
| Median Gross Rent | $785 | $1,681 | $1,342 |
| Rent Trend (Annual %) | 0.4% | 6.9% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Pend Oreille County is about 19% lower than in Washington. Rent is about 53% 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 Pend Oreille County, up about 20.9% and 0.4% a year respectively. Home prices are changing faster.
Median rent in Pend Oreille County rose about 0.6% between 2015 and 2023, from $781 to $785. Over the same span, rent in Washington rose about 65.7%.
Affordability
On average, housing unit costs 6.2 yearly household incomes in Pend Oreille County.
Buying the median-priced home in Pend Oreille County costs roughly 40.4 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 Pend Oreille County. The price-to-rent ratio in Washington is about 23.4.
| Metric | Pend Oreille County | Washington Avg | US Average |
|---|---|---|---|
| Median Home Price | $380,432 | $471,160 | $242,182 |
| Median Household Income | $61,464 | $95,177 | $78,145 |
| Price-to-Income Ratio | 6.2 | 5.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Pend Oreille County rose about 155.3%, while median household income rose about 67.8% 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 | Pend Oreille County | Washington Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 56.0% | 59.1% | 58.2% |
| Rental Rate | 16.5% | 33.4% | 31.3% |
| Vacancy Rate | 27.5% | 7.4% | 10.6% |
| Median Tenure (years) | 16.0 | 14.0 | 15.0 |
| Median Year Moved In | 2010 | 2012 | 2011 |
Pend Oreille County has a homeownership rate of 56.0%, lower than the Washington average of 59.1%. Its housing vacancy rate is 27.5%, compared with 7.4% in Washington.
Housing Stock
| Metric | Pend Oreille County | Washington Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.35 people | 2.51 people | 2.54 people |
| Median Structure Built Year | 1983 | 1982 | 1978 |
| Median Number of Rooms | 5.5 | 5.5 | 5.5 |
The typical housing unit in Pend Oreille County was built around 1983. On average, 2.3 people live in a home with about 5.5 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Pend Oreille County, Washington.
What is the median home price in Pend Oreille County, Washington?
The median home price in Pend Oreille County, Washington is $380,432, lower than the Washington average of $471,160.
What is the average home price in Pend Oreille 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 Pend Oreille County, Washington?
The median gross rent in Pend Oreille County, Washington is $785 per month, lower than the Washington average of $1,681.
What was the median gross rent in Pend Oreille County in 2020?
In 2020, the median gross rent in Pend Oreille County, Washington was $738 per month.
What is the price-to-rent ratio in Pend Oreille County, Washington?
The price-to-rent ratio in Pend Oreille County, Washington is about 40.4, meaning it would take roughly 40.4 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 Pend Oreille County.
Are home prices or rent rising faster in Pend Oreille County, Washington?
Both home prices and rent are rising in Pend Oreille County, up about 20.9% and 0.4% a year respectively. Home prices are changing faster.
What is the homeownership rate in Pend Oreille County, Washington?
56.0% of households in Pend Oreille County, Washington own their home, lower than the Washington average of 59.1%.
What is the vacancy rate in Pend Oreille County, Washington?
The housing vacancy rate in Pend Oreille County, Washington is 27.5%, higher than the Washington average of 7.4%.