University Place, WA—98466
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in University Place, WA
Home Price Trends — University Place, WA
As of Oct '25, the median home price in University Place, WA is $615,000, 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 -0.2%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $615,000 | -1.6% |
| Single Family | $626,000 | -1.7% |
| Condos | $340,000 | -1.4% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $463,000 | -1.9% |
3 Bed | $595,000 | -1.8% |
4 Bed | $688,000 | -1.3% |
| 5 Bed | $790,000 | -1.0% |
% of Housing Stock
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 |
% of Rental Stock
Property Listings — University Place, WA
As of Oct '25, Realtor.com reports that the median days on market for a home in University Place, WA is 49. This is a decrease of -13.0% from last year, suggesting that homes are sitting on the market shorter 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 | $622,000 | -4.0% |
Listing Count | 79 | 18.0% |
| Listings as % of Homes | 0.2% | 18.0% |
Days on Market | 49 | -13.0% |
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% |
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% |
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% |
Loan Activity
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 |
Affordability — University Place, WA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 6.2 |
| Median Home Price | $615,000 |
| Median Household Income | $94,600 |