Renton, Washington Housing Market Prices
Renton 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 65% above the Washington median$801,868
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Median rent 12% above the Washington median$1,970
Housing Market Overview
| Metric | Renton | Washington Avg | US Average |
|---|---|---|---|
| Median Home Price | $801,868 | $485,016 | $248,835 |
| Price Trend (Annual %) | 12.1% | 10.9% | 7.5% |
| Median Gross Rent | $1,970 | $1,759 | $1,407 |
| Rent Trend (Annual %) | 6.0% | 6.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Renton is about 65% higher than in Washington. Rent is about 12% higher 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 Renton, up about 12.1% and 6.0% a year respectively. Home prices are changing faster.
Median rent in Renton rose about 66.8% between 2015 and 2024, from $1,181 to $1,970. Over the same span, rent in Washington rose about 73.4%.
Affordability
On average, housing unit costs 8.1 yearly household incomes in Renton.
Buying the median-priced home in Renton costs roughly 33.9 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 Renton. The price-to-rent ratio in Washington is about 23.0.
| Metric | Renton | Washington Avg | US Average |
|---|---|---|---|
| Median Home Price | $801,868 | $485,016 | $248,835 |
| Median Household Income | $99,053 | $98,224 | $80,455 |
| Price-to-Income Ratio | 8.1 | 4.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Renton rose about 239.0%, while median household income rose about 56.1% 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 | Renton | Washington Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 50.7% | 59.1% | 58.5% |
| Rental Rate | 44.3% | 33.6% | 31.2% |
| Vacancy Rate | 4.9% | 7.3% | 10.2% |
| Median Tenure (years) | 12.0 | 14.0 | 15.0 |
| Median Year Moved In | 2014 | 2012 | 2011 |
Renton has a homeownership rate of 50.7%, lower than the Washington average of 59.1%. Its housing vacancy rate is 4.9%, compared with 7.3% in Washington.
Housing Stock
| Metric | Renton | Washington Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.54 people | 2.50 people | 2.53 people |
| Median Structure Built Year | 1987 | 1983 | 1978 |
| Median Number of Rooms | 5.1 | 5.5 | 5.5 |
The typical housing unit in Renton was built around 1987. On average, 2.5 people live in a home with about 5.1 rooms, staying for about 12.0 years on average.
Renton, WA Housing Compared With Nearby Cities
How Renton, WA compares with the 1 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Renton, WA | 106,398 | $801,868 #1/2 | $1,970 #1/2 | 53.4% #2/2 |
| Kent, WA | 124,652 | $643,396 | $1,907 | 57.2% |
Frequently Asked Questions
Common questions about the housing market in Renton, Washington.
What is the median home price in Renton, Washington?
The median home price in Renton, Washington is $801,868, higher than the Washington average of $485,016.
What is the average home price in Renton, Washington?
The typical home price in Renton, Washington, reported as the median sale price, is $801,868. 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 Renton, Washington?
The median gross rent in Renton, Washington is $1,970 per month, higher than the Washington average of $1,759.
What was the median gross rent in Renton in 2020?
In 2020, the median gross rent in Renton, Washington was $1,591 per month.
What is the price-to-rent ratio in Renton, Washington?
The price-to-rent ratio in Renton, Washington is about 33.9, meaning it would take roughly 33.9 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 Renton.
Are home prices or rent rising faster in Renton, Washington?
Both home prices and rent are rising in Renton, up about 12.1% and 6.0% a year respectively. Home prices are changing faster.
What is the homeownership rate in Renton, Washington?
50.7% of households in Renton, Washington own their home, lower than the Washington average of 59.1%.
What is the vacancy rate in Renton, Washington?
The housing vacancy rate in Renton, Washington is 4.9%, lower than the Washington average of 7.3%.
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