Underwood, WA—98651
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Underwood, WA
As of Oct '25, the median home price in Underwood, WA is $822,000, with a year-over-year change of 1.1%. This indicates that home prices in Underwood, WA are increasing. According to Zillow, the 1-year price projection is -0.5%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $822,000 | 1.1% |
| Single Family | $824,000 | 0.6% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | $841,000 | 0.7% |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Underwood, WA
Underwood, WA lacks sufficient rental market data for analysis.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,800 | $2,800 |
| Studio Rent | $2,800 | $2,800 |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Underwood, WA
As of Oct '25, Realtor.com reports that the median days on market for a home in Underwood, WA is 120. This is a increase of 31.0% 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 0.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $1,810,000 | -14.0% |
Listing Count | 5 | 89.0% |
| Listings as % of Homes | 0.2% | 89.0% |
Days on Market | 120 | 31.0% |
Demographics — Underwood, WA
As of the latest ACS Survey released in 2023, Underwood, WA has a population of 935, which has increased by 8.6% over the past 5 years. Underwood, WA is a less popular place for families, as children make up 14.2% of the population. The area has a moderately educated workforce, with 37.1% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 23.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 935 | 8.6% |
% Under 18 | 14.2% | -7.2% |
% Seniors | 28.4% | 10.1% |
% WFH | 23.5% | 76.7% |
% w/ College Degree | 37.1% | -7.7% |
As of the latest ACS Survey released in 2023, Underwood, WA is a predominantly white area, with 88.9% of the population identifying as white. The white population has grown by 13.7% in the last 5 years. The second most common race or ethnicity in Underwood, WA is hispanic, making up 9.2% of the population. Foreign-born residents account for 10.2% of the population in Underwood, WA, and this percentage has decreased by 16.4% 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 | 88.9% | 13.7% |
% Black | 0.0% | N/A |
% Hispanic | 9.2% | -54.0% |
% Asian | 0.0% | N/A |
% Foreign Born | 10.2% | -16.4% |
Mortgage and Risk — Underwood, WA
According to HUD data as of 2023, there were 40 mortgage originations in Underwood, WA, of which 92.0% of loans were conventional mortgages. The average loan-to-value was 51.0%, with 17.0% above 90% LTV (elevated). This implies medium mortgage risk in Underwood, WA. Investor activity is low, as 3.0% of loans were by investors. 3.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 40 |
% Conventional Loans | 92.0% |
% Government Loans | 7.0% |
% Investor Loans | 3.0% |
% Second Loans | 5.0% |
% Cash Out Refinance | 3.0% |
Loan Activity
Rentals and Section 8 — Underwood, WA
Underwood, WA lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 3 |
Total Units Section 8 | 3 |
% Rentals under Section 8 | 4.5% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $1,600 |
| 2 Bedroom | N/A | N/A | $1,830 |
| 3 Bedroom | N/A | N/A | $2,530 |
| 4 Bedroom | N/A | N/A | $2,930 |
Affordability — Underwood, WA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 8.9 |
| Median Home Price | $822,000 |
| Median Household Income | $87,400 |