Ferndale, WA 98248 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Ferndale, WA—98248

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$622,000

0.3% YoY Growth

Household Income

$88,600

25.4% YoY Growth

Days on Market

14.0% Longer YoY

Home Price Forecast

-1.1%

Median Rent

$2,050

2.8% YoY Growth

1-Bed Rent

$1,200

6.7% YoY Growth

2-Bed Rent

$1,650

8.7% YoY Growth

3-Bed Rent

$2,400

0.0% YoY Growth

Home Price Trends — Ferndale, WA

As of May '26, the median home price in Ferndale, WA is $622,000, 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 -1.1%, suggesting a decrease housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$622,000	0.3%
Single Family	$629,000	0.3%
Condos	$366,000	0.8%

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

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

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% of Rental Stock

Studio

6.1%

1 Bedroom

14.4%

2 Bedrooms

34.4%

3 Bedrooms

32.7%

4 Bedrooms

10.6%

5+ Bedrooms

1.9%

Property Listings — Ferndale, WA

As of May '26, Realtor.com reports that the median days on market for a home in Ferndale, WA is 32. This is a increase of 14.0% 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 18.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$729,000	1.0%
Listing Count	111	9.0%
Listings as % of Homes	0.6%	9.0%
Days on Market	32	14.0%

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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%

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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%

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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%

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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

Ferndale, WA—98248

Key Metrics at a Glance

Home Price Trends — Ferndale, WA

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Ferndale, WA

% of Rental Stock

Property Listings — Ferndale, WA

Demographics — Ferndale, WA

Race and Ethnicity

Mortgage and Risk — Ferndale, WA

Mortgages

Rentals and Section 8 — Ferndale, WA

Section 8 Market Size

Section 8 Opportunity

Affordability — Ferndale, WA

Home Price to Income Ratio

Ferndale, WA — ZIP Code Boundary Map

Nearby ZIP Codes

Custer, WA

Cottonwood Beach, WA

Bellingham, WA

Beach, WA

Lynden, WA

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	6.6
Median Home Price	$622,000
Median Household Income	$88,600

Ferndale, WA—98248

Key Metrics at a Glance

Home Price Trends — Ferndale, WA

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Ferndale, WA

% of Rental Stock

Property Listings — Ferndale, WA

Demographics — Ferndale, WA

Race and Ethnicity

Mortgage and Risk — Ferndale, WA

Mortgages

Rentals and Section 8 — Ferndale, WA

Section 8 Market Size

Section 8 Opportunity

Affordability — Ferndale, WA

Home Price to Income Ratio

Ferndale, WA — ZIP Code Boundary Map

Nearby ZIP Codes

Custer, WA

Cottonwood Beach, WA

Bellingham, WA

Beach, WA

Lynden, WA

Frequently Asked Questions

What is the average home price in Ferndale, WA 98248?

How have home prices in Ferndale, WA 98248 changed over the past year?

What is the home price projection for Ferndale, WA 98248?

What are the demographics of Ferndale, WA 98248?

How long does it take homes to sell in Ferndale, WA 98248?

What is the average rent price in Ferndale, WA 98248?