Anacortes, WA—98221
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Anacortes, WA
As of Oct '25, the median home price in Anacortes, WA is $710,000, with a year-over-year change of -0.8%. This indicates that home prices in Anacortes, WA are flat. According to Zillow, the 1-year price projection is 1.0%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $710,000 | -0.8% |
| Single Family | $720,000 | -0.7% |
| Condos | $518,000 | -1.0% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $503,000 | -2.3% |
2 Bed | $607,000 | -0.8% |
3 Bed | $734,000 | -0.7% |
4 Bed | $880,000 | 0.0% |
| 5 Bed | $997,000 | -0.4% |
% of Housing Stock
Rental Trends — Anacortes, WA
As of July '25, Rentcast reports the average rent in Anacortes, WA is $2,670, with a year-over-year rent change of 0.4%. Per bedroom, the median rent as of July '25 in Anacortes, WA is studios: $1,440, 1-bedrooms: $1,820, 2-bedrooms: $2,460, 3-bedrooms: $3,060, 4-bedrooms: $3,380. The most common rental property sizes in Anacortes, WA are 2-bedroom and 3-bedroom, accounting for 30.5% and 28.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,800 | $2,670 |
| Studio Rent | $1,380 | $1,440 |
| 1 Bed Rent | $1,850 | $1,820 |
| 2 Bed Rent | $2,300 | $2,460 |
| 3 Bed Rent | $3,000 | $3,060 |
| 4 Bed Rent | $3,400 | $3,380 |
% of Rental Stock
Property Listings — Anacortes, WA
As of Oct '25, Realtor.com reports that the median days on market for a home in Anacortes, WA is 58. This is a decrease of -8.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 14.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $888,000 | -9.0% |
Listing Count | 155 | 17.0% |
| Listings as % of Homes | 0.5% | 17.0% |
Days on Market | 58 | -8.0% |
Demographics — Anacortes, WA
As of the latest ACS Survey released in 2023, Anacortes, WA has a population of 23,200, which has increased by 8.4% over the past 5 years. Anacortes, WA is a moderately popular place for families, as children make up 16.8% of the population. The area has a highly educated workforce, with 45.6% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 16.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 23,200 | 8.4% |
% Under 18 | 16.8% | -2.9% |
% Seniors | 31.5% | 9.8% |
% WFH | 16.1% | 71.3% |
% w/ College Degree | 45.6% | 9.1% |
As of the latest ACS Survey released in 2023, Anacortes, WA is a predominantly white area, with 87.4% of the population identifying as white. The white population has shrunk by 1.6% in the last 5 years. The second most common race or ethnicity in Anacortes, WA is hispanic, making up 4.7% of the population. Foreign-born residents account for 5.5% of the population in Anacortes, WA, and this percentage has decreased by 17.9% 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 | 87.4% | -1.6% |
% Black | 0.7% | 40.0% |
% Hispanic | 4.7% | 4.4% |
% Asian | 1.5% | -42.3% |
% Foreign Born | 5.5% | -17.9% |
Mortgage and Risk — Anacortes, WA
According to HUD data as of 2023, there were 400 mortgage originations in Anacortes, WA, of which 88.0% of loans were conventional mortgages. The average loan-to-value was 49.0%, with 10.0% above 90% LTV (elevated). This implies medium mortgage risk in Anacortes, WA. Investor activity is low, as 3.0% of loans were by investors. 9.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 400 |
% Conventional Loans | 88.0% |
% Government Loans | 12.0% |
% Investor Loans | 3.0% |
% Second Loans | 4.0% |
% Cash Out Refinance | 9.0% |
Loan Activity
Rentals and Section 8 — Anacortes, WA
As of 2024, the percent of homes in Anacortes, 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 Anacortes, WA, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.
Section 8 Market Size
Total Units under HUD | 219 |
Total Units Section 8 | 108 |
% Rentals under Section 8 | 3.7% |
% Occupied Section 8 | 74.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$480 | $1,850 | $1,370 |
| 2 Bedroom | -$510 | $2,300 | $1,790 |
| 3 Bedroom | -$500 | $3,000 | $2,500 |
| 4 Bedroom | -$680 | $3,400 | $2,720 |
Affordability — Anacortes, WA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 7.4 |
| Median Home Price | $710,000 |
| Median Household Income | $92,900 |