Bonney Lake, WA 98391 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Bonney Lake, WA—98391

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$666,000

0.4% YoY Growth

Household Income

$129,000

33.6% YoY Growth

Days on Market

2.0% Longer YoY

Home Price Forecast

0.3%

Median Rent

$2,850

1.7% YoY Growth

1-Bed Rent

$1,420

12.0% YoY Growth

2-Bed Rent

$2,000

4.2% YoY Growth

3-Bed Rent

$2,850

9.7% YoY Growth

Home Price Trends — Bonney Lake, WA

As of Dec '25, the median home price in Bonney Lake, WA is $666,000, with a year-over-year change of -0.4%. This indicates that home prices in Bonney Lake, WA are flat. According to Zillow, the 1-year price projection is 0.3%, suggesting a relatively flat housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$666,000	-0.4%
Single Family	$667,000	-0.4%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Bonney Lake, WA

As of July '25, Rentcast reports the average rent in Bonney Lake, WA is $2,900, with a year-over-year rent change of -1.7%. Per bedroom, the median rent as of July '25 in Bonney Lake, WA is 1-bedrooms: $1,590, 2-bedrooms: $2,040, 3-bedrooms: $3,050, 4-bedrooms: $3,440. The most common rental property sizes in Bonney Lake, WA are 3-bedroom and 2-bedroom, accounting for 44.0% and 22.8% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$2,850	$2,900
Studio Rent	N/A	N/A
1 Bed Rent	$1,420	$1,590
2 Bed Rent	$2,000	$2,040
3 Bed Rent	$2,850	$3,050
4 Bed Rent	$3,400	$3,440

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% of Rental Stock

Studio

1.8%

1 Bedroom

11.6%

2 Bedrooms

22.8%

3 Bedrooms

44.0%

4 Bedrooms

15.4%

5+ Bedrooms

4.5%

Property Listings — Bonney Lake, WA

As of Dec '25, Realtor.com reports that the median days on market for a home in Bonney Lake, WA is 63. This is a increase of 5.0% 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	$761,000	-1.0%
Listing Count	287	24.0%
Listings as % of Homes	0.7%	24.0%
Days on Market	68	2.0%

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Demographics — Bonney Lake, WA

As of the latest ACS Survey released in 2023, Bonney Lake, WA has a population of 57,700, which has increased by 13.0% over the past 5 years. Bonney Lake, WA is a popular place for families, as children make up 28.2% of the population. The area has a moderately educated workforce, with 32.2% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 15.6% reporting working from home.

Metric	Latest Census	YoY % Change
Population	57,700	13.0%
% Under 18	28.2%	7.2%
% Seniors	12.1%	18.6%
% WFH	15.6%	169.0%
% w/ College Degree	32.2%	24.8%

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As of the latest ACS Survey released in 2023, Bonney Lake, WA is a predominantly white area, with 78.6% of the population identifying as white. The white population has shrunk by 3.8% in the last 5 years. The second most common race or ethnicity in Bonney Lake, WA is hispanic, making up 8.6% of the population. Foreign-born residents account for 6.1% of the population in Bonney Lake, WA, and this percentage has increased by 48.8% 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	78.6%	-3.8%
% Black	0.9%	0.0%
% Hispanic	8.6%	11.7%
% Asian	4.4%	109.5%
% Foreign Born	6.1%	48.8%

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Mortgage and Risk — Bonney Lake, WA

According to HUD data as of 2023, there were 1640 mortgage originations in Bonney Lake, WA, of which 81.0% of loans were conventional mortgages. The average loan-to-value was 54.0%, with 24.0% above 90% LTV (very high). This implies large mortgage risk in Bonney Lake, WA. Investor activity is low, as 1.0% of loans were by investors. 9.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.

Mortgages

Metric	Zip Code Average
Total Loan Originations	1,640
% Conventional Loans	81.0%
% Government Loans	19.0%
% Investor Loans	1.0%
% Second Loans	0.0%
% Cash Out Refinance	9.0%

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Rentals and Section 8 — Bonney Lake, WA

As of 2024, the percent of homes in Bonney Lake, WA under the Section 8 program is 1.3%. 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 Bonney Lake, 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	37
Total Units Section 8	37
% Rentals under Section 8	1.3%
% Occupied Section 8	85.0%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	$670	$1,420	$2,090
2 Bedroom	$570	$2,000	$2,570
3 Bedroom	$750	$2,850	$3,600
4 Bedroom	$710	$3,400	$4,110

Bonney Lake, WA—98391

Key Metrics at a Glance

Home Price Trends — Bonney Lake, WA

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Bonney Lake, WA

% of Rental Stock

Property Listings — Bonney Lake, WA

Demographics — Bonney Lake, WA

Race and Ethnicity

Mortgage and Risk — Bonney Lake, WA

Mortgages

Rentals and Section 8 — Bonney Lake, WA

Section 8 Market Size

Section 8 Opportunity

Affordability — Bonney Lake, WA

Home Price to Income Ratio

Bonney Lake, WA — ZIP Code Boundary Map

Nearby ZIP Codes

Sumner, WA

South Prairie

Puyallup, WA

Puyallup, WA

Buckley, WA

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	4.9
Median Home Price	$666,000
Median Household Income	$129,000

Bonney Lake, WA—98391

Key Metrics at a Glance

Home Price Trends — Bonney Lake, WA

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Bonney Lake, WA

% of Rental Stock

Property Listings — Bonney Lake, WA

Demographics — Bonney Lake, WA

Race and Ethnicity

Mortgage and Risk — Bonney Lake, WA

Mortgages

Rentals and Section 8 — Bonney Lake, WA

Section 8 Market Size

Section 8 Opportunity

Affordability — Bonney Lake, WA

Home Price to Income Ratio

Bonney Lake, WA — ZIP Code Boundary Map

Nearby ZIP Codes

Sumner, WA

South Prairie

Puyallup, WA

Puyallup, WA

Buckley, WA

Frequently Asked Questions

What is the average home price in Bonney Lake, WA 98391?

How have home prices in Bonney Lake, WA 98391 changed over the past year?

What is the home price projection for Bonney Lake, WA 98391?

What are the demographics of Bonney Lake, WA 98391?

How long does it take homes to sell in Bonney Lake, WA 98391?

What is the average rent price in Bonney Lake, WA 98391?