Ferndale, WA—98248
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Ferndale, WA
As of Oct '25, the median home price in Ferndale, WA is $610,000, with a year-over-year change of 0.3%. This indicates that home prices in Ferndale, WA are flat. According to Zillow, the 1-year price projection is 0.9%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $610,000 | 0.3% |
| Single Family | $617,000 | 0.2% |
| Condos | $369,000 | 1.4% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $522,000 | -0.9% |
2 Bed | $483,000 | 0.4% |
3 Bed | $590,000 | 0.3% |
4 Bed | $691,000 | 0.0% |
| 5 Bed | $753,000 | -0.1% |
% of Housing Stock
Rental Trends — Ferndale, WA
As of July '25, Rentcast reports the average rent in Ferndale, WA is $2,180, with a year-over-year rent change of 2.8%. Per bedroom, the median rent as of July '25 in Ferndale, WA is studios: $1,250, 1-bedrooms: $1,600, 2-bedrooms: $1,740, 3-bedrooms: $2,420, 4-bedrooms: $3,040. The most common rental property sizes in Ferndale, WA are 2-bedroom and 3-bedroom, accounting for 34.4% and 32.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,050 | $2,180 |
| Studio Rent | $1,250 | $1,250 |
| 1 Bed Rent | $1,200 | $1,600 |
| 2 Bed Rent | $1,650 | $1,740 |
| 3 Bed Rent | $2,400 | $2,420 |
| 4 Bed Rent | $2,800 | $3,040 |
% of Rental Stock
Property Listings — Ferndale, WA
As of Oct '25, Realtor.com reports that the median days on market for a home in Ferndale, WA is 61. This is a decrease of -3.0% 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 25.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $729,000 | 3.0% |
Listing Count | 121 | 23.0% |
| Listings as % of Homes | 0.6% | 23.0% |
Days on Market | 61 | -3.0% |
Demographics — Ferndale, WA
As of the latest ACS Survey released in 2023, Ferndale, WA has a population of 28,100, which has increased by 14.7% over the past 5 years. Ferndale, WA is a moderately popular place for families, as children make up 24.2% of the population. The area has a moderately educated workforce, with 31.0% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 12.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 28,100 | 14.7% |
% Under 18 | 24.2% | 3.9% |
% Seniors | 17.8% | 12.7% |
% WFH | 12.6% | 240.5% |
% w/ College Degree | 31.0% | 9.2% |
As of the latest ACS Survey released in 2023, Ferndale, WA is a predominantly white area, with 74.5% of the population identifying as white. The white population has shrunk by 5.7% in the last 5 years. The second most common race or ethnicity in Ferndale, WA is hispanic, making up 11.3% of the population. Foreign-born residents account for 12.0% of the population in Ferndale, WA, and this percentage has increased by 25.0% 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 | 74.5% | -5.7% |
% Black | 0.3% | -62.5% |
% Hispanic | 11.3% | 15.3% |
% Asian | 6.2% | 40.9% |
% Foreign Born | 12.0% | 25.0% |
Mortgage and Risk — Ferndale, WA
According to HUD data as of 2023, there were 540 mortgage originations in Ferndale, WA, of which 89.0% of loans were conventional mortgages. The average loan-to-value was 53.0%, with 17.0% above 90% LTV (elevated). This implies medium mortgage risk in Ferndale, 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 | 540 |
% Conventional Loans | 89.0% |
% Government Loans | 11.0% |
% Investor Loans | 1.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Ferndale, WA
As of 2024, the percent of homes in Ferndale, WA under the Section 8 program is 8.0%. 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. 1-bedroom units appear to be good home sizes to consider for Section 8 housing in Ferndale, WA, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 187 |
Total Units Section 8 | 187 |
% Rentals under Section 8 | 8.0% |
% Occupied Section 8 | 88.6% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $130 | $1,200 | $1,330 |
| 2 Bedroom | -$70 | $1,650 | $1,580 |
| 3 Bedroom | -$190 | $2,400 | $2,210 |
| 4 Bedroom | -$150 | $2,800 | $2,650 |
Affordability — Ferndale, WA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 6.5 |
| Median Home Price | $610,000 |
| Median Household Income | $88,600 |