menu
Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Olympia, 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 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

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

Olympia, WA Housing Market Trends

With a population of 55,669, 24,567 total housing units (homes and apartments), and a median house value of $512,874, Olympia real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Olympia, accounting for 52.16% of the city's housing units. Other types of housing that are prevalent in Olympia include large apartment complexes or high rise apartments ( 31.51%), duplexes, homes converted to apartments or other small apartment buildings ( 8.60%), and a few row houses and other attached homes ( 4.99%).

People in Olympia primarily live in small (one, two or no bedroom) single-family detached homes. Olympia has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Olympia 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 Olympia built between 2000 and later ( 22.40%). A lesser amount of the housing stock also hails from between 1940-1969 ( 21.53%). There's also some housing in Olympia built before 1939 ( 10.84%).

Olympia Home Appreciation Rates

In the last 10 years, Olympia has experienced some of the highest home appreciation rates of any community in the nation. Olympia real estate appreciated 113.20% over the last ten years, which is an average annual home appreciation rate of 7.86%, putting Olympia in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Olympia definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Over the last year, Olympia appreciation rates have trailed the rest of the nation. In the last twelve months, Olympia's appreciation rate has been -0.51%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Olympia were at -1.17%, which equates to an annual appreciation rate of -4.61%.

Notably, Olympia's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Washington, our data show that Olympia'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 Olympia differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Olympia - 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 Olympia real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$512,874

Olympia, WA Home Prices
> $1,255,000
$941,001 - $1,255,000
$627,001 - $941,000
$502,001 - $627,000
$376,001 - $502,000
$251,001 - $376,000
$125,001 - $251,000
$63,001 - $125,000
$0 - $63,000
1.2%
1.2%
3.4%
3.4%
23.3%
23.3%
24.0%
24.0%
30.5%
30.5%
12.5%
12.5%
2.8%
2.8%
0.8%
0.8%
1.4%
1.4%
0% 100.0%
% of Homes
Average

for Washington

Very High

for nation

Number of Homes And Apartments:

24,567

Olympia Appreciation Rates

Rent & Ownership

Average Market Rent:

$2,332 / per month

Homeownership Rate

Owners
Renters
47.4%
47.4%
52.6%
52.6%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
5.0%
5.0%
95.0%
95.0%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
22.4%
22.4%
45.2%
45.2%
21.5%
21.5%
10.8%
10.8%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
52.2%
52.2%
5.0%
5.0%
8.6%
8.6%
31.5%
31.5%
2.5%
2.5%
0.2%
0.2%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
4.1%
4.1%
15.3%
15.3%
30.0%
30.0%
33.4%
33.4%
14.4%
14.4%
2.9%
2.9%
0% 100.0%
% of Homes