Lake Stevens, WA—98258
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Lake Stevens, WA
As of Nov '25, the median home price in Lake Stevens, WA is $698,000, with a year-over-year change of -1.3%. This indicates that home prices in Lake Stevens, WA are decreasing. According to Zillow, the 1-year price projection is 0.3%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $698,000 | -1.3% |
| Single Family | $709,000 | -1.5% |
| Condos | $563,000 | -0.4% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $485,000 | 0.0% |
2 Bed | $522,000 | 0.0% |
3 Bed | $636,000 | -1.5% |
4 Bed | $775,000 | -1.5% |
| 5 Bed | $873,956 | -1.3% |
% of Housing Stock
Rental Trends — Lake Stevens, WA
As of July '25, Rentcast reports the average rent in Lake Stevens, WA is $2,860, with a year-over-year rent change of -4.0%. Per bedroom, the median rent as of July '25 in Lake Stevens, WA is 1-bedrooms: $1,520, 2-bedrooms: $2,120, 3-bedrooms: $2,890, 4-bedrooms: $3,490. The most common rental property sizes in Lake Stevens, WA are 3-bedroom and 2-bedroom, accounting for 37.3% and 24.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $3,000 | $2,860 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,700 | $1,520 |
| 2 Bed Rent | $2,250 | $2,120 |
| 3 Bed Rent | $2,850 | $2,890 |
| 4 Bed Rent | $3,400 | $3,490 |
% of Rental Stock
Property Listings — Lake Stevens, WA
As of Nov '25, Realtor.com reports that the median days on market for a home in Lake Stevens, WA is 71. This is a increase of 29.0% 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 24.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $800,000 | -1.0% |
Listing Count | 169 | 12.0% |
| Listings as % of Homes | 0.7% | 12.0% |
Days on Market | 71 | 29.0% |
Demographics — Lake Stevens, WA
As of the latest ACS Survey released in 2023, Lake Stevens, WA has a population of 52,000, which has increased by 57.8% over the past 5 years. Lake Stevens, WA is a popular place for families, as children make up 27.4% of the population. The area has a moderately educated workforce, with 32.3% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 17.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 52,000 | 57.8% |
% Under 18 | 27.4% | -1.1% |
% Seniors | 10.2% | 3.0% |
% WFH | 17.4% | 216.4% |
% w/ College Degree | 32.3% | 24.7% |
As of the latest ACS Survey released in 2023, Lake Stevens, WA is a predominantly white area, with 73.4% of the population identifying as white. The white population has shrunk by 7.1% in the last 5 years. The second most common race or ethnicity in Lake Stevens, WA is hispanic, making up 11.8% of the population. Foreign-born residents account for 9.9% of the population in Lake Stevens, WA, and this percentage has increased by 54.7% 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 | 73.4% | -7.1% |
% Black | 1.9% | 72.7% |
% Hispanic | 11.8% | 19.2% |
% Asian | 6.4% | 77.8% |
% Foreign Born | 9.9% | 54.7% |
Mortgage and Risk — Lake Stevens, WA
According to HUD data as of 2023, there were 1220 mortgage originations in Lake Stevens, WA, of which 89.0% of loans were conventional mortgages. The average loan-to-value was 53.0%, with 20.0% above 90% LTV (very high). This implies large mortgage risk in Lake Stevens, WA. Investor activity is low, as 2.0% 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 | 1,220 |
% Conventional Loans | 89.0% |
% Government Loans | 11.0% |
% Investor Loans | 2.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 9.0% |
Rentals and Section 8 — Lake Stevens, WA
As of 2024, the percent of homes in Lake Stevens, WA under the Section 8 program is 7.4%. 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 Lake Stevens, 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 | 392 |
Total Units Section 8 | 393 |
% Rentals under Section 8 | 7.4% |
% Occupied Section 8 | 88.3% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $640 | $1,700 | $2,340 |
| 2 Bedroom | $470 | $2,250 | $2,720 |
| 3 Bedroom | $740 | $2,850 | $3,590 |
| 4 Bedroom | $780 | $3,400 | $4,180 |
Affordability — Lake Stevens, WA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.3 |
| Median Home Price | $698,000 |
| Median Household Income | $121,000 |