North Bend, WA—98045
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — North Bend, WA
As of Oct '25, the median home price in North Bend, WA is $982,000, with a year-over-year change of 0.7%. This indicates that home prices in North Bend, WA are flat. According to Zillow, the 1-year price projection is 0.0%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $982,000 | 0.7% |
| Single Family | $1,006,000 | 0.4% |
| Condos | $437,000 | -3.1% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $558,000 | 0.9% |
2 Bed | $662,000 | 2.0% |
3 Bed | $849,000 | 0.7% |
4 Bed | $1,261,000 | 0.9% |
| 5 Bed | $1,396,000 | 1.2% |
% of Housing Stock
Rental Trends — North Bend, WA
As of July '25, Rentcast reports the average rent in North Bend, WA is $3,430, with a year-over-year rent change of 11.4%. Per bedroom, the median rent as of July '25 in North Bend, WA is 1-bedrooms: $1,600, 2-bedrooms: $2,340, 3-bedrooms: $3,470, 4-bedrooms: $4,950. The most common rental property sizes in North Bend, WA are 2-bedroom and 1-bedroom, accounting for 43.1% and 24.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,980 | $3,430 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,600 | $1,600 |
| 2 Bed Rent | $2,400 | $2,340 |
| 3 Bed Rent | $2,980 | $3,470 |
| 4 Bed Rent | $4,900 | $4,950 |
% of Rental Stock
Property Listings — North Bend, WA
As of Oct '25, Realtor.com reports that the median days on market for a home in North Bend, WA is 50. This is a increase of 47.0% 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 21.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $1,350,000 | 29.0% |
Listing Count | 85 | 44.0% |
| Listings as % of Homes | 0.7% | 44.0% |
Days on Market | 50 | 47.0% |
Demographics — North Bend, WA
As of the latest ACS Survey released in 2023, North Bend, WA has a population of 15,700, which has increased by 6.2% over the past 5 years. North Bend, WA is a moderately popular place for families, as children make up 23.4% of the population. The area has a highly educated workforce, with 51.9% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 23.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 15,700 | 6.2% |
% Under 18 | 23.4% | -2.9% |
% Seniors | 13.0% | 31.3% |
% WFH | 23.7% | 132.4% |
% w/ College Degree | 51.9% | 24.5% |
As of the latest ACS Survey released in 2023, North Bend, WA is a predominantly white area, with 76.3% of the population identifying as white. The white population has shrunk by 12.0% in the last 5 years. The second most common race or ethnicity in North Bend, WA is hispanic, making up 10.4% of the population. Foreign-born residents account for 7.8% of the population in North Bend, WA, and this percentage has decreased by 4.9% 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 | 76.3% | -12.0% |
% Black | 0.5% | -73.7% |
% Hispanic | 10.4% | 38.7% |
% Asian | 4.2% | 180.0% |
% Foreign Born | 7.8% | -4.9% |
Mortgage and Risk — North Bend, WA
According to HUD data as of 2023, there were 402 mortgage originations in North Bend, WA, of which 93.0% of loans were conventional mortgages. The average loan-to-value was 53.0%, with 11.0% above 90% LTV (elevated). This implies medium mortgage risk in North Bend, 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 | 402 |
% Conventional Loans | 93.0% |
% Government Loans | 7.0% |
% Investor Loans | 1.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 7.0% |
Loan Activity
Rentals and Section 8 — North Bend, WA
As of 2024, the percent of homes in North Bend, WA under the Section 8 program is 4.6%. 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 3-bedroom units appear to be good home sizes to consider for Section 8 housing in North Bend, WA, because HUD payments exceed market rent, while 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 40 |
Total Units Section 8 | 40 |
% Rentals under Section 8 | 4.6% |
% Occupied Section 8 | 99.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $770 | $1,600 | $2,370 |
| 2 Bedroom | $360 | $2,400 | $2,760 |
| 3 Bedroom | $660 | $2,980 | $3,640 |
| 4 Bedroom | -$660 | $4,900 | $4,240 |
Affordability — North Bend, WA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.5 |
| Median Home Price | $982,000 |
| Median Household Income | $162,000 |