Renton, WA—98056
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Renton, WA
As of Oct '25, the median home price in Renton, WA is $845,000, with a year-over-year change of -1.7%. This indicates that home prices in Renton, WA are decreasing. According to Zillow, the 1-year price projection is -0.1%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $845,000 | -1.7% |
| Single Family | $894,000 | -1.7% |
| Condos | $345,000 | -6.0% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $278,000 | -7.6% |
2 Bed | $465,000 | -2.9% |
3 Bed | $752,000 | -2.3% |
4 Bed | $1,087,000 | -0.3% |
| 5 Bed | $1,336,000 | -0.3% |
% of Housing Stock
Rental Trends — Renton, WA
As of July '25, Rentcast reports the average rent in Renton, WA is $2,760, with a year-over-year rent change of -1.1%. Per bedroom, the median rent as of July '25 in Renton, WA is studios: $1,630, 1-bedrooms: $1,660, 2-bedrooms: $2,260, 3-bedrooms: $3,320, 4-bedrooms: $4,230. The most common rental property sizes in Renton, WA are 2-bedroom and 1-bedroom, accounting for 28.9% and 26.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,620 | $2,760 |
| Studio Rent | $1,620 | $1,630 |
| 1 Bed Rent | $1,500 | $1,660 |
| 2 Bed Rent | $2,100 | $2,260 |
| 3 Bed Rent | $3,280 | $3,320 |
| 4 Bed Rent | $3,950 | $4,230 |
% of Rental Stock
Property Listings — Renton, WA
As of Oct '25, Realtor.com reports that the median days on market for a home in Renton, WA is 44. This is a increase of 24.0% 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 22.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $836,000 | -11.0% |
Listing Count | 125 | 16.0% |
| Listings as % of Homes | 0.3% | 16.0% |
Days on Market | 44 | 24.0% |
Demographics — Renton, WA
As of the latest ACS Survey released in 2023, Renton, WA has a population of 36,900, which has increased by 4.2% over the past 5 years. Renton, WA is a moderately popular place for families, as children make up 19.8% of the population. The area has a moderately educated workforce, with 44.1% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 22.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 36,900 | 4.2% |
% Under 18 | 19.8% | 0.5% |
% Seniors | 14.9% | 41.9% |
% WFH | 22.9% | 308.9% |
% w/ College Degree | 44.1% | 3.8% |
As of the latest ACS Survey released in 2023, Renton, WA is a predominantly white area, with 43.4% of the population identifying as white. The white population has shrunk by 14.9% in the last 5 years. The second most common race or ethnicity in Renton, WA is asian, making up 25.9% of the population. Foreign-born residents account for 30.7% of the population in Renton, WA, and this percentage has increased by 5.1% 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 | 43.4% | -14.9% |
% Black | 6.8% | 6.2% |
% Hispanic | 14.8% | 0.0% |
% Asian | 25.9% | 15.6% |
% Foreign Born | 30.7% | 5.1% |
Mortgage and Risk — Renton, WA
According to HUD data as of 2023, there were 432 mortgage originations in Renton, WA, of which 96.0% of loans were conventional mortgages. The average loan-to-value was 56.0%, with 14.0% above 90% LTV (elevated). This implies medium mortgage risk in Renton, WA. Investor activity is low, as 4.0% of loans were by investors. 6.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 432 |
% Conventional Loans | 96.0% |
% Government Loans | 4.0% |
% Investor Loans | 4.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 6.0% |
Loan Activity
Rentals and Section 8 — Renton, WA
As of 2024, the percent of homes in Renton, WA under the Section 8 program is 5.1%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Renton, WA, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 377 |
Total Units Section 8 | 374 |
% Rentals under Section 8 | 5.1% |
% Occupied Section 8 | 90.4% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $760 | $1,500 | $2,260 |
| 2 Bedroom | $530 | $2,100 | $2,630 |
| 3 Bedroom | $190 | $3,280 | $3,470 |
| 4 Bedroom | $90 | $3,950 | $4,040 |
Affordability — Renton, WA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 7.3 |
| Median Home Price | $845,000 |
| Median Household Income | $109,000 |