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 | Skagit County | Washington Avg | US Average |
|---|---|---|---|
| Median Home Price | $342,608 | $471,160 | $242,182 |
| Price Trend (Annual %) | 4.3% | 12.1% | 8.2% |
| Median Gross Rent | $1,438 | $1,681 | $1,342 |
| Rent Trend (Annual %) | 5.8% | 6.9% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Skagit County is about 27% lower than in Washington. Rent is about 14% 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 Skagit County, up about 4.3% and 5.8% a year respectively. Rent is changing faster.
Median rent in Skagit County rose about 50.8% between 2015 and 2023, from $954 to $1,438. Over the same span, rent in Washington rose about 65.7%.
Affordability
On average, housing unit costs 4.0 yearly household incomes in Skagit County.
Buying the median-priced home in Skagit County costs roughly 19.9 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 Skagit County. The price-to-rent ratio in Washington is about 23.4.
| Metric | Skagit County | Washington Avg | US Average |
|---|---|---|---|
| Median Home Price | $342,608 | $471,160 | $242,182 |
| Median Household Income | $85,328 | $95,177 | $78,145 |
| Price-to-Income Ratio | 4.0 | 5.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Skagit County rose about 72.3%, while median household income rose about 59.4% 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 | Skagit County | Washington Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 64.4% | 59.1% | 58.2% |
| Rental Rate | 26.8% | 33.4% | 31.3% |
| Vacancy Rate | 8.8% | 7.4% | 10.6% |
| Median Tenure (years) | 14.0 | 14.0 | 15.0 |
| Median Year Moved In | 2012 | 2012 | 2011 |
Skagit County has a homeownership rate of 64.4%, higher than the Washington average of 59.1%. Its housing vacancy rate is 8.8%, compared with 7.4% in Washington.
Housing Stock
| Metric | Skagit County | Washington Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.47 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 Skagit County was built around 1983. On average, 2.5 people live in a home with about 5.5 rooms, staying for about 14.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Skagit County, Washington.
What is the median home price in Skagit County, Washington?
The median home price in Skagit County, Washington is $342,608, lower than the Washington average of $471,160.
What is the average home price in Skagit 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 Skagit County, Washington?
The median gross rent in Skagit County, Washington is $1,438 per month, lower than the Washington average of $1,681.
What was the median gross rent in Skagit County in 2020?
In 2020, the median gross rent in Skagit County, Washington was $1,144 per month.
What is the price-to-rent ratio in Skagit County, Washington?
The price-to-rent ratio in Skagit County, Washington is about 19.9, meaning it would take roughly 19.9 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 Skagit County.
Are home prices or rent rising faster in Skagit County, Washington?
Both home prices and rent are rising in Skagit County, up about 4.3% and 5.8% a year respectively. Rent is changing faster.
What is the homeownership rate in Skagit County, Washington?
64.4% of households in Skagit County, Washington own their home, higher than the Washington average of 59.1%.
What is the vacancy rate in Skagit County, Washington?
The housing vacancy rate in Skagit County, Washington is 8.8%, higher than the Washington average of 7.4%.