Chelan, WA—98816
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Chelan, WA
As of Oct '25, the median home price in Chelan, WA is $496,000, with a year-over-year change of -4.1%. This indicates that home prices in Chelan, WA are decreasing. 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 | $496,000 | -4.1% |
| Single Family | $748,000 | -4.2% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $438,000 | -5.2% |
2 Bed | $541,000 | -2.7% |
3 Bed | $776,000 | -3.2% |
4 Bed | $1,167,000 | -2.7% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Chelan, WA
As of July '25, Rentcast reports the average rent in Chelan, WA is $2,320, with a year-over-year rent change of 27.5%. Per bedroom, the median rent as of July '25 in Chelan, WA is 2-bedrooms: $1,800, 3-bedrooms: $2,350, 4-bedrooms: $2,550. The most common rental property sizes in Chelan, WA are 3-bedroom and 2-bedroom, accounting for 42.7% and 40.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,400 | $2,320 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $1,800 | $1,800 |
| 3 Bed Rent | $2,000 | $2,350 |
| 4 Bed Rent | $2,400 | $2,550 |
% of Rental Stock
Property Listings — Chelan, WA
As of Oct '25, Realtor.com reports that the median days on market for a home in Chelan, WA is 117. This is a increase of 22.0% 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 9.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $668,000 | 4.0% |
Listing Count | 133 | 17.0% |
| Listings as % of Homes | 0.4% | 17.0% |
Days on Market | 117 | 22.0% |
Demographics — Chelan, WA
As of the latest ACS Survey released in 2023, Chelan, WA has a population of 7,680, which has increased by 25.4% over the past 5 years. Chelan, WA is a moderately popular place for families, as children make up 17.4% of the population. The area has a poorly educated workforce, with 24.2% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 7,680 | 25.4% |
% Under 18 | 17.4% | -17.1% |
% Seniors | 27.8% | 45.5% |
% WFH | 9.5% | 30.1% |
% w/ College Degree | 24.2% | 7.6% |
As of the latest ACS Survey released in 2023, Chelan, WA is a predominantly white area, with 62.2% of the population identifying as white. The white population has shrunk by 1.4% in the last 5 years. The second most common race or ethnicity in Chelan, WA is hispanic, making up 34.5% of the population. Foreign-born residents account for 22.5% of the population in Chelan, WA, and this percentage has increased by 20.3% 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 | 62.2% | -1.4% |
% Black | 0.0% | N/A |
% Hispanic | 34.5% | -5.7% |
% Asian | 1.0% | ∞% |
% Foreign Born | 22.5% | 20.3% |
Mortgage and Risk — Chelan, WA
According to HUD data as of 2023, there were 138 mortgage originations in Chelan, WA, of which 94.0% of loans were conventional mortgages. The average loan-to-value was 51.0%, with 9.0% above 90% LTV (normal). This implies small mortgage risk in Chelan, WA. Investor activity is low, as 5.0% 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 | 138 |
% Conventional Loans | 94.0% |
% Government Loans | 6.0% |
% Investor Loans | 5.0% |
% Second Loans | 22.0% |
% Cash Out Refinance | 9.0% |
Loan Activity
Rentals and Section 8 — Chelan, WA
Chelan, WA lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 37 |
Total Units Section 8 | 37 |
% Rentals under Section 8 | 3.4% |
% Occupied Section 8 | 97.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $1,260 |
| 2 Bedroom | -$150 | $1,800 | $1,650 |
| 3 Bedroom | $290 | $2,000 | $2,290 |
| 4 Bedroom | $310 | $2,400 | $2,710 |
Affordability — Chelan, WA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 7.2 |
| Median Home Price | $496,000 |
| Median Household Income | $73,800 |