Carnation, WA—98014
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Carnation, WA
As of Oct '25, the median home price in Carnation, WA is $1,013,000, with a year-over-year change of -0.2%. This indicates that home prices in Carnation, WA are flat. According to Zillow, the 1-year price projection is 0.3%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $1,013,000 | -0.2% |
| Single Family | $1,013,000 | -0.5% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $681,000 | 0.4% |
3 Bed | $905,000 | -1.1% |
4 Bed | $1,211,000 | 0.8% |
| 5 Bed | $1,277,000 | 0.6% |
% of Housing Stock
Rental Trends — Carnation, WA
As of July '25, Rentcast reports the average rent in Carnation, WA is $2,980, with a year-over-year rent change of -14.9%. Per bedroom, the median rent as of July '25 in Carnation, WA is 2-bedrooms: $2,200, 3-bedrooms: $3,360. The most common rental property sizes in Carnation, WA are 2-bedroom and studio, accounting for 34.5% and 24.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $3,130 | $2,980 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $2,200 | $2,200 |
| 3 Bed Rent | $3,130 | $3,360 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Carnation, WA
As of Oct '25, Realtor.com reports that the median days on market for a home in Carnation, WA is 82. This is a increase of 65.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 5.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $1,210,000 | 7.0% |
Listing Count | 75 | 57.0% |
| Listings as % of Homes | 0.6% | 57.0% |
Days on Market | 82 | 65.0% |
Demographics — Carnation, WA
As of the latest ACS Survey released in 2023, Carnation, WA has a population of 7,680, which has increased by 11.1% over the past 5 years. Carnation, WA is a moderately popular place for families, as children make up 23.7% of the population. The area has a highly educated workforce, with 48.2% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 28.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 7,680 | 11.1% |
% Under 18 | 23.7% | 35.4% |
% Seniors | 14.7% | -3.3% |
% WFH | 28.5% | 133.6% |
% w/ College Degree | 48.2% | 12.6% |
As of the latest ACS Survey released in 2023, Carnation, WA is a predominantly white area, with 82.7% of the population identifying as white. The white population has shrunk by 4.7% in the last 5 years. The second most common race or ethnicity in Carnation, WA is hispanic, making up 8.9% of the population. Foreign-born residents account for 8.0% of the population in Carnation, WA, and this percentage has increased by 5.3% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 82.7% | -4.7% |
% Black | 0.2% | -77.8% |
% Hispanic | 8.9% | 21.9% |
% Asian | 4.8% | 220.0% |
% Foreign Born | 8.0% | 5.3% |
Mortgage and Risk — Carnation, WA
According to HUD data as of 2023, there were 117 mortgage originations in Carnation, WA, of which 92.0% of loans were conventional mortgages. The average loan-to-value was 46.0%, with 9.0% above 90% LTV (normal). This implies small mortgage risk in Carnation, WA. Investor activity is low, as 1.0% of loans were by investors. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 117 |
% Conventional Loans | 92.0% |
% Government Loans | 8.0% |
% Investor Loans | 1.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Carnation, WA
Carnation, WA lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 1 |
Total Units Section 8 | 1 |
% Rentals under Section 8 | 0.4% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $2,110 |
| 2 Bedroom | $260 | $2,200 | $2,460 |
| 3 Bedroom | $110 | $3,130 | $3,240 |
| 4 Bedroom | N/A | N/A | $3,780 |
Affordability — Carnation, WA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 6 |
| Median Home Price | $1,013,000 |
| Median Household Income | $158,000 |