Renton, WA—98055
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Renton, WA
As of Oct '25, the median home price in Renton, WA is $639,000, with a year-over-year change of -1.7%. This indicates that home prices in Renton, WA are decreasing. 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 | $639,000 | -1.7% |
| Single Family | $706,000 | -2.1% |
| Condos | $375,000 | -3.8% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $278,000 | 0.0% |
2 Bed | $399,000 | -3.4% |
3 Bed | $620,000 | -2.4% |
4 Bed | $773,000 | -2.0% |
| 5 Bed | $856,000 | -2.3% |
% of Housing Stock
Rental Trends — Renton, WA
As of July '25, Rentcast reports the average rent in Renton, WA is $2,330, with a year-over-year rent change of -15.0%. Per bedroom, the median rent as of July '25 in Renton, WA is 1-bedrooms: $1,750, 2-bedrooms: $2,320, 3-bedrooms: $2,930, 4-bedrooms: $3,340. The most common rental property sizes in Renton, WA are 2-bedroom and 1-bedroom, accounting for 34.7% and 32.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,240 | $2,330 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,730 | $1,750 |
| 2 Bed Rent | $2,400 | $2,320 |
| 3 Bed Rent | $2,800 | $2,930 |
| 4 Bed Rent | $3,400 | $3,340 |
% of Rental Stock
Property Listings — Renton, WA
As of Oct '25, Realtor.com reports that the median days on market for a home in Renton, WA is 48. This is a increase of 34.0% 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 33.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $594,000 | 6.0% |
Listing Count | 49 | 1.0% |
| Listings as % of Homes | 0.3% | 1.0% |
Days on Market | 48 | 34.0% |
Demographics — Renton, WA
As of the latest ACS Survey released in 2023, Renton, WA has a population of 24,900, which has increased by 2.6% over the past 5 years. Renton, WA is a moderately popular place for families, as children make up 20.6% of the population. The area has a moderately educated workforce, with 39.0% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 23.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 24,900 | 2.6% |
% Under 18 | 20.6% | 0.5% |
% Seniors | 12.3% | 4.2% |
% WFH | 23.0% | 447.6% |
% w/ College Degree | 39.0% | 9.6% |
As of the latest ACS Survey released in 2023, Renton, WA is a predominantly white area, with 36.5% of the population identifying as white. The white population has shrunk by 8.8% in the last 5 years. The second most common race or ethnicity in Renton, WA is asian, making up 27.6% of the population. Foreign-born residents account for 27.8% of the population in Renton, WA, and this percentage has decreased by 9.4% 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 | 36.5% | -8.8% |
% Black | 9.7% | -20.5% |
% Hispanic | 13.3% | 58.3% |
% Asian | 27.6% | 0.0% |
% Foreign Born | 27.8% | -9.4% |
Mortgage and Risk — Renton, WA
According to HUD data as of 2023, there were 284 mortgage originations in Renton, WA, of which 87.0% of loans were conventional mortgages. The average loan-to-value was 58.0%, with 21.0% above 90% LTV (very high). This implies large mortgage risk in Renton, 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 | 284 |
% Conventional Loans | 87.0% |
% Government Loans | 13.0% |
% Investor Loans | 2.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 6.0% |
Loan Activity
Rentals and Section 8 — Renton, WA
As of 2024, the percent of homes in Renton, WA under the Section 8 program is 5.4%. 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 Renton, 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 | 293 |
Total Units Section 8 | 216 |
% Rentals under Section 8 | 5.4% |
% Occupied Section 8 | 90.9% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $630 | $1,730 | $2,360 |
| 2 Bedroom | $350 | $2,400 | $2,750 |
| 3 Bedroom | $830 | $2,800 | $3,630 |
| 4 Bedroom | $830 | $3,400 | $4,230 |
Affordability — Renton, WA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 6.1 |
| Median Home Price | $639,000 |
| Median Household Income | $100,000 |