Belfair, WA—98528
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Belfair, WA
As of Oct '25, the median home price in Belfair, WA is $484,000, with a year-over-year change of 1.1%. This indicates that home prices in Belfair, WA are increasing. According to Zillow, the 1-year price projection is 1.2%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $484,000 | 1.1% |
| Single Family | $485,000 | 0.6% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $380,000 | -1.0% |
2 Bed | $476,000 | -0.6% |
3 Bed | $494,000 | 1.6% |
4 Bed | $537,000 | -2.2% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Belfair, WA
As of July '25, Rentcast reports the average rent in Belfair, WA is $1,900, with a year-over-year rent change of -20.2%. Per bedroom, the median rent as of July '25 in Belfair, WA is 1-bedrooms: $730, 2-bedrooms: $1,710, 4-bedrooms: $2,690. The most common rental property sizes in Belfair, WA are 1-bedroom and 3-bedroom, accounting for 39.1% and 28.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,800 | $1,900 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $730 | $730 |
| 2 Bed Rent | $1,620 | $1,710 |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | $2,680 | $2,690 |
% of Rental Stock
Property Listings — Belfair, WA
As of Oct '25, Realtor.com reports that the median days on market for a home in Belfair, WA is 77. This is a increase of 32.0% 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 17.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $576,000 | 17.0% |
Listing Count | 48 | -36.0% |
| Listings as % of Homes | 0.5% | -36.0% |
Days on Market | 77 | 32.0% |
Demographics — Belfair, WA
As of the latest ACS Survey released in 2023, Belfair, WA has a population of 12,400, which has increased by 23.3% over the past 5 years. Belfair, WA is a moderately popular place for families, as children make up 23.1% of the population. The area has a poorly educated workforce, with 16.0% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 5.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 12,400 | 23.3% |
% Under 18 | 23.1% | 19.1% |
% Seniors | 21.0% | 12.9% |
% WFH | 5.0% | -49.0% |
% w/ College Degree | 16.0% | 11.9% |
As of the latest ACS Survey released in 2023, Belfair, WA is a predominantly white area, with 74.8% of the population identifying as white. The white population has shrunk by 2.6% in the last 5 years. The second most common race or ethnicity in Belfair, WA is hispanic, making up 11.6% of the population. Foreign-born residents account for 7.2% of the population in Belfair, WA, and this percentage has decreased by 25.0% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 74.8% | -2.6% |
% Black | 2.2% | -47.6% |
% Hispanic | 11.6% | -20.5% |
% Asian | 2.0% | -4.8% |
% Foreign Born | 7.2% | -25.0% |
Mortgage and Risk — Belfair, WA
According to HUD data as of 2023, there were 270 mortgage originations in Belfair, WA, of which 71.0% of loans were conventional mortgages. The average loan-to-value was 63.0%, with 35.0% above 90% LTV (very high). This implies large mortgage risk in Belfair, 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 | 270 |
% Conventional Loans | 71.0% |
% Government Loans | 29.0% |
% Investor Loans | 0.0% |
% Second Loans | 3.0% |
% Cash Out Refinance | 9.0% |
Loan Activity
Rentals and Section 8 — Belfair, WA
Belfair, WA lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 9 |
Total Units Section 8 | 9 |
% Rentals under Section 8 | 1.1% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $720 | $730 | $1,450 |
| 2 Bedroom | $230 | $1,620 | $1,850 |
| 3 Bedroom | N/A | N/A | $2,520 |
| 4 Bedroom | $240 | $2,680 | $2,920 |
Affordability — Belfair, WA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.5 |
| Median Home Price | $484,000 |
| Median Household Income | $85,600 |