Redmond, WA—98052
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in Redmond, WA
Home Price Trends — Redmond, WA
As of Oct '25, the median home price in Redmond, WA is $1,310,000, with a year-over-year change of 0.4%. This indicates that home prices in Redmond, 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 | $1,310,000 | 0.4% |
| Single Family | $1,493,000 | -0.1% |
| Condos | $569,000 | -4.5% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $375,000 | -6.0% |
2 Bed | $664,000 | -3.2% |
3 Bed | $1,213,000 | 0.0% |
4 Bed | $1,697,000 | -0.1% |
| 5 Bed | $1,996,000 | -0.9% |
% of Housing Stock
Rental Trends — Redmond, WA
As of July '25, Rentcast reports the average rent in Redmond, WA is $2,910, with a year-over-year rent change of -11.8%. Per bedroom, the median rent as of July '25 in Redmond, WA is studios: $1,900, 1-bedrooms: $2,240, 2-bedrooms: $2,740, 3-bedrooms: $3,750, 4-bedrooms: $4,520. The most common rental property sizes in Redmond, WA are 2-bedroom and 1-bedroom, accounting for 37.7% and 32.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,400 | $2,910 |
| Studio Rent | $1,940 | $1,900 |
| 1 Bed Rent | $2,100 | $2,240 |
| 2 Bed Rent | $2,630 | $2,740 |
| 3 Bed Rent | $3,600 | $3,750 |
| 4 Bed Rent | $4,400 | $4,520 |
% of Rental Stock
Property Listings — Redmond, WA
As of Oct '25, Realtor.com reports that the median days on market for a home in Redmond, WA is 51. This is a increase of 14.0% 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 30.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $1,320,000 | 8.0% |
Listing Count | 205 | 3.0% |
| Listings as % of Homes | 0.2% | 3.0% |
Days on Market | 51 | 14.0% |
Demographics — Redmond, WA
As of the latest ACS Survey released in 2023, Redmond, WA has a population of 79,100, which has increased by 16.7% over the past 5 years. Redmond, WA is a moderately popular place for families, as children make up 21.6% of the population. The area has a highly educated workforce, with 74.8% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 34.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 79,100 | 16.7% |
% Under 18 | 21.6% | -7.3% |
% Seniors | 11.0% | 3.8% |
% WFH | 34.8% | 427.3% |
% w/ College Degree | 74.8% | 5.2% |
As of the latest ACS Survey released in 2023, Redmond, WA is a predominantly white area, with 47.4% of the population identifying as white. The white population has shrunk by 9.2% in the last 5 years. The second most common race or ethnicity in Redmond, WA is asian, making up 38.5% of the population. Foreign-born residents account for 43.7% of the population in Redmond, WA, and this percentage has increased by 11.2% 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 | 47.4% | -9.2% |
% Black | 2.1% | 10.5% |
% Hispanic | 6.7% | -6.9% |
% Asian | 38.5% | 11.9% |
% Foreign Born | 43.7% | 11.2% |
Mortgage and Risk — Redmond, WA
According to HUD data as of 2023, there were 392 mortgage originations in Redmond, WA, of which 97.0% of loans were conventional mortgages. The average loan-to-value was 57.0%, with 5.0% above 90% LTV (normal). This implies small mortgage risk in Redmond, 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 | 392 |
% Conventional Loans | 97.0% |
% Government Loans | 3.0% |
% Investor Loans | 2.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 6.0% |
Loan Activity
Rentals and Section 8 — Redmond, WA
As of 2024, the percent of homes in Redmond, WA under the Section 8 program is 3.7%. 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 Redmond, 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 | 693 |
Total Units Section 8 | 649 |
% Rentals under Section 8 | 3.7% |
% Occupied Section 8 | 100.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $670 | $2,100 | $2,770 |
| 2 Bedroom | $600 | $2,630 | $3,230 |
| 3 Bedroom | $660 | $3,600 | $4,260 |
| 4 Bedroom | $560 | $4,400 | $4,960 |
Affordability — Redmond, WA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 7.2 |
| Median Home Price | $1,310,000 |
| Median Household Income | $165,000 |