Kent, WA—98032
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 $526,000, with a year-over-year change of -1.7%. This indicates that home prices in Kent, WA are decreasing. 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 | $526,000 | -1.7% |
| Single Family | $577,000 | -1.5% |
| Condos | $408,000 | -4.0% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $295,000 | -3.9% |
2 Bed | $384,000 | -3.5% |
3 Bed | $541,000 | -1.6% |
4 Bed | $647,000 | -1.7% |
| 5 Bed | $709,000 | -1.9% |
% of Housing Stock
Rental Trends — Kent, WA
As of July '25, Rentcast reports the average rent in Kent, WA is $2,070, with a year-over-year rent change of -5.9%. Per bedroom, the median rent as of July '25 in Kent, WA is studios: $1,680, 1-bedrooms: $1,540, 2-bedrooms: $2,260, 3-bedrooms: $2,810, 4-bedrooms: $3,640. The most common rental property sizes in Kent, WA are 2-bedroom and 1-bedroom, accounting for 38.6% and 35.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,790 | $2,070 |
| Studio Rent | $1,600 | $1,680 |
| 1 Bed Rent | $1,550 | $1,540 |
| 2 Bed Rent | $2,250 | $2,260 |
| 3 Bed Rent | $2,900 | $2,810 |
| 4 Bed Rent | $3,700 | $3,640 |
% 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 69. This is a increase of 11.0% 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 38.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $524,000 | -11.0% |
Listing Count | 84 | 6.0% |
| Listings as % of Homes | 0.2% | 6.0% |
Days on Market | 69 | 11.0% |
Demographics — Kent, WA
As of the latest ACS Survey released in 2023, Kent, WA has a population of 40,200, which has increased by 5.6% over the past 5 years. Kent, WA is a moderately popular place for families, as children make up 24.3% of the population. The area has a moderately educated workforce, with 27.7% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 11.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 40,200 | 5.6% |
% Under 18 | 24.3% | 0.4% |
% Seniors | 10.1% | 1.0% |
% WFH | 11.2% | 300.0% |
% w/ College Degree | 27.7% | 19.9% |
As of the latest ACS Survey released in 2023, Kent, WA is a predominantly white area, with 32.1% of the population identifying as white. The white population has shrunk by 23.4% in the last 5 years. The second most common race or ethnicity in Kent, WA is hispanic, making up 24.3% of the population. Foreign-born residents account for 33.4% of the population in Kent, WA, and this percentage has increased by 22.8% 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 | 32.1% | -23.4% |
% Black | 16.2% | 17.4% |
% Hispanic | 24.3% | 3.4% |
% Asian | 16.6% | 55.1% |
% Foreign Born | 33.4% | 22.8% |
Mortgage and Risk — Kent, WA
According to HUD data as of 2023, there were 350 mortgage originations in Kent, WA, of which 87.0% of loans were conventional mortgages. The average loan-to-value was 60.0%, with 27.0% above 90% LTV (very high). This implies large mortgage risk in Kent, WA. Investor activity is low, as 3.0% 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 | 350 |
% Conventional Loans | 87.0% |
% Government Loans | 13.0% |
% Investor Loans | 3.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Kent, WA
As of 2024, the percent of homes in Kent, WA under the Section 8 program is 7.9%. 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 | 678 |
Total Units Section 8 | 670 |
% Rentals under Section 8 | 7.9% |
% Occupied Section 8 | 100.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $530 | $1,550 | $2,080 |
| 2 Bedroom | $170 | $2,250 | $2,420 |
| 3 Bedroom | $290 | $2,900 | $3,190 |
| 4 Bedroom | $20 | $3,700 | $3,720 |
Affordability — Kent, WA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 6.6 |
| Median Home Price | $526,000 |
| Median Household Income | $77,400 |