Lake Stevens, WA Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q4 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Lake Stevens, WA Housing Market Trends

With 33,911 people, 11,186 houses or apartments, and a median cost of homes of $479,446, real estate costs in Lake Stevens are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive Washington communities.

Single-family detached homes are the single most common housing type in Lake Stevens, accounting for 80.19% of the city's housing units. Other types of housing that are prevalent in Lake Stevens include row houses and other attached homes ( 6.57%), duplexes, homes converted to apartments or other small apartment buildings ( 5.54%), and a few large apartment complexes or high rise apartments ( 4.87%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Lake Stevens. Owner-occupied housing accounts for 74.43% of Lake Stevens's homes, and 76.76% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Lake Stevens built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Lake Stevens built between 2000 and later ( 37.17%). A lesser amount of the housing stock also hails from between 1940-1969 ( 10.19%). There's also some housing in Lake Stevens built before 1939 ( 4.52%).

Lake Stevens Home Appreciation Rates

In the last 10 years, Lake Stevens has experienced some of the highest home appreciation rates of any community in the nation. Lake Stevens real estate appreciated 79.55% over the last ten years, which is an average annual home appreciation rate of 6.03%, putting Lake Stevens in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Lake Stevens definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Appreciation rates are so strong in Lake Stevens that despite a nationwide downturn in the housing market, Lake Stevens real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Lake Stevens appreciation rates continue to be some of the highest in America, at 6.62%, which is higher than appreciation rates in 79.33% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Lake Stevens. Lake Stevens appreciation rates in the latest quarter were at 2.45%, which equates to an annual appreciation rate of 10.18%.

Relative to Washington, our data show that Lake Stevens's latest annual appreciation rate is lower than 70% of the other cities and towns in Washington.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Lake Stevens differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Lake Stevens - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Lake Stevens real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$479,446

Lake Stevens, WA HOME PRICES

> $1,253,000
1.9%
1.9%
$939,001 - $1,253,000
2.8%
2.8%
$626,001 - $939,000
11.5%
11.5%
$501,001 - $626,000
19.1%
19.1%
$376,001 - $501,000
34.8%
34.8%
$251,001 - $376,000
22.0%
22.0%
$126,001 - $251,000
4.5%
4.5%
$63,001 - $126,000
1.5%
1.5%
$0 - $63,000
1.9%
1.9%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

High for WA

Value Relative To Nation

Number Of Homes And Apartments:
11,186

Lake Stevens Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
WA*
Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
133.05% 4.11%
6
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,582 / per month

Homeownership Rate

Owners
74.4%
74.4%
Renters
25.6%
25.6%
Vacant
2.1%
2.1%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
37.2%
37.2%
1970 - 1999
48.1%
48.1%
1940 - 1969
10.2%
10.2%
1939 or Older
4.5%
4.5%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
80.2%
80.2%
Townhomes
6.6%
6.6%
Small Apt. Buildings
5.5%
5.5%
Apt. Complexes
4.9%
4.9%
Mobile Homes
2.8%
2.8%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.6%
0.6%
1 Bedroom
3.0%
3.0%
2 Bedrooms
12.0%
12.0%
3 Bedrooms
56.2%
56.2%
4 Bedrooms
20.6%
20.6%
5 or more bedrooms
7.7%
7.7%
0.0% 100.0%
% OF HOMES