Housing Market Overview
Housing market data including home prices, rent costs, affordability metrics, and housing stock characteristics.
$674,296
$2,510
Housing Market Overview
| Metric | Union Hill-Novelty Hill | Washington Avg | US Average |
|---|---|---|---|
| Median Home Price | $674,296 | $471,160 | $242,182 |
| Price Trend (Annual %) | 6.9% | 12.1% | 8.2% |
| Median Gross Rent | $2,510 | $1,681 | $1,342 |
| Rent Trend (Annual %) | 5.5% | 6.9% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
Housing Cost & Rent Trends
Median Home Price Over Time
Union Hill-Novelty Hill
Washington
United States
Median Rent Over Time
Union Hill-Novelty Hill
Washington
United States
Affordability
On average, housing unit costs 3.7 yearly household incomes in Union Hill-Novelty Hill.
| Metric | Union Hill-Novelty Hill | Washington Avg | US Average |
|---|---|---|---|
| Median Home Price | $674,296 | $471,160 | $242,182 |
| Median Household Income | $181,279 | $95,177 | $78,145 |
| Price-to-Income Ratio | 3.7 | 5.0 | 3.1 |
Home Prices vs Income Over Time
Home Prices
Household Income
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Household Income Growth %
Housing Cost Growth %
Occupancy & Tenure
| Metric | Union Hill-Novelty Hill | Washington Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 73.9% | 59.1% | 58.2% |
| Rental Rate | 22.1% | 33.4% | 31.3% |
| Vacancy Rate | 4.0% | 7.4% | 10.6% |
| Median Tenure (years) | 14.0 | 14.0 | 15.0 |
| Median Year Moved In | 2012 | 2012 | 2011 |
Housing Stock
| Metric | Union Hill-Novelty Hill | Washington Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.71 people | 2.51 people | 2.54 people |
| Median Structure Built Year | 1998 | 1982 | 1978 |
| Median Number of Rooms | 6.4 | 5.5 | 5.5 |