Steilacoom, 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

Steilacoom, WA Housing Market Trends

With 6,390 people, 2,495 houses or apartments, and a median cost of homes of $489,896, real estate costs in Steilacoom 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 Steilacoom, accounting for 70.32% of the town's housing units. Other types of housing that are prevalent in Steilacoom include large apartment complexes or high rise apartments ( 16.16%), row houses and other attached homes ( 6.69%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 6.58%).

The most prevalent building size and type in Steilacoom are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 64.75% owning and 35.25% renting.

There is a lot of housing in Steilacoom 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 Steilacoom built between 1940-1969 ( 22.25%). A lesser amount of the housing stock also hails from before 1939 ( 13.71%). There's also some housing in Steilacoom built between 2000 and later ( 7.62%).

Steilacoom Home Appreciation Rates

In the last 10 years, Steilacoom has experienced some of the highest home appreciation rates of any community in the nation. Steilacoom real estate appreciated 57.64% over the last ten years, which is an average annual home appreciation rate of 4.66%, putting Steilacoom in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Steilacoom 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 Steilacoom that despite a nationwide downturn in the housing market, Steilacoom real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Steilacoom appreciation rates continue to be some of the highest in America, at 6.77%, which is higher than appreciation rates in 83.75% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Steilacoom. Steilacoom appreciation rates in the latest quarter were at 2.60%, which equates to an annual appreciation rate of 10.80%.

Relative to Washington, our data show that Steilacoom's latest annual appreciation rate is lower than 60% of the other cities and towns in Washington.

Average Home Values

 

Median Home Value:
$489,896

Steilacoom, WA HOME PRICES

> $1,235,000
1.0%
1.0%
$926,001 - $1,235,000
4.9%
4.9%
$617,001 - $926,000
17.5%
17.5%
$494,001 - $617,000
14.3%
14.3%
$370,001 - $494,000
25.0%
25.0%
$247,001 - $370,000
23.9%
23.9%
$123,001 - $247,000
12.3%
12.3%
$62,001 - $123,000
0.7%
0.7%
$0 - $62,000
0.5%
0.5%
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:
2,495

Steilacoom 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
124.04% 3.92%
4
9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,772 / per month

Homeownership Rate

Owners
64.7%
64.7%
Renters
35.3%
35.3%
Vacant
7.3%
7.3%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
7.6%
7.6%
1970 - 1999
56.4%
56.4%
1940 - 1969
22.3%
22.3%
1939 or Older
13.7%
13.7%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
70.3%
70.3%
Townhomes
6.7%
6.7%
Small Apt. Buildings
6.6%
6.6%
Apt. Complexes
16.2%
16.2%
Mobile Homes
0.3%
0.3%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.5%
0.5%
1 Bedroom
11.6%
11.6%
2 Bedrooms
20.1%
20.1%
3 Bedrooms
41.4%
41.4%
4 Bedrooms
23.9%
23.9%
5 or more bedrooms
2.5%
2.5%
0.0% 100.0%
% OF HOMES

Popular Neighborhoods in Steilacoom

Zip Codes in Steilacoom, WA