Sultan, WA—98294
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Sultan, WA
As of Oct '25, the median home price in Sultan, WA is $551,000, with a year-over-year change of 0.9%. This indicates that home prices in Sultan, WA are flat. According to Zillow, the 1-year price projection is 0.0%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $551,000 | 0.9% |
| Single Family | $553,000 | 0.5% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $279,000 | -3.5% |
2 Bed | $431,000 | 0.0% |
3 Bed | $534,000 | 0.6% |
4 Bed | $602,000 | 0.5% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Sultan, WA
As of July '25, Rentcast reports the average rent in Sultan, WA is $2,500, with a year-over-year rent change of 3.3%. Per bedroom, the median rent as of July '25 in Sultan, WA is studios: $1,900, 1-bedrooms: $1,400, 2-bedrooms: $1,830, 3-bedrooms: $2,620, 4-bedrooms: $3,320. The most common rental property sizes in Sultan, WA are 3-bedroom and 1-bedroom, accounting for 46.4% and 34.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,620 | $2,500 |
| Studio Rent | $1,700 | $1,900 |
| 1 Bed Rent | $1,400 | $1,400 |
| 2 Bed Rent | $1,850 | $1,830 |
| 3 Bed Rent | $2,620 | $2,620 |
| 4 Bed Rent | $3,400 | $3,320 |
% of Rental Stock
Property Listings — Sultan, WA
As of Oct '25, Realtor.com reports that the median days on market for a home in Sultan, WA is 43. 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 22.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $576,000 | -2.0% |
Listing Count | 55 | -2.0% |
| Listings as % of Homes | 0.5% | -2.0% |
Days on Market | 43 | 44.0% |
Demographics — Sultan, WA
As of the latest ACS Survey released in 2023, Sultan, WA has a population of 7,840, which has increased by 10.0% over the past 5 years. Sultan, WA is a moderately popular place for families, as children make up 19.9% of the population. The area has a moderately educated workforce, with 30.0% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 15.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 7,840 | 10.0% |
% Under 18 | 19.9% | -13.5% |
% Seniors | 17.6% | 89.2% |
% WFH | 15.1% | 259.5% |
% w/ College Degree | 30.0% | 125.6% |
As of the latest ACS Survey released in 2023, Sultan, WA is a predominantly white area, with 67.4% of the population identifying as white. The white population has shrunk by 16.8% in the last 5 years. The second most common race or ethnicity in Sultan, WA is hispanic, making up 17.3% of the population. Foreign-born residents account for 20.7% of the population in Sultan, WA, and this percentage has increased by 204.4% 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 | 67.4% | -16.8% |
% Black | 1.1% | 1,000.0% |
% Hispanic | 17.3% | 33.1% |
% Asian | 8.7% | 521.4% |
% Foreign Born | 20.7% | 204.4% |
Mortgage and Risk — Sultan, WA
According to HUD data as of 2023, there were 160 mortgage originations in Sultan, WA, of which 66.0% of loans were conventional mortgages. The average loan-to-value was 64.0%, with 39.0% above 90% LTV (very high). This implies large mortgage risk in Sultan, WA. Investor activity is low, as 1.0% of loans were by investors. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 160 |
% Conventional Loans | 66.0% |
% Government Loans | 34.0% |
% Investor Loans | 1.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — Sultan, WA
As of 2024, the percent of homes in Sultan, WA under the Section 8 program is 10.3%. 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 Sultan, 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 | 28 |
Total Units Section 8 | 28 |
% Rentals under Section 8 | 10.3% |
% Occupied Section 8 | 89.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $650 | $1,400 | $2,050 |
| 2 Bedroom | $540 | $1,850 | $2,390 |
| 3 Bedroom | $540 | $2,620 | $3,160 |
| 4 Bedroom | $280 | $3,400 | $3,680 |
Affordability — Sultan, WA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 6 |
| Median Home Price | $551,000 |
| Median Household Income | $88,000 |