Kent, WA—98031
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Kent, WA
As of Oct '25, the median home price in Kent, WA is $661,000, with a year-over-year change of -1.4%. This indicates that home prices in Kent, WA are decreasing. 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 | $661,000 | -1.4% |
| Single Family | $674,000 | -1.7% |
| Condos | $345,000 | -5.2% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $298,000 | -4.8% |
2 Bed | $356,000 | -4.6% |
3 Bed | $605,000 | -1.5% |
4 Bed | $720,000 | -1.6% |
| 5 Bed | $824,000 | -1.7% |
% of Housing Stock
Rental Trends — Kent, WA
As of July '25, Rentcast reports the average rent in Kent, WA is $2,520, with a year-over-year rent change of -0.8%. Per bedroom, the median rent as of July '25 in Kent, WA is studios: $1,380, 1-bedrooms: $1,410, 2-bedrooms: $2,000, 3-bedrooms: $3,010, 4-bedrooms: $3,530. The most common rental property sizes in Kent, WA are 2-bedroom and 3-bedroom, accounting for 42.1% and 25.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,080 | $2,520 |
| Studio Rent | $1,320 | $1,380 |
| 1 Bed Rent | $1,420 | $1,410 |
| 2 Bed Rent | $1,800 | $2,000 |
| 3 Bed Rent | $3,000 | $3,010 |
| 4 Bed Rent | $3,400 | $3,530 |
% of Rental Stock
Property Listings — Kent, WA
As of Oct '25, Realtor.com reports that the median days on market for a home in Kent, WA is 41. 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 28.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $719,000 | -1.0% |
Listing Count | 87 | -7.0% |
| Listings as % of Homes | 0.3% | -7.0% |
Days on Market | 41 | -7.0% |
Demographics — Kent, WA
As of the latest ACS Survey released in 2023, Kent, WA has a population of 40,900, which has increased by 11.3% over the past 5 years. Kent, WA is a moderately popular place for families, as children make up 23.8% of the population. The area has a moderately educated workforce, with 30.4% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 13.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 40,900 | 11.3% |
% Under 18 | 23.8% | 0.8% |
% Seniors | 12.1% | 5.2% |
% WFH | 13.0% | 195.5% |
% w/ College Degree | 30.4% | 9.4% |
As of the latest ACS Survey released in 2023, Kent, WA is a predominantly white area, with 35.6% of the population identifying as white. The white population has shrunk by 18.2% in the last 5 years. The second most common race or ethnicity in Kent, WA is asian, making up 26.8% of the population. Foreign-born residents account for 31.4% of the population in Kent, WA, and this percentage has decreased by 0.9% 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 | 35.6% | -18.2% |
% Black | 13.1% | 28.4% |
% Hispanic | 12.9% | -4.4% |
% Asian | 26.8% | 0.8% |
% Foreign Born | 31.4% | -0.9% |
Mortgage and Risk — Kent, WA
According to HUD data as of 2023, there were 565 mortgage originations in Kent, WA, of which 90.0% of loans were conventional mortgages. The average loan-to-value was 56.0%, with 19.0% above 90% LTV (elevated). This implies medium mortgage risk in Kent, WA. Investor activity is low, as 1.0% of loans were by investors. 9.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 565 |
% Conventional Loans | 90.0% |
% Government Loans | 10.0% |
% Investor Loans | 1.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 9.0% |
Loan Activity
Rentals and Section 8 — Kent, WA
As of 2024, the percent of homes in Kent, WA under the Section 8 program is 8.5%. 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 Kent, 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 | 606 |
Total Units Section 8 | 384 |
% Rentals under Section 8 | 8.5% |
% Occupied Section 8 | 100.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $640 | $1,420 | $2,060 |
| 2 Bedroom | $600 | $1,800 | $2,400 |
| 3 Bedroom | $160 | $3,000 | $3,160 |
| 4 Bedroom | $290 | $3,400 | $3,690 |
Affordability — Kent, WA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 6.3 |
| Median Home Price | $661,000 |
| Median Household Income | $101,000 |