University Place, WA 98466 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

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University Place, WA—98466

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$614,000

1.6% YoY Growth

Household Income

$94,600

48.2% YoY Growth

Days on Market

72

12.0% Longer YoY

Home Price Forecast

0.1%

Median Rent

$1,800

8.8% YoY Growth

1-Bed Rent

$1,550

1.3% YoY Growth

2-Bed Rent

$1,900

6.8% YoY Growth

3-Bed Rent

$2,600

1.2% YoY Growth

Other Zip Codes in University Place, WA

Home Price Trends — University Place, WA

As of Dec '25, the median home price in University Place, WA is $614,000, with a year-over-year change of -1.6%. This indicates that home prices in University Place, WA are decreasing. According to Zillow, the 1-year price projection is 0.1%, suggesting a relatively flat housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$614,000	-1.6%
Single Family	$624,000	-1.9%
Condos	$342,000	-1.2%

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — University Place, WA

As of July '25, Rentcast reports the average rent in University Place, WA is $1,970, with a year-over-year rent change of -8.8%. Per bedroom, the median rent as of July '25 in University Place, WA is studios: $1,310, 1-bedrooms: $1,520, 2-bedrooms: $2,030, 3-bedrooms: $2,560, 4-bedrooms: $3,300. The most common rental property sizes in University Place, WA are 2-bedroom and 1-bedroom, accounting for 54.2% and 22.4% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$1,800	$1,970
Studio Rent	$1,300	$1,310
1 Bed Rent	$1,550	$1,520
2 Bed Rent	$1,900	$2,030
3 Bed Rent	$2,600	$2,560
4 Bed Rent	$3,200	$3,300

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% of Rental Stock

Studio

4.0%

1 Bedroom

22.4%

2 Bedrooms

54.2%

3 Bedrooms

15.0%

4 Bedrooms

4.2%

5+ Bedrooms

0.2%

Property Listings — University Place, WA

As of Dec '25, Realtor.com reports that the median days on market for a home in University Place, WA is 71. This is a increase of 4.0% 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 30.0%, representing a large inventory and a lot of supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$590,000	-5.0%
Listing Count	50	8.0%
Listings as % of Homes	0.2%	8.0%
Days on Market	72	12.0%

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Demographics — University Place, WA

As of the latest ACS Survey released in 2023, University Place, WA has a population of 30,600, which has increased by 7.6% over the past 5 years. University Place, WA is a moderately popular place for families, as children make up 23.1% of the population. The area has a moderately educated workforce, with 43.9% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 14.6% reporting working from home.

Metric	Latest Census	YoY % Change
Population	30,600	7.6%
% Under 18	23.1%	2.2%
% Seniors	16.4%	3.8%
% WFH	14.6%	204.2%
% w/ College Degree	43.9%	20.9%

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As of the latest ACS Survey released in 2023, University Place, WA is a predominantly white area, with 64.0% of the population identifying as white. The white population has shrunk by 5.3% in the last 5 years. The second most common race or ethnicity in University Place, WA is hispanic, making up 10.6% of the population. Foreign-born residents account for 11.0% of the population in University Place, WA, and this percentage has increased by 27.9% 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	64.0%	-5.3%
% Black	6.6%	-21.4%
% Hispanic	10.6%	32.5%
% Asian	7.5%	21.0%
% Foreign Born	11.0%	27.9%

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Mortgage and Risk — University Place, WA

According to HUD data as of 2023, there were 476 mortgage originations in University Place, WA, of which 83.0% of loans were conventional mortgages. The average loan-to-value was 55.0%, with 22.0% above 90% LTV (very high). This implies large mortgage risk in University Place, WA. Investor activity is low, as 1.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.

Mortgages

Metric	Zip Code Average
Total Loan Originations	476
% Conventional Loans	83.0%
% Government Loans	17.0%
% Investor Loans	1.0%
% Second Loans	1.0%
% Cash Out Refinance	8.0%

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Rentals and Section 8 — University Place, WA

As of 2024, the percent of homes in University Place, WA under the Section 8 program is 6.8%. 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. 1-bedroom and 2-bedroom and 3-bedroom units appear to be good home sizes to consider for Section 8 housing in University Place, WA, because HUD payments exceed market rent, while 4-bedroom units do not.

Section 8 Market Size

Total Units under HUD	424
Total Units Section 8	424
% Rentals under Section 8	6.8%
% Occupied Section 8	83.0%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	$30	$1,550	$1,580
2 Bedroom	$40	$1,900	$1,940
3 Bedroom	$120	$2,600	$2,720
4 Bedroom	-$100	$3,200	$3,100