Parkland, WA—98444
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Parkland, WA
As of Nov '25, the median home price in Parkland, WA is $435,000, with a year-over-year change of -1.9%. This indicates that home prices in Parkland, 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 | $435,000 | -1.9% |
| Single Family | $436,000 | -2.0% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $312,000 | -3.7% |
2 Bed | $362,000 | -1.9% |
3 Bed | $435,000 | -2.0% |
4 Bed | $498,000 | -1.0% |
| 5 Bed | $547,666 | -0.4% |
% of Housing Stock
Rental Trends — Parkland, WA
As of July '25, Rentcast reports the average rent in Parkland, WA is $1,400, with a year-over-year rent change of -12.5%. Per bedroom, the median rent as of July '25 in Parkland, WA is studios: $1,020, 1-bedrooms: $1,240, 2-bedrooms: $1,610, 3-bedrooms: $2,380, 4-bedrooms: $2,660. The most common rental property sizes in Parkland, WA are 2-bedroom and 1-bedroom, accounting for 51.8% and 21.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,300 | $1,400 |
| Studio Rent | $999 | $1,020 |
| 1 Bed Rent | $1,280 | $1,240 |
| 2 Bed Rent | $1,590 | $1,610 |
| 3 Bed Rent | $2,350 | $2,380 |
| 4 Bed Rent | $2,350 | $2,660 |
% of Rental Stock
Property Listings — Parkland, WA
As of Nov '25, Realtor.com reports that the median days on market for a home in Parkland, WA is 54. This is a increase of 5.0% 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 | $496,000 | -5.0% |
Listing Count | 84 | 57.0% |
| Listings as % of Homes | 0.3% | 57.0% |
Days on Market | 54 | 5.0% |
Demographics — Parkland, WA
As of the latest ACS Survey released in 2023, Parkland, WA has a population of 35,700, which has increased by 5.0% over the past 5 years. Parkland, WA is a moderately popular place for families, as children make up 23.7% of the population. The area has a poorly educated workforce, with 15.2% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 6.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 35,700 | 5.0% |
% Under 18 | 23.7% | 0.9% |
% Seniors | 12.4% | 19.2% |
% WFH | 6.0% | 27.7% |
% w/ College Degree | 15.2% | 4.8% |
As of the latest ACS Survey released in 2023, Parkland, WA is a predominantly white area, with 39.8% of the population identifying as white. The white population has shrunk by 13.9% in the last 5 years. The second most common race or ethnicity in Parkland, WA is hispanic, making up 18.8% of the population. Foreign-born residents account for 20.6% of the population in Parkland, WA, and this percentage has increased by 7.3% 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 | 39.8% | -13.9% |
% Black | 16.6% | 23.9% |
% Hispanic | 18.8% | 11.9% |
% Asian | 11.2% | 9.8% |
% Foreign Born | 20.6% | 7.3% |
Mortgage and Risk — Parkland, WA
According to HUD data as of 2023, there were 508 mortgage originations in Parkland, WA, of which 61.0% of loans were conventional mortgages. The average loan-to-value was 69.0%, with 48.0% above 90% LTV (very high). This implies large mortgage risk in Parkland, WA. Investor activity is low, as 2.0% of loans were by investors. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 508 |
% Conventional Loans | 61.0% |
% Government Loans | 39.0% |
% Investor Loans | 2.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 11.0% |
Rentals and Section 8 — Parkland, WA
As of 2024, the percent of homes in Parkland, WA under the Section 8 program is 11.6%. 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 Parkland, 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 | 816 |
Total Units Section 8 | 793 |
% Rentals under Section 8 | 11.6% |
% Occupied Section 8 | 83.2% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $170 | $1,280 | $1,450 |
| 2 Bedroom | $200 | $1,590 | $1,790 |
| 3 Bedroom | $170 | $2,350 | $2,520 |
| 4 Bedroom | $570 | $2,350 | $2,920 |
Affordability — Parkland, WA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 6.5 |
| Median Home Price | $435,000 |
| Median Household Income | $64,500 |