Renton, WA—98059
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 $943,000, with a year-over-year change of -0.8%. This indicates that home prices in Renton, WA are flat. According to Zillow, the 1-year price projection is -0.1%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $943,000 | -0.8% |
| Single Family | $978,000 | -0.8% |
| Condos | $454,000 | -3.8% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $352,000 | -4.9% |
2 Bed | $539,000 | -1.5% |
3 Bed | $765,000 | -1.7% |
4 Bed | $1,079,000 | -0.2% |
| 5 Bed | $1,345,000 | 0.1% |
% of Housing Stock
Rental Trends — Renton, WA
As of July '25, Rentcast reports the average rent in Renton, WA is $3,060, with a year-over-year rent change of -5.3%. Per bedroom, the median rent as of July '25 in Renton, WA is studios: $1,780, 1-bedrooms: $1,730, 2-bedrooms: $2,400, 3-bedrooms: $3,260, 4-bedrooms: $3,940. The most common rental property sizes in Renton, WA are 2-bedroom and 1-bedroom, accounting for 38.4% and 22.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $3,000 | $3,060 |
| Studio Rent | $1,820 | $1,780 |
| 1 Bed Rent | $1,780 | $1,730 |
| 2 Bed Rent | $2,350 | $2,400 |
| 3 Bed Rent | $3,300 | $3,260 |
| 4 Bed Rent | $3,900 | $3,940 |
% 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 50. This is a increase of 44.0% 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 | $937,000 | 6.0% |
Listing Count | 131 | 32.0% |
| Listings as % of Homes | 0.4% | 32.0% |
Days on Market | 50 | 44.0% |
Demographics — Renton, WA
As of the latest ACS Survey released in 2023, Renton, WA has a population of 41,600, which has increased by 8.5% over the past 5 years. Renton, WA is a moderately popular place for families, as children make up 24.7% of the population. The area has a highly educated workforce, with 50.7% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 21.3% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 41,600 | 8.5% |
% Under 18 | 24.7% | -0.8% |
% Seniors | 12.6% | 3.3% |
% WFH | 21.3% | 238.1% |
% w/ College Degree | 50.7% | 12.9% |
As of the latest ACS Survey released in 2023, Renton, WA is a predominantly white area, with 48.0% of the population identifying as white. The white population has shrunk by 15.2% in the last 5 years. The second most common race or ethnicity in Renton, WA is asian, making up 29.1% of the population. Foreign-born residents account for 23.2% of the population in Renton, WA, and this percentage has decreased by 0.9% 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 | 48.0% | -15.2% |
% Black | 2.0% | -44.4% |
% Hispanic | 9.2% | 2.2% |
% Asian | 29.1% | 18.3% |
% Foreign Born | 23.2% | -0.9% |
Mortgage and Risk — Renton, WA
According to HUD data as of 2023, there were 582 mortgage originations in Renton, WA, of which 94.0% of loans were conventional mortgages. The average loan-to-value was 50.0%, with 9.0% above 90% LTV (normal). This implies small mortgage risk in Renton, WA. Investor activity is low, as 1.0% 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 | 582 |
% Conventional Loans | 94.0% |
% Government Loans | 6.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Renton, WA
As of 2024, the percent of homes in Renton, WA under the Section 8 program is 3.8%. 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 | 122 |
Total Units Section 8 | 122 |
% Rentals under Section 8 | 3.8% |
% Occupied Section 8 | 96.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $680 | $1,780 | $2,460 |
| 2 Bedroom | $510 | $2,350 | $2,860 |
| 3 Bedroom | $470 | $3,300 | $3,770 |
| 4 Bedroom | $490 | $3,900 | $4,390 |
Affordability — Renton, WA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 6.6 |
| Median Home Price | $943,000 |
| Median Household Income | $134,000 |