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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.



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 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

Lake Stevens, WA Housing Market Trends

With 39,848 people, 13,097 houses or apartments, and a median cost of homes of $686,664, Lake Stevens house prices are not only among the most expensive in Washington, Lake Stevens 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 Lake Stevens, accounting for 81.97% of the city's housing units. Other types of housing that are prevalent in Lake Stevens include duplexes, homes converted to apartments or other small apartment buildings ( 7.74%), row houses and other attached homes ( 5.07%), and a few large apartment complexes or high rise apartments ( 3.09%).

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 76.26% of Lake Stevens's homes, and 76.65% 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 ( 39.34%). A lesser amount of the housing stock also hails from between 1940-1969 ( 11.09%). There's also some housing in Lake Stevens built before 1939 ( 3.96%).

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 134.48% over the last ten years, which is an average annual home appreciation rate of 8.90%, 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.

Over the last year, Lake Stevens appreciation rates have trailed the rest of the nation. In the last twelve months, Lake Stevens's appreciation rate has been -0.38%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Lake Stevens were at -1.24%, which equates to an annual appreciation rate of -4.88%.

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

Relative to Washington, our data show that Lake Stevens'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 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

$686,664

Lake Stevens, WA Home Prices
> $1,245,000
$934,001 - $1,245,000
$623,001 - $934,000
$498,001 - $623,000
$374,001 - $498,000
$249,001 - $374,000
$124,001 - $249,000
$62,001 - $124,000
$0 - $62,000
4.7%
4.7%
10.9%
10.9%
38.1%
38.1%
28.0%
28.0%
10.1%
10.1%
3.3%
3.3%
2.1%
2.1%
1.4%
1.4%
1.4%
1.4%
0% 100.0%
% of Homes
Very High

for Washington

Very High

for nation

Number of Homes And Apartments:

13,097

Lake Stevens Appreciation Rates

Rent & Ownership

Average Market Rent:

$3,214 / per month

Homeownership Rate

Owners
Renters
76.3%
76.3%
23.7%
23.7%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
3.8%
3.8%
96.2%
96.2%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
39.3%
39.3%
45.6%
45.6%
11.1%
11.1%
4.0%
4.0%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
82.0%
82.0%
5.1%
5.1%
7.7%
7.7%
3.1%
3.1%
2.1%
2.1%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.6%
0.6%
2.1%
2.1%
13.1%
13.1%
52.3%
52.3%
24.4%
24.4%
7.5%
7.5%
0% 100.0%
% of Homes