University Place, WA 98467 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

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University Place, WA—98467

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$686,000

1.6% YoY Growth

Household Income

$90,600

33.4% YoY Growth

Days on Market

40

25.0% Longer YoY

Home Price Forecast

-1.3%

Median Rent

$1,650

15.8% YoY Growth

1-Bed Rent

$1,350

45.3% YoY Growth

2-Bed Rent

$1,670

9.3% YoY Growth

3-Bed Rent

$2,950

3.7% YoY Growth

Other Zip Codes in University Place, WA

Home Price Trends — University Place, WA

As of May '26, the median home price in University Place, WA is $686,000, 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 -1.3%, suggesting a decrease housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$686,000	-1.6%
Single Family	$699,000	-1.5%
Condos	$481,000	0.2%

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 -15.8%. Per bedroom, the median rent as of July '25 in University Place, WA is 1-bedrooms: $1,380, 2-bedrooms: $1,760, 3-bedrooms: $3,080, 4-bedrooms: $3,970. The most common rental property sizes in University Place, WA are 2-bedroom and 1-bedroom, accounting for 44.7% and 32.8% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$1,650	$1,970
Studio Rent	N/A	N/A
1 Bed Rent	$1,350	$1,380
2 Bed Rent	$1,670	$1,760
3 Bed Rent	$2,950	$3,080
4 Bed Rent	$3,800	$3,970

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% of Rental Stock

Studio

3.2%

1 Bedroom

32.8%

2 Bedrooms

44.7%

3 Bedrooms

12.8%

4 Bedrooms

6.6%

Property Listings — University Place, WA

As of May '26, Realtor.com reports that the median days on market for a home in University Place, WA is 40. This is a increase of 25.0% 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 16.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$700,000	6.0%
Listing Count	49	37.0%
Listings as % of Homes	0.4%	37.0%
Days on Market	40	25.0%

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Demographics — University Place, WA

As of the latest ACS Survey released in 2023, University Place, WA has a population of 15,200, which has decreased by -5.8% over the past 5 years. University Place, WA is a moderately popular place for families, as children make up 22.6% of the population. The area has a moderately educated workforce, with 42.2% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 13.3% reporting working from home.

Metric	Latest Census	YoY % Change
Population	15,200	-5.8%
% Under 18	22.6%	-8.9%
% Seniors	19.0%	31.0%
% WFH	13.3%	150.9%
% w/ College Degree	42.2%	9.0%

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As of the latest ACS Survey released in 2023, University Place, WA is a predominantly white area, with 58.7% of the population identifying as white. The white population has grown by 0.3% in the last 5 years. The second most common race or ethnicity in University Place, WA is asian, making up 15.0% of the population. Foreign-born residents account for 16.9% of the population in University Place, WA, and this percentage has increased by 8.3% 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	58.7%	0.3%
% Black	9.2%	7.0%
% Hispanic	9.9%	52.3%
% Asian	15.0%	2.0%
% Foreign Born	16.9%	8.3%

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Mortgage and Risk — University Place, WA

According to HUD data as of 2023, there were 168 mortgage originations in University Place, WA, of which 82.0% of loans were conventional mortgages. The average loan-to-value was 57.0%, with 24.0% above 90% LTV (very high). This implies large mortgage risk in University Place, WA. Investor activity is low, as 0.0% 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	168
% Conventional Loans	82.0%
% Government Loans	18.0%
% Investor Loans	0.0%
% Second Loans	1.0%
% Cash Out Refinance	9.0%

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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 16.2%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 2-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 3-bedroom and 4-bedroom units do not.

Section 8 Market Size

Total Units under HUD	384
Total Units Section 8	384
% Rentals under Section 8	16.2%
% Occupied Section 8	83.7%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	$170	$1,350	$1,520
2 Bedroom	$200	$1,670	$1,870
3 Bedroom	-$330	$2,950	$2,620
4 Bedroom	-$810	$3,800	$2,990