Oak Harbor, WA—98277
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Oak Harbor, WA
As of Oct '25, the median home price in Oak Harbor, WA is $517,000, with a year-over-year change of 1.3%. This indicates that home prices in Oak Harbor, WA are increasing. According to Zillow, the 1-year price projection is 0.2%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $517,000 | 1.3% |
| Single Family | $529,000 | 1.3% |
| Condos | $313,000 | 0.0% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $407,000 | 3.3% |
2 Bed | $412,000 | 1.5% |
3 Bed | $518,000 | 1.2% |
4 Bed | $584,000 | 1.2% |
| 5 Bed | $651,000 | 1.2% |
% of Housing Stock
Rental Trends — Oak Harbor, WA
As of July '25, Rentcast reports the average rent in Oak Harbor, WA is $2,220, with a year-over-year rent change of 12.7%. Per bedroom, the median rent as of July '25 in Oak Harbor, WA is studios: $2,020, 1-bedrooms: $1,100, 2-bedrooms: $1,820, 3-bedrooms: $2,490, 4-bedrooms: $2,830. The most common rental property sizes in Oak Harbor, WA are 2-bedroom and 3-bedroom, accounting for 36.9% and 34.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,300 | $2,220 |
| Studio Rent | $1,500 | $2,020 |
| 1 Bed Rent | $963 | $1,100 |
| 2 Bed Rent | $1,800 | $1,820 |
| 3 Bed Rent | $2,450 | $2,490 |
| 4 Bed Rent | $2,800 | $2,830 |
% of Rental Stock
Property Listings — Oak Harbor, WA
As of Oct '25, Realtor.com reports that the median days on market for a home in Oak Harbor, WA is 59. This is a increase of 2.0% 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 20.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $606,000 | 1.0% |
Listing Count | 177 | 21.0% |
| Listings as % of Homes | 0.6% | 21.0% |
Days on Market | 59 | 2.0% |
Demographics — Oak Harbor, WA
As of the latest ACS Survey released in 2023, Oak Harbor, WA has a population of 40,300, which has increased by 4.4% over the past 5 years. Oak Harbor, WA is a moderately popular place for families, as children make up 23.4% of the population. The area has a moderately educated workforce, with 27.1% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 40,300 | 4.4% |
% Under 18 | 23.4% | 0.0% |
% Seniors | 15.9% | 1.9% |
% WFH | 7.8% | 129.4% |
% w/ College Degree | 27.1% | 5.9% |
As of the latest ACS Survey released in 2023, Oak Harbor, WA is a predominantly white area, with 66.3% of the population identifying as white. The white population has shrunk by 1.5% in the last 5 years. The second most common race or ethnicity in Oak Harbor, WA is hispanic, making up 12.3% of the population. Foreign-born residents account for 9.3% of the population in Oak Harbor, WA, and this percentage has remained stable as of the ACS Survey 5 years prior, suggesting immigration has remained steady.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 66.3% | -1.5% |
% Black | 3.8% | -30.9% |
% Hispanic | 12.3% | 10.8% |
% Asian | 7.8% | -2.5% |
% Foreign Born | 9.3% | 0.0% |
Mortgage and Risk — Oak Harbor, WA
According to HUD data as of 2023, there were 696 mortgage originations in Oak Harbor, WA, of which 54.0% of loans were conventional mortgages. The average loan-to-value was 65.0%, with 38.0% above 90% LTV (very high). This implies large mortgage risk in Oak Harbor, 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 | 696 |
% Conventional Loans | 54.0% |
% Government Loans | 46.0% |
% Investor Loans | 1.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Oak Harbor, WA
Oak Harbor, WA lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 304 |
Total Units Section 8 | 252 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 74.4% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $267 | $963 | $1,230 |
| 2 Bedroom | -$300 | $1,800 | $1,500 |
| 3 Bedroom | -$350 | $2,450 | $2,100 |
| 4 Bedroom | -$350 | $2,800 | $2,450 |
Affordability — Oak Harbor, WA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 6.2 |
| Median Home Price | $517,000 |
| Median Household Income | $79,300 |