Union Hill-Novelty Hill, Washington Housing Market Prices
Union Hill-Novelty Hill 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.
-
Median home price 70% above the Washington median$826,184
-
Median rent 47% above the Washington median$2,587
Housing Market Overview
| Metric | Union Hill-Novelty Hill | Washington Avg | US Average |
|---|---|---|---|
| Median Home Price | $826,184 | $485,016 | $248,835 |
| Price Trend (Annual %) | 8.8% | 10.9% | 7.5% |
| Median Gross Rent | $2,587 | $1,759 | $1,407 |
| Rent Trend (Annual %) | 5.2% | 6.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Union Hill-Novelty Hill is about 70% higher than in Washington. Rent is about 47% 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 Union Hill-Novelty Hill, up about 8.8% and 5.2% a year respectively. Home prices are changing faster.
Median rent in Union Hill-Novelty Hill rose about 69.8% between 2015 and 2024, from $1,524 to $2,587. Over the same span, rent in Washington rose about 73.4%.
Affordability
On average, housing unit costs 4.5 yearly household incomes in Union Hill-Novelty Hill.
Buying the median-priced home in Union Hill-Novelty Hill costs roughly 26.6 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 Union Hill-Novelty Hill. The price-to-rent ratio in Washington is about 23.0.
| Metric | Union Hill-Novelty Hill | Washington Avg | US Average |
|---|---|---|---|
| Median Home Price | $826,184 | $485,016 | $248,835 |
| Median Household Income | $184,178 | $98,224 | $80,455 |
| Price-to-Income Ratio | 4.5 | 4.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Union Hill-Novelty Hill rose about 44.1%, while median household income rose about 57.9% between 2009 and 2025 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Union Hill-Novelty Hill | Washington Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 71.6% | 59.1% | 58.5% |
| Rental Rate | 24.4% | 33.6% | 31.2% |
| Vacancy Rate | 3.9% | 7.3% | 10.2% |
| Median Tenure (years) | 13.0 | 14.0 | 15.0 |
| Median Year Moved In | 2013 | 2012 | 2011 |
Union Hill-Novelty Hill has a homeownership rate of 71.6%, higher than the Washington average of 59.1%. Its housing vacancy rate is 3.9%, compared with 7.3% in Washington.
Housing Stock
| Metric | Union Hill-Novelty Hill | Washington Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.72 people | 2.50 people | 2.53 people |
| Median Structure Built Year | 1998 | 1983 | 1978 |
| Median Number of Rooms | 6.4 | 5.5 | 5.5 |
The typical housing unit in Union Hill-Novelty Hill was built around 1998. On average, 2.7 people live in a home with about 6.4 rooms, staying for about 13.0 years on average.
Union Hill-Novelty Hill, WA Housing Compared With Nearby Cities
How Union Hill-Novelty Hill, WA compares with the 2 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Union Hill-Novelty Hill, WA | 23,529 | $826,184 #2/3 | $2,587 #2/3 | 74.6% #2/3 |
| Sammamish, WA | 59,678 | $884,864 | $2,816 | 81.9% |
| Redmond, WA | 71,994 | $656,083 | $2,400 | 43.1% |
Frequently Asked Questions
Common questions about the housing market in Union Hill-Novelty Hill, Washington.
What is the median home price in Union Hill-Novelty Hill, Washington?
The median home price in Union Hill-Novelty Hill, Washington is $826,184, higher than the Washington average of $485,016.
What is the average home price in Union Hill-Novelty Hill, Washington?
The typical home price in Union Hill-Novelty Hill, Washington, reported as the median sale price, is $826,184. 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 Union Hill-Novelty Hill, Washington?
The median gross rent in Union Hill-Novelty Hill, Washington is $2,587 per month, higher than the Washington average of $1,759.
What was the median gross rent in Union Hill-Novelty Hill in 2020?
In 2020, the median gross rent in Union Hill-Novelty Hill, Washington was $2,272 per month.
What is the price-to-rent ratio in Union Hill-Novelty Hill, Washington?
The price-to-rent ratio in Union Hill-Novelty Hill, Washington is about 26.6, meaning it would take roughly 26.6 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 Union Hill-Novelty Hill.
Are home prices or rent rising faster in Union Hill-Novelty Hill, Washington?
Both home prices and rent are rising in Union Hill-Novelty Hill, up about 8.8% and 5.2% a year respectively. Home prices are changing faster.
What is the homeownership rate in Union Hill-Novelty Hill, Washington?
71.6% of households in Union Hill-Novelty Hill, Washington own their home, higher than the Washington average of 59.1%.
What is the vacancy rate in Union Hill-Novelty Hill, Washington?
The housing vacancy rate in Union Hill-Novelty Hill, Washington is 3.9%, lower than the Washington average of 7.3%.
Analyze any area in the US
Get local demographics for any address, aggregated by drive time or radius, on the interactive map.
Explore the map →