Bonney Lake, 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

Bonney Lake, WA Housing Market Trends

With 21,148 people, 7,145 houses or apartments, and a median cost of homes of $428,344, real estate costs in Bonney Lake 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 Bonney Lake, accounting for 77.26% of the city's housing units. Other types of housing that are prevalent in Bonney Lake include mobile homes or trailers ( 7.22%), large apartment complexes or high rise apartments ( 6.10%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.42%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Bonney Lake. Owner-occupied housing accounts for 80.43% of Bonney Lake's homes, and 74.48% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Bonney Lake 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 Bonney Lake built between 2000 and later ( 45.58%). A lesser amount of the housing stock also hails from between 1940-1969 ( 7.01%). There's also some housing in Bonney Lake built before 1939 ( 1.76%).

Bonney Lake Home Appreciation Rates

In the last 10 years, Bonney Lake has experienced some of the highest home appreciation rates of any community in the nation. Bonney Lake real estate appreciated 70.19% over the last ten years, which is an average annual home appreciation rate of 5.46%, putting Bonney Lake in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Bonney Lake 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 Bonney Lake that despite a nationwide downturn in the housing market, Bonney Lake real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Bonney Lake appreciation rates continue to be some of the highest in America, at 6.65%, which is higher than appreciation rates in 80.22% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Bonney Lake. Bonney Lake appreciation rates in the latest quarter were at 2.48%, which equates to an annual appreciation rate of 10.30%.

Relative to Washington, our data show that Bonney Lake's latest annual appreciation rate is lower than 60% 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 Bonney Lake differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Bonney Lake - 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 Bonney Lake real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$428,344

Bonney Lake, WA HOME PRICES

> $1,270,000
0.8%
0.8%
$952,001 - $1,270,000
2.8%
2.8%
$635,001 - $952,000
9.0%
9.0%
$508,001 - $635,000
16.9%
16.9%
$381,001 - $508,000
31.8%
31.8%
$254,001 - $381,000
25.7%
25.7%
$127,001 - $254,000
7.5%
7.5%
$64,001 - $127,000
2.5%
2.5%
$0 - $64,000
3.0%
3.0%
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:
7,145

Bonney Lake 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
139.03% 4.24%
7
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,445 / per month

Homeownership Rate

Owners
80.4%
80.4%
Renters
19.6%
19.6%
Vacant
3.5%
3.5%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
45.6%
45.6%
1970 - 1999
45.7%
45.7%
1940 - 1969
7.0%
7.0%
1939 or Older
1.8%
1.8%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
77.3%
77.3%
Townhomes
3.0%
3.0%
Small Apt. Buildings
4.4%
4.4%
Apt. Complexes
6.1%
6.1%
Mobile Homes
7.2%
7.2%
Other
2.0%
2.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.3%
0.3%
1 Bedroom
4.6%
4.6%
2 Bedrooms
14.0%
14.0%
3 Bedrooms
45.2%
45.2%
4 Bedrooms
29.3%
29.3%
5 or more bedrooms
6.7%
6.7%
0.0% 100.0%
% OF HOMES