University Place, WA—98467
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 $672,000, with a year-over-year change of -0.8%. This indicates that home prices in University Place, WA are flat. According to Zillow, the 1-year price projection is 0.0%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $672,000 | -0.8% |
| Single Family | $684,000 | -0.7% |
| Condos | $478,000 | -1.4% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $471,000 | -2.3% |
3 Bed | $635,000 | -1.4% |
4 Bed | $744,000 | -0.4% |
| 5 Bed | $805,000 | -0.6% |
% 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 -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 |
% 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 42. This is a decrease of -8.0% 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 41.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $709,000 | 1.0% |
Listing Count | 44 | 25.0% |
| Listings as % of Homes | 0.4% | 25.0% |
Days on Market | 42 | -8.0% |
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% |
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% |
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% |
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 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 |
Affordability — University Place, WA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 7.1 |
| Median Home Price | $672,000 |
| Median Household Income | $90,600 |