Edmonds, 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

Edmonds, WA Housing Market Trends

With 42,605 people, 17,761 houses or apartments, and a median cost of homes of $687,657, Edmonds house prices are not only among the most expensive in Washington, Edmonds real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Edmonds, accounting for 59.17% of the city's housing units. Other types of housing that are prevalent in Edmonds include large apartment complexes or high rise apartments ( 30.60%), duplexes, homes converted to apartments or other small apartment buildings ( 6.37%), and a few row houses and other attached homes ( 3.24%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Edmonds. Owner-occupied housing accounts for 70.06% of Edmonds's homes, and 51.85% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Edmonds 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 Edmonds built between 1940-1969 ( 40.81%). A lesser amount of the housing stock also hails from between 2000 and later ( 13.43%). There's also some housing in Edmonds built before 1939 ( 3.49%).

Edmonds Home Appreciation Rates

In the last 10 years, Edmonds has experienced some of the highest home appreciation rates of any community in the nation. Edmonds real estate appreciated 87.94% over the last ten years, which is an average annual home appreciation rate of 6.51%, putting Edmonds in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Edmonds 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 Edmonds that despite a nationwide downturn in the housing market, Edmonds real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Edmonds appreciation rates continue to be some of the highest in America, at 6.60%, which is higher than appreciation rates in 78.49% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Edmonds. Edmonds appreciation rates in the latest quarter were at 2.43%, which equates to an annual appreciation rate of 10.07%.

Relative to Washington, our data show that Edmonds's latest annual appreciation rate is lower than 80% 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 Edmonds differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Edmonds - 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 Edmonds real estate investment or home purchase decisions.

Average Home Values

 
info

Median Home Value:
$687,657

Edmonds, WA HOME PRICES

> $1,247,000
8.4%
8.4%
$935,001 - $1,247,000
12.1%
12.1%
$623,001 - $935,000
33.4%
33.4%
$499,001 - $623,000
16.4%
16.4%
$374,001 - $499,000
16.8%
16.8%
$249,001 - $374,000
8.6%
8.6%
$125,001 - $249,000
3.6%
3.6%
$63,001 - $125,000
0.4%
0.4%
$0 - $63,000
0.4%
0.4%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

Very High for WA

Value Relative To Nation

Number Of Homes And Apartments:
17,761

Edmonds 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
162.82% 4.71%
10
10
* 10 is highest

Rent & Ownership

 
info

Average Market Rent:
$2,200 / per month

Homeownership Rate

Owners
70.1%
70.1%
Renters
29.9%
29.9%
Vacant
5.1%
5.1%
0.0% 100.0%
% OF HOMES

Housing Market Details

 
info

Age of Homes

2000 or Newer
13.4%
13.4%
1970 - 1999
42.3%
42.3%
1940 - 1969
40.8%
40.8%
1939 or Older
3.5%
3.5%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
59.2%
59.2%
Townhomes
3.2%
3.2%
Small Apt. Buildings
6.4%
6.4%
Apt. Complexes
30.6%
30.6%
Mobile Homes
0.4%
0.4%
Other
0.2%
0.2%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
2.0%
2.0%
1 Bedroom
11.8%
11.8%
2 Bedrooms
27.8%
27.8%
3 Bedrooms
32.3%
32.3%
4 Bedrooms
19.5%
19.5%
5 or more bedrooms
6.5%
6.5%
0.0% 100.0%
% OF HOMES