You Won’t Believe Where Your 2023 Home Values Are Now in Washington State

How Much Does The Average Home Cost In Washington State?

So I ripped open my most recent property valuation from Benton County and was shocked by how much my home value has increased in Kennewick.

Washington State Ranks 8th In The Nation For The Highest Rising Home Values

I first bought our place in 2015 for $220,000 in Kennewick near 27th Avenue. Our realtor said that was the "sweet" spot of homes that went quickly in the Tri-Cities.

She said anything from $165,000 to $250,000 almost gets snapped up instantly.

Our next-door neighbors recently put their home up for sale for $399,000 and it sold within days.

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As you can see, home values have escalated in Washington State. It got me thinking, how much has the average value of a home in Washington State and I did a little bit of research and came up with some numbers for you.

A recent article and survey by TexasRealEstateSource.com compared ZIP code home price data between 2016 and 2023 to find the states where homes have experienced the largest percentage increase in value.

You guessed it, Washington State ranks in the top 8 of states where homes have increased rapidly.

Here's what the survey said about Washington State:

Washington takes eighth place. Washington has seen average home prices increase by 79% from $271,800 in 2016 to $485,700 in 2023. The 98593 ZIP code, encompassing Vader has seen the biggest surge in average value in the state, increasing by 179% from 2016 to 2023.

As you can see, that's quite a jump from year to year. I know that the average home price in Kennewick is now $401,000 compared to that "sweet" spot of $220,000 when I bought my home.

Those rising home values are an explanation of why when you are opening up your property tax bill, you are getting sticker shock. you can read more details about the survey here.