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 | Whatcom County | Washington Avg | US Average |
|---|---|---|---|
| Median Home Price | $427,928 | $471,160 | $242,182 |
| Price Trend (Annual %) | 9.3% | 12.1% | 8.2% |
| Median Gross Rent | $1,464 | $1,681 | $1,342 |
| Rent Trend (Annual %) | 6.6% | 6.9% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Whatcom County is about 9% lower than in Washington. Rent is about 13% 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 Whatcom County, up about 9.3% and 6.6% a year respectively. Home prices are changing faster.
Median rent in Whatcom County rose about 58.2% between 2015 and 2023, from $925 to $1,464. Over the same span, rent in Washington rose about 65.7%.
Affordability
On average, housing unit costs 5.3 yearly household incomes in Whatcom County.
Buying the median-priced home in Whatcom County costs roughly 24.4 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 Whatcom County. The price-to-rent ratio in Washington is about 23.4.
| Metric | Whatcom County | Washington Avg | US Average |
|---|---|---|---|
| Median Home Price | $427,928 | $471,160 | $242,182 |
| Median Household Income | $80,505 | $95,177 | $78,145 |
| Price-to-Income Ratio | 5.3 | 5.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Whatcom County rose about 101.0%, while median household income rose about 68.4% 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 | Whatcom County | Washington Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 57.6% | 59.1% | 58.2% |
| Rental Rate | 33.1% | 33.4% | 31.3% |
| Vacancy Rate | 9.3% | 7.4% | 10.6% |
| Median Tenure (years) | 13.0 | 14.0 | 15.0 |
| Median Year Moved In | 2013 | 2012 | 2011 |
Whatcom County has a homeownership rate of 57.6%, lower than the Washington average of 59.1%. Its housing vacancy rate is 9.3%, compared with 7.4% in Washington.
Housing Stock
| Metric | Whatcom County | Washington Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.42 people | 2.51 people | 2.54 people |
| Median Structure Built Year | 1985 | 1982 | 1978 |
| Median Number of Rooms | 5.3 | 5.5 | 5.5 |
The typical housing unit in Whatcom County was built around 1985. On average, 2.4 people live in a home with about 5.3 rooms, staying for about 13.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Whatcom County, Washington.
What is the median home price in Whatcom County, Washington?
The median home price in Whatcom County, Washington is $427,928, lower than the Washington average of $471,160.
What is the average home price in Whatcom 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 Whatcom County, Washington?
The median gross rent in Whatcom County, Washington is $1,464 per month, lower than the Washington average of $1,681.
What was the median gross rent in Whatcom County in 2020?
In 2020, the median gross rent in Whatcom County, Washington was $1,119 per month.
What is the price-to-rent ratio in Whatcom County, Washington?
The price-to-rent ratio in Whatcom County, Washington is about 24.4, meaning it would take roughly 24.4 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 Whatcom County.
Are home prices or rent rising faster in Whatcom County, Washington?
Both home prices and rent are rising in Whatcom County, up about 9.3% and 6.6% a year respectively. Home prices are changing faster.
What is the homeownership rate in Whatcom County, Washington?
57.6% of households in Whatcom County, Washington own their home, lower than the Washington average of 59.1%.
What is the vacancy rate in Whatcom County, Washington?
The housing vacancy rate in Whatcom County, Washington is 9.3%, higher than the Washington average of 7.4%.