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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Bellingham, WA Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2024. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Bellingham, WA Housing Market Trends

With a population of 93,896, 40,085 total housing units (homes and apartments), and a median house value of $672,042, real estate costs in Bellingham are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive Washington communities.

Single-family detached homes are the single most common housing type in Bellingham, accounting for 44.37% of the city's housing units. Other types of housing that are prevalent in Bellingham include large apartment complexes or high rise apartments ( 37.51%), duplexes, homes converted to apartments or other small apartment buildings ( 11.58%), and a few row houses and other attached homes ( 4.05%).

People in Bellingham primarily live in small (one, two or no bedroom) single-family detached homes. Bellingham has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Bellingham built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Bellingham built between 2000 and later ( 28.15%). A lesser amount of the housing stock also hails from before 1939 ( 16.86%). There's also some housing in Bellingham built between 1940-1969 ( 12.93%).

Bellingham Home Appreciation Rates

In the last 10 years, Bellingham has experienced some of the highest home appreciation rates of any community in the nation. Bellingham real estate appreciated 129.43% over the last ten years, which is an average annual home appreciation rate of 8.66%, putting Bellingham in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Bellingham definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Over the last year, Bellingham appreciation rates have trailed the rest of the nation. In the last twelve months, Bellingham's appreciation rate has been 1.90%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Bellingham were at 5.19%, which equates to an annual appreciation rate of 22.44%.

Importantly, NeighborhoodScout’s exclusive research found that Bellingham's housing market shows one of the <a href="/blog/highest-appreciating-cities">top real estate appreciation rates in the U.S.A.</a> in the latest quarter, which may signal the city’s near-future real estate investment strength.

Relative to Washington, our data show that Bellingham's latest annual appreciation rate is lower than 50% of the other cities and towns in Washington.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Bellingham differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Bellingham - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Bellingham real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$672,042

Bellingham, WA Home Prices
> $1,351,000
$1,013,001 - $1,351,000
$676,001 - $1,013,000
$540,001 - $676,000
$405,001 - $540,000
$270,001 - $405,000
$135,001 - $270,000
$68,001 - $135,000
$0 - $68,000
5.5%
5.5%
11.4%
11.4%
30.4%
30.4%
20.6%
20.6%
14.3%
14.3%
10.5%
10.5%
2.9%
2.9%
2.3%
2.3%
2.2%
2.2%
0% 100.0%
% of Homes
High

for Washington

Very High

for nation

Number of Homes And Apartments:

40,085

Bellingham Appreciation Rates

Rent & Ownership

Average Market Rent:

$2,145 / per month

Homeownership Rate

Owners
Renters
43.5%
43.5%
56.5%
56.5%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
5.4%
5.4%
94.6%
94.6%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
28.1%
28.1%
42.1%
42.1%
12.9%
12.9%
16.9%
16.9%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
44.4%
44.4%
4.1%
4.1%
11.6%
11.6%
37.5%
37.5%
2.5%
2.5%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
7.8%
7.8%
15.2%
15.2%
33.4%
33.4%
29.4%
29.4%
12.0%
12.0%
2.3%
2.3%
0% 100.0%
% of Homes