Bellevue, WA—98007
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Bellevue, WA
As of Oct '25, the median home price in Bellevue, WA is $1,010,000, with a year-over-year change of -0.6%. This indicates that home prices in Bellevue, WA are flat. According to Zillow, the 1-year price projection is -0.1%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $1,010,000 | -0.6% |
| Single Family | $1,336,000 | -0.3% |
| Condos | $461,000 | -5.9% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $307,000 | -6.7% |
2 Bed | $493,000 | -4.8% |
3 Bed | $1,131,000 | -0.6% |
4 Bed | $1,472,000 | 0.5% |
| 5 Bed | $1,718,000 | 0.9% |
% of Housing Stock
Rental Trends — Bellevue, WA
As of July '25, Rentcast reports the average rent in Bellevue, WA is $2,660, with a year-over-year rent change of -13.1%. Per bedroom, the median rent as of July '25 in Bellevue, WA is studios: $1,740, 1-bedrooms: $2,100, 2-bedrooms: $2,430, 3-bedrooms: $3,480, 4-bedrooms: $4,400. The most common rental property sizes in Bellevue, WA are 2-bedroom and 1-bedroom, accounting for 48.1% and 30.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,360 | $2,660 |
| Studio Rent | $1,860 | $1,740 |
| 1 Bed Rent | $2,010 | $2,100 |
| 2 Bed Rent | $2,370 | $2,430 |
| 3 Bed Rent | $3,450 | $3,480 |
| 4 Bed Rent | $4,200 | $4,400 |
% of Rental Stock
Property Listings — Bellevue, WA
As of Oct '25, Realtor.com reports that the median days on market for a home in Bellevue, WA is 49. This is a decrease of -7.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 31.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $542,000 | 8.0% |
Listing Count | 59 | 62.0% |
| Listings as % of Homes | 0.2% | 62.0% |
Days on Market | 49 | -7.0% |
Demographics — Bellevue, WA
As of the latest ACS Survey released in 2023, Bellevue, WA has a population of 26,800, which has decreased by -8.0% over the past 5 years. Bellevue, WA is a moderately popular place for families, as children make up 18.0% of the population. The area has a highly educated workforce, with 69.0% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 32.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 26,800 | -8.0% |
% Under 18 | 18.0% | -7.2% |
% Seniors | 11.1% | 13.3% |
% WFH | 32.8% | 465.5% |
% w/ College Degree | 69.0% | 3.9% |
As of the latest ACS Survey released in 2023, Bellevue, WA is a predominantly asian area, with 46.3% of the population identifying as asian. The asian population has grown by 6.4% in the last 5 years. The second most common race or ethnicity in Bellevue, WA is white, making up 30.8% of the population. Foreign-born residents account for 52.0% of the population in Bellevue, WA, and this percentage has decreased by 1.3% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 30.8% | -21.6% |
% Black | 5.5% | 83.3% |
% Hispanic | 11.9% | 16.7% |
% Asian | 46.3% | 6.4% |
% Foreign Born | 52.0% | -1.3% |
Mortgage and Risk — Bellevue, WA
According to HUD data as of 2023, there were 209 mortgage originations in Bellevue, WA, of which 98.0% of loans were conventional mortgages. The average loan-to-value was 57.0%, with 9.0% above 90% LTV (normal). This implies small mortgage risk in Bellevue, WA. Investor activity is low, as 1.0% of loans were by investors. 7.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 209 |
% Conventional Loans | 98.0% |
% Government Loans | 2.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 7.0% |
Loan Activity
Rentals and Section 8 — Bellevue, WA
As of 2024, the percent of homes in Bellevue, WA under the Section 8 program is 9.3%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Bellevue, WA, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 767 |
Total Units Section 8 | 666 |
% Rentals under Section 8 | 9.3% |
% Occupied Section 8 | 100.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $700 | $2,010 | $2,710 |
| 2 Bedroom | $790 | $2,370 | $3,160 |
| 3 Bedroom | $720 | $3,450 | $4,170 |
| 4 Bedroom | $660 | $4,200 | $4,860 |
Affordability — Bellevue, WA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 7.6 |
| Median Home Price | $1,010,000 |
| Median Household Income | $127,000 |