Housing

Housing Market

Average Selling Price (March 2016) $233,900
Number of Active Residential Listings (SFR, March 2016) 513
Average Apartment Rent (2 Bedroom, 2 Bath) $793
Source: Tri-City Association of Realtors, May 2016, ACCRA Cost of Living Index, 2016 Annual Average Data, Published January 2016

 

Residential Housing Statistics

Month Active Listings Total Sold Average Sales Price Median Sales Price Under Contract
Jan 586 230 $239,800 $225,200 301
Feb 526 257 $230,100 $218,000 372
Mar 513 353 $233,900 $217,400 480
Source:  Tri-City Association of Realtors, May 2016

 

Housing Units

1990 Census 2000 Census 2010 Census 2015 Estimate 2020 Projection
Total Housing Units 58,538 72,047 93,041 100,086 109,654
Owner-Occupied 58.0% 64.0% 64.5% 68.46% 67.25%
Renter-Occupied 35.0% 30.0% 30.7% 31.54% 32.75%
Vacant 7.0% 6.0% 4.8% 2.99% 2.89%
Source: www.trytricitiessites.org / Applied Geographic Solutions, 2015

 

Residential Building Permit Statistics

April 2016 2016 Year-to-Date  2015 Year-to-Date
Permits Valuation Permits Valuation Permits Valuation
Benton County 18 4,517,950 80 23,695,784 50 16,780,571
Franklin County 8 2,524,978 30 10,951,044 22 7,865,158
Kennewick 34 9,726,374 126 32,769,879 102 25,004,675
Pasco 34 7,379,454 118 29,580,481 74 18,146,079
Richland 24 8,139,808 85 28,209,094 53 18,902,741
West Richland 11 3,572,000 38 11,786,000 46 14,640,000
Total SFR 130 36,035,140 487 139,319,022 355 102,776,322
Source: Home Builders Association of Tri-Cities and Walla Walla, May 2016

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