Bonney Lake, WA—98391
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Bonney Lake, WA
As of Oct '25, the median home price in Bonney Lake, WA is $671,000, 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 0.2%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $671,000 | -0.4% |
| Single Family | $672,000 | -0.4% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $592,000 | 3.5% |
2 Bed | $633,000 | 0.0% |
3 Bed | $593,000 | -0.2% |
4 Bed | $736,000 | -0.5% |
| 5 Bed | $797,000 | -0.9% |
% of Housing Stock
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 |
% of Rental Stock
Property Listings — Bonney Lake, WA
As of Oct '25, Realtor.com reports that the median days on market for a home in Bonney Lake, WA is 57. This is a increase of 11.0% 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 36.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $735,000 | -1.0% |
Listing Count | 348 | 13.0% |
| Listings as % of Homes | 0.7% | 13.0% |
Days on Market | 57 | 11.0% |
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% |
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% |
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% |
Loan Activity
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 |
Affordability — Bonney Lake, WA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.9 |
| Median Home Price | $671,000 |
| Median Household Income | $129,000 |