Port Townsend, WA—98368
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Port Townsend, WA
Port Townsend, WA lacks sufficient home price data for analysis.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $633,000 | 2.2% |
| Single Family | $652,000 | 1.7% |
| Condos | $421,000 | -3.4% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $503,000 | 1.6% |
2 Bed | $619,000 | 1.5% |
3 Bed | $681,000 | 1.6% |
4 Bed | $801,000 | 1.6% |
| 5 Bed | $1,001,000 | 1.4% |
% of Housing Stock
Rental Trends — Port Townsend, WA
As of July '25, Rentcast reports the average rent in Port Townsend, WA is $1,850, with a year-over-year rent change of -28.8%. Per bedroom, the median rent as of July '25 in Port Townsend, WA is studios: $1,620, 1-bedrooms: $1,190, 2-bedrooms: $2,280, 3-bedrooms: $2,620. The most common rental property sizes in Port Townsend, WA are 3-bedroom and 2-bedroom, accounting for 31.5% and 29.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,600 | $1,850 |
| Studio Rent | $1,500 | $1,620 |
| 1 Bed Rent | $950 | $1,190 |
| 2 Bed Rent | $2,250 | $2,280 |
| 3 Bed Rent | $2,500 | $2,620 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Port Townsend, WA
As of Oct '25, Realtor.com reports that the median days on market for a home in Port Townsend, WA is 81. This is a increase of 19.0% 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 28.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $750,000 | -8.0% |
Listing Count | 87 | 34.0% |
| Listings as % of Homes | 0.4% | 34.0% |
Days on Market | 81 | 19.0% |
Demographics — Port Townsend, WA
As of the latest ACS Survey released in 2023, Port Townsend, WA has a population of 17,400, which has increased by 9.8% over the past 5 years. Port Townsend, WA is a less popular place for families, as children make up 11.6% of the population. The area has a highly educated workforce, with 50.8% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 24.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 17,400 | 9.8% |
% Under 18 | 11.6% | -17.7% |
% Seniors | 40.1% | 17.6% |
% WFH | 24.6% | 158.9% |
% w/ College Degree | 50.8% | -1.9% |
As of the latest ACS Survey released in 2023, Port Townsend, WA is a predominantly white area, with 86.7% of the population identifying as white. The white population has shrunk by 5.0% in the last 5 years. The second most common race or ethnicity in Port Townsend, WA is hispanic, making up 4.1% of the population. Foreign-born residents account for 5.8% of the population in Port Townsend, WA, and this percentage has decreased by 7.9% 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 | 86.7% | -5.0% |
% Black | 0.5% | -44.4% |
% Hispanic | 4.1% | 32.3% |
% Asian | 1.6% | -11.1% |
% Foreign Born | 5.8% | -7.9% |
Mortgage and Risk — Port Townsend, WA
According to HUD data as of 2023, there were 285 mortgage originations in Port Townsend, WA, of which 90.0% of loans were conventional mortgages. The average loan-to-value was 50.0%, with 8.0% above 90% LTV (normal). This implies small mortgage risk in Port Townsend, WA. Investor activity is low, as 2.0% 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 | 285 |
% Conventional Loans | 90.0% |
% Government Loans | 10.0% |
% Investor Loans | 2.0% |
% Second Loans | 4.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Port Townsend, WA
Port Townsend, WA lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 213 |
Total Units Section 8 | 213 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 93.5% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $160 | $950 | $1,110 |
| 2 Bedroom | -$1,020 | $2,250 | $1,230 |
| 3 Bedroom | -$780 | $2,500 | $1,720 |
| 4 Bedroom | N/A | N/A | $2,070 |
Affordability — Port Townsend, WA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 9.2 |
| Median Home Price | $633,000 |
| Median Household Income | $67,100 |