Lacey, WA—98513
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Lacey, WA
As of Oct '25, the median home price in Lacey, WA is $499,000, with a year-over-year change of 0.1%. This indicates that home prices in Lacey, WA are flat. According to Zillow, the 1-year price projection is 0.4%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $499,000 | 0.1% |
| Single Family | $504,000 | 0.2% |
| Condos | $332,000 | 1.5% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $324,000 | 0.0% |
2 Bed | $433,000 | 0.2% |
3 Bed | $483,000 | 0.2% |
4 Bed | $569,000 | 0.2% |
| 5 Bed | $590,000 | -0.2% |
% of Housing Stock
Rental Trends — Lacey, WA
As of July '25, Rentcast reports the average rent in Lacey, WA is $2,660, with a year-over-year rent change of 0.8%. Per bedroom, the median rent as of July '25 in Lacey, WA is studios: $2,030, 1-bedrooms: $1,580, 2-bedrooms: $1,720, 3-bedrooms: $2,660, 4-bedrooms: $3,020. The most common rental property sizes in Lacey, WA are 3-bedroom and 2-bedroom, accounting for 43.5% and 25.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,700 | $2,660 |
| Studio Rent | $2,300 | $2,030 |
| 1 Bed Rent | $1,650 | $1,580 |
| 2 Bed Rent | $1,650 | $1,720 |
| 3 Bed Rent | $2,690 | $2,660 |
| 4 Bed Rent | $3,000 | $3,020 |
% of Rental Stock
Property Listings — Lacey, WA
As of Oct '25, Realtor.com reports that the median days on market for a home in Lacey, WA is 45. This is a increase of 21.0% 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.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $511,000 | -4.0% |
Listing Count | 172 | 26.0% |
| Listings as % of Homes | 0.5% | 26.0% |
Days on Market | 45 | 21.0% |
Demographics — Lacey, WA
As of the latest ACS Survey released in 2023, Lacey, WA has a population of 38,000, which has increased by 9.1% over the past 5 years. Lacey, WA is a popular place for families, as children make up 25.5% of the population. The area has a moderately educated workforce, with 32.6% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 18.3% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 38,000 | 9.1% |
% Under 18 | 25.5% | 5.4% |
% Seniors | 16.6% | 18.6% |
% WFH | 18.3% | 357.5% |
% w/ College Degree | 32.6% | -5.8% |
As of the latest ACS Survey released in 2023, Lacey, WA is a predominantly white area, with 62.4% of the population identifying as white. The white population has shrunk by 2.3% in the last 5 years. The second most common race or ethnicity in Lacey, WA is hispanic, making up 12.2% of the population. Foreign-born residents account for 10.9% of the population in Lacey, WA, and this percentage has increased by 14.7% 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 | 62.4% | -2.3% |
% Black | 4.9% | -5.8% |
% Hispanic | 12.2% | 27.1% |
% Asian | 8.1% | 2.5% |
% Foreign Born | 10.9% | 14.7% |
Mortgage and Risk — Lacey, WA
According to HUD data as of 2023, there were 145 mortgage originations in Lacey, WA, of which 75.0% of loans were conventional mortgages. The average loan-to-value was 55.0%, with 30.0% above 90% LTV (very high). This implies large mortgage risk in Lacey, WA. Investor activity is low, as 2.0% of loans were by investors. 14.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 145 |
% Conventional Loans | 75.0% |
% Government Loans | 25.0% |
% Investor Loans | 2.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 14.0% |
Loan Activity
Rentals and Section 8 — Lacey, WA
As of 2024, the percent of homes in Lacey, WA under the Section 8 program is 2.2%. 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 Lacey, 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 | 69 |
Total Units Section 8 | 69 |
% Rentals under Section 8 | 2.2% |
% Occupied Section 8 | 83.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $200 | $1,650 | $1,850 |
| 2 Bedroom | $500 | $1,650 | $2,150 |
| 3 Bedroom | $260 | $2,690 | $2,950 |
| 4 Bedroom | $610 | $3,000 | $3,610 |
Affordability — Lacey, WA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.4 |
| Median Home Price | $499,000 |
| Median Household Income | $108,000 |