Kenmore, WA—98028
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Kenmore, WA
As of Oct '25, the median home price in Kenmore, WA is $1,013,000, with a year-over-year change of 0.1%. This indicates that home prices in Kenmore, WA are flat. According to Zillow, the 1-year price projection is -0.2%, 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 | 0.1% |
| Single Family | $1,072,000 | -0.5% |
| Condos | $465,000 | -3.7% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $308,000 | -7.5% |
2 Bed | $614,000 | -0.2% |
3 Bed | $926,000 | -0.9% |
4 Bed | $1,172,000 | -0.3% |
| 5 Bed | $1,374,000 | -0.2% |
% of Housing Stock
Rental Trends — Kenmore, WA
As of July '25, Rentcast reports the average rent in Kenmore, WA is $2,880, with a year-over-year rent change of -8.9%. Per bedroom, the median rent as of July '25 in Kenmore, WA is 1-bedrooms: $1,870, 2-bedrooms: $2,330, 3-bedrooms: $3,510, 4-bedrooms: $3,920. The most common rental property sizes in Kenmore, WA are 2-bedroom and 1-bedroom, accounting for 34.6% and 31.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,900 | $2,880 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,790 | $1,870 |
| 2 Bed Rent | $2,150 | $2,330 |
| 3 Bed Rent | $3,450 | $3,510 |
| 4 Bed Rent | $3,750 | $3,920 |
% of Rental Stock
Property Listings — Kenmore, WA
As of Oct '25, Realtor.com reports that the median days on market for a home in Kenmore, WA is 44. This is a decrease of -1.0% from last year, suggesting that homes are sitting on the market about the same amount of time than last year. The percentage of listed homes with a reduced price is 35.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $991,000 | 7.0% |
Listing Count | 97 | 22.0% |
| Listings as % of Homes | 0.5% | 22.0% |
Days on Market | 44 | -1.0% |
Demographics — Kenmore, WA
As of the latest ACS Survey released in 2023, Kenmore, WA has a population of 23,600, which has increased by 4.8% over the past 5 years. Kenmore, WA is a moderately popular place for families, as children make up 21.4% of the population. The area has a highly educated workforce, with 57.2% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 29.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 23,600 | 4.8% |
% Under 18 | 21.4% | -3.6% |
% Seniors | 16.7% | 21.0% |
% WFH | 29.8% | 254.8% |
% w/ College Degree | 57.2% | -0.2% |
As of the latest ACS Survey released in 2023, Kenmore, WA is a predominantly white area, with 64.3% of the population identifying as white. The white population has shrunk by 13.8% in the last 5 years. The second most common race or ethnicity in Kenmore, WA is asian, making up 14.7% of the population. Foreign-born residents account for 22.3% of the population in Kenmore, WA, and this percentage has increased by 28.2% 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 | 64.3% | -13.8% |
% Black | 3.1% | 121.4% |
% Hispanic | 10.7% | 30.5% |
% Asian | 14.7% | 26.7% |
% Foreign Born | 22.3% | 28.2% |
Mortgage and Risk — Kenmore, WA
According to HUD data as of 2023, there were 507 mortgage originations in Kenmore, WA, of which 97.0% of loans were conventional mortgages. The average loan-to-value was 53.0%, with 7.0% above 90% LTV (normal). This implies small mortgage risk in Kenmore, WA. Investor activity is low, as 2.0% of loans were by investors. 6.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 507 |
% Conventional Loans | 97.0% |
% Government Loans | 3.0% |
% Investor Loans | 2.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 6.0% |
Loan Activity
Rentals and Section 8 — Kenmore, WA
As of 2024, the percent of homes in Kenmore, WA under the Section 8 program is 3.0%. 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. 1-bedroom and 2-bedroom and 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Kenmore, WA, because HUD payments exceed market rent, while 3-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 119 |
Total Units Section 8 | 85 |
% Rentals under Section 8 | 3.0% |
% Occupied Section 8 | 100.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $400 | $1,790 | $2,190 |
| 2 Bedroom | $400 | $2,150 | $2,550 |
| 3 Bedroom | -$90 | $3,450 | $3,360 |
| 4 Bedroom | $170 | $3,750 | $3,920 |
Affordability — Kenmore, WA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 6.7 |
| Median Home Price | $1,013,000 |
| Median Household Income | $138,000 |