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Renton, WA—98056

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$874,000
2.0% YoY Growth
Household Income
$109,000
27.5% YoY Growth
Days on Market
39
16.0% Longer YoY
Home Price Forecast
-2.1%
Median Rent
$2,620
1.1% YoY Growth
1-Bed Rent
$1,500
3.8% YoY Growth
2-Bed Rent
$2,100
8.1% YoY Growth
3-Bed Rent
$3,280
6.5% YoY Growth

Other Zip Codes in Renton, WA

98055980599805898057
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Renton, WA

As of May '26, the median home price in Renton, WA is $874,000, with a year-over-year change of -2.0%. This indicates that home prices in Renton, WA are decreasing. According to Zillow, the 1-year price projection is -2.1%, suggesting a decrease housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$874,000-2.0%
Single Family $927,000-2.1%
Condos $351,000-5.4%

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed
  • Affordability
  • Rentals and Section 8
    • $275,000
    -7.4%
    2 Bed
    		$473,000-2.1%
    3 Bed
    		$773,000-2.3%
    4 Bed
    		$1,118,000-2.2%
    5 Bed $1,401,487-2.2%
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    % of Housing Stock

    Studio
    7.6%
    1 Bedroom
    13.9%
    2 Bedrooms
    21.0%
    3 Bedrooms
    31.0%
    4 Bedrooms
    20.6%
    5+ Bedrooms
    5.9%

    Rental Trends — Renton, WA

    As of July '25, Rentcast reports the average rent in Renton, WA is $2,760, with a year-over-year rent change of -1.1%. Per bedroom, the median rent as of July '25 in Renton, WA is studios: $1,630, 1-bedrooms: $1,660, 2-bedrooms: $2,260, 3-bedrooms: $3,320, 4-bedrooms: $4,230. The most common rental property sizes in Renton, WA are 2-bedroom and 1-bedroom, accounting for 28.9% and 26.7% of the rental stock.

    TypeMedian RentAverage Rent
    Average Rent$2,620$2,760
    Studio Rent $1,620$1,630
    1 Bed Rent $1,500$1,660
    2 Bed Rent $2,100$2,260
    3 Bed Rent $3,280$3,320
    4 Bed Rent $3,950$4,230
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    % of Rental Stock

    Studio
    15.2%
    1 Bedroom
    26.7%
    2 Bedrooms
    28.9%
    3 Bedrooms
    17.7%
    4 Bedrooms
    9.8%
    5+ Bedrooms
    1.7%

    Property Listings — Renton, WA

    As of May '26, Realtor.com reports that the median days on market for a home in Renton, WA is 39. This is a increase of 16.0% 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 26.0%, representing a large inventory and a lot of supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$1,010,000-7.0%
    Listing Count
    		1241.0%
    Listings as % of Homes0.3%1.0%
    Days on Market
    		3916.0%
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    Demographics — Renton, WA

    As of the latest ACS Survey released in 2023, Renton, WA has a population of 36,900, which has increased by 4.2% over the past 5 years. Renton, WA is a moderately popular place for families, as children make up 19.8% of the population. The area has a moderately educated workforce, with 44.1% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 22.9% reporting working from home.

    MetricLatest CensusYoY % Change
    Population
    		36,9004.2%
    % Under 18
    		19.8%0.5%
    % Seniors
    		14.9%41.9%
    % WFH
    		22.9%308.9%
    % w/ College Degree
    		44.1%3.8%
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    As of the latest ACS Survey released in 2023, Renton, WA is a predominantly white area, with 43.4% of the population identifying as white. The white population has shrunk by 14.9% in the last 5 years. The second most common race or ethnicity in Renton, WA is asian, making up 25.9% of the population. Foreign-born residents account for 30.7% of the population in Renton, WA, and this percentage has increased by 5.1% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.

    Race and Ethnicity

    MetricLatest Census5-Year % Change
    % White
    		43.4%-14.9%
    % Black
    		6.8%6.2%
    % Hispanic
    		14.8%0.0%
    % Asian
    		25.9%15.6%
    % Foreign Born
    		30.7%5.1%
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    Mortgage and Risk — Renton, WA

    According to HUD data as of 2023, there were 432 mortgage originations in Renton, WA, of which 96.0% of loans were conventional mortgages. The average loan-to-value was 56.0%, with 14.0% above 90% LTV (elevated). This implies medium mortgage risk in Renton, WA. Investor activity is low, as 4.0% of loans were by investors. 6.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.

    Mortgages

    MetricZip Code Average
    Total Loan Originations
    		432
    % Conventional Loans
    		96.0%
    % Government Loans
    		4.0%
    % Investor Loans
    		4.0%
    % Second Loans
    		0.0%
    % Cash Out Refinance
    		6.0%
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    Rentals and Section 8 — Renton, WA

    As of 2024, the percent of homes in Renton, WA under the Section 8 program is 5.1%. 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
    		377
    Total Units Section 8
    		374
    % Rentals under Section 8
    		5.1%
    % Occupied Section 8
    		90.4%

    Section 8 Opportunity

    Home SizeHUD PremiumMarket RentMax HUD Rent
    1 Bedroom$760$1,500$2,260
    2 Bedroom$530$2,100$2,630
    3 Bedroom$190$3,280$3,470
    4 Bedroom$90$3,950$4,040

    Affordability — Renton, WA

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio7.7
    Median Home Price$874,000
    Median Household Income$109,000

    Renton, WA — ZIP Code Boundary Map

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    Frequently Asked Questions