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  4. /Bellingham, WA - 98229

Bellingham, WA—98229

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$702,000
0.0% YoY Growth
Household Income
$90,100
41.9% YoY Growth
Days on Market
36
32.0% Longer YoY
Home Price Forecast
-0.2%
Median Rent
$2,400
25.7% YoY Growth
1-Bed Rent
$1,500
9.4% YoY Growth
2-Bed Rent
$1,850
10.8% YoY Growth
3-Bed Rent
$2,600
9.8% YoY Growth

Other Zip Codes in Bellingham, WA

9822698225
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Bellingham, WA

As of May '26, the median home price in Bellingham, WA is $702,000, with a year-over-year change of 0.0%. This indicates that home prices in Bellingham, WA are flat. According to Zillow, the 1-year price projection is -0.2%, suggesting a relatively flat housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$702,0000.0%
Single Family $719,0000.0%
Condos $380,0000.8%

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed

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  • Affordability
  • Rentals and Section 8
    • $399,000
    -1.5%
    2 Bed
    		$522,000-0.2%
    3 Bed
    		$693,000-0.1%
    4 Bed
    		$868,000-0.1%
    5 Bed $949,396-0.2%
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    % of Housing Stock

    Studio
    1.9%
    1 Bedroom
    7.2%
    2 Bedrooms
    23.1%
    3 Bedrooms
    42.9%
    4 Bedrooms
    19.5%
    5+ Bedrooms
    5.4%

    Rental Trends — Bellingham, WA

    As of July '25, Rentcast reports the average rent in Bellingham, WA is $2,590, with a year-over-year rent change of 25.7%. Per bedroom, the median rent as of July '25 in Bellingham, WA is studios: $1,370, 1-bedrooms: $1,520, 2-bedrooms: $1,850, 3-bedrooms: $2,580, 4-bedrooms: $3,790. The most common rental property sizes in Bellingham, WA are 2-bedroom and 3-bedroom, accounting for 34.2% and 33.7% of the rental stock.

    TypeMedian RentAverage Rent
    Average Rent$2,400$2,590
    Studio Rent $1,420$1,370
    1 Bed Rent $1,500$1,520
    2 Bed Rent $1,850$1,850
    3 Bed Rent $2,600$2,580
    4 Bed Rent $3,600$3,790
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    % of Rental Stock

    Studio
    3.4%
    1 Bedroom
    20.2%
    2 Bedrooms
    34.2%
    3 Bedrooms
    33.7%
    4 Bedrooms
    5.9%
    5+ Bedrooms
    2.6%

    Property Listings — Bellingham, WA

    As of May '26, Realtor.com reports that the median days on market for a home in Bellingham, WA is 36. 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 19.0%, representing a small inventory and little supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$795,000-4.0%
    Listing Count
    		14423.0%
    Listings as % of Homes0.5%23.0%
    Days on Market
    		3632.0%
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    Demographics — Bellingham, WA

    As of the latest ACS Survey released in 2023, Bellingham, WA has a population of 33,900, which has increased by 5.3% over the past 5 years. Bellingham, WA is a moderately popular place for families, as children make up 19.5% of the population. The area has a highly educated workforce, with 50.8% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 15.5% reporting working from home.

    MetricLatest CensusYoY % Change
    Population
    		33,9005.3%
    % Under 18
    		19.5%-2.5%
    % Seniors
    		18.8%2.7%
    % WFH
    		15.5%89.0%
    % w/ College Degree
    		50.8%10.2%
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    As of the latest ACS Survey released in 2023, Bellingham, WA is a predominantly white area, with 76.6% of the population identifying as white. The white population has shrunk by 4.6% in the last 5 years. The second most common race or ethnicity in Bellingham, WA is hispanic, making up 10.0% of the population. Foreign-born residents account for 8.2% of the population in Bellingham, WA, and this percentage has increased by 1.2% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.

    Race and Ethnicity

    MetricLatest Census5-Year % Change
    % White
    		76.6%-4.6%
    % Black
    		0.8%-27.3%
    % Hispanic
    		10.0%13.6%
    % Asian
    		3.4%-20.9%
    % Foreign Born
    		8.2%1.2%
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    Mortgage and Risk — Bellingham, WA

    According to HUD data as of 2023, there were 524 mortgage originations in Bellingham, WA, of which 93.0% of loans were conventional mortgages. The average loan-to-value was 52.0%, with 11.0% above 90% LTV (elevated). This implies medium mortgage risk in Bellingham, WA. Investor activity is low, as 2.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.

    Mortgages

    MetricZip Code Average
    Total Loan Originations
    		524
    % Conventional Loans
    		93.0%
    % Government Loans
    		7.0%
    % Investor Loans
    		2.0%
    % Second Loans
    		3.0%
    % Cash Out Refinance
    		8.0%
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    Rentals and Section 8 — Bellingham, WA

    As of 2024, the percent of homes in Bellingham, WA under the Section 8 program is 6.8%. 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 Bellingham, WA, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.

    Section 8 Market Size

    Total Units under HUD
    		338
    Total Units Section 8
    		262
    % Rentals under Section 8
    		6.8%
    % Occupied Section 8
    		89.0%

    Section 8 Opportunity

    Home SizeHUD PremiumMarket RentMax HUD Rent
    1 Bedroom-$50$1,500$1,450
    2 Bedroom-$130$1,850$1,720
    3 Bedroom-$190$2,600$2,410
    4 Bedroom-$710$3,600$2,890

    Affordability — Bellingham, WA

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio7.4
    Median Home Price$702,000
    Median Household Income$90,100

    Bellingham, WA — ZIP Code Boundary Map

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    Nearby ZIP Codes

    Bellingham, WA

    98226

    Bellingham, WA

    98225

    Bow, WA

    98232

    Burlington, WA

    98233

    Acme, WA

    98220

    Frequently Asked Questions