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 | Stevens County | Washington Avg | US Average |
|---|---|---|---|
| Median Home Price | $234,677 | $471,160 | $242,182 |
| Price Trend (Annual %) | 7.0% | 12.1% | 8.2% |
| Median Gross Rent | $864 | $1,681 | $1,342 |
| Rent Trend (Annual %) | 3.7% | 6.9% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Stevens County is about 50% lower than in Washington. Rent is about 49% 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 Stevens County, up about 7.0% and 3.7% a year respectively. Home prices are changing faster.
Median rent in Stevens County rose about 28.6% between 2015 and 2023, from $672 to $864. Over the same span, rent in Washington rose about 65.7%.
Affordability
On average, housing unit costs 3.5 yearly household incomes in Stevens County.
Buying the median-priced home in Stevens County costs roughly 22.6 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 Stevens County. The price-to-rent ratio in Washington is about 23.4.
| Metric | Stevens County | Washington Avg | US Average |
|---|---|---|---|
| Median Home Price | $234,677 | $471,160 | $242,182 |
| Median Household Income | $66,229 | $95,177 | $78,145 |
| Price-to-Income Ratio | 3.5 | 5.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Stevens County rose about 67.6%, while median household income rose about 57.6% 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 | Stevens County | Washington Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 66.6% | 59.1% | 58.2% |
| Rental Rate | 17.5% | 33.4% | 31.3% |
| Vacancy Rate | 15.9% | 7.4% | 10.6% |
| Median Tenure (years) | 17.0 | 14.0 | 15.0 |
| Median Year Moved In | 2009 | 2012 | 2011 |
Stevens County has a homeownership rate of 66.6%, higher than the Washington average of 59.1%. Its housing vacancy rate is 15.9%, compared with 7.4% in Washington.
Housing Stock
| Metric | Stevens County | Washington Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.49 people | 2.51 people | 2.54 people |
| Median Structure Built Year | 1983 | 1982 | 1978 |
| Median Number of Rooms | 5.7 | 5.5 | 5.5 |
The typical housing unit in Stevens County was built around 1983. On average, 2.5 people live in a home with about 5.7 rooms, staying for about 17.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Stevens County, Washington.
What is the median home price in Stevens County, Washington?
The median home price in Stevens County, Washington is $234,677, lower than the Washington average of $471,160.
What is the average home price in Stevens 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 Stevens County, Washington?
The median gross rent in Stevens County, Washington is $864 per month, lower than the Washington average of $1,681.
What was the median gross rent in Stevens County in 2020?
In 2020, the median gross rent in Stevens County, Washington was $709 per month.
What is the price-to-rent ratio in Stevens County, Washington?
The price-to-rent ratio in Stevens County, Washington is about 22.6, meaning it would take roughly 22.6 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 Stevens County.
Are home prices or rent rising faster in Stevens County, Washington?
Both home prices and rent are rising in Stevens County, up about 7.0% and 3.7% a year respectively. Home prices are changing faster.
What is the homeownership rate in Stevens County, Washington?
66.6% of households in Stevens County, Washington own their home, higher than the Washington average of 59.1%.
What is the vacancy rate in Stevens County, Washington?
The housing vacancy rate in Stevens County, Washington is 15.9%, higher than the Washington average of 7.4%.