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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 20,828 people, 8,378 houses or apartments, and a median cost of homes of $986,870, Mill Creek house prices are not only among the most expensive in Washington, Mill Creek real estate also is some of the most expensive in all of America.
Single-family detached homes are the single most common housing type in Mill Creek, accounting for 50.12% of the city's housing units. Other types of housing that are prevalent in Mill Creek include large apartment complexes or high rise apartments ( 37.84%), row houses and other attached homes ( 9.32%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.45%).
The most prevalent building size and type in Mill Creek are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 60.53% owning and 39.47% renting.
There is a lot of housing in Mill Creek 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 Mill Creek built between 2000 and later ( 38.10%). A lesser amount of the housing stock also hails from between 1940-1969 ( 2.04%).
In the last 10 years, Mill Creek has experienced some of the highest home appreciation rates of any community in the nation. Mill Creek real estate appreciated 141.26% over the last ten years, which is an average annual home appreciation rate of 9.21%, putting Mill Creek in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Mill Creek 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, Mill Creek appreciation rates have trailed the rest of the nation. In the last twelve months, Mill Creek's appreciation rate has been 3.06%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Mill Creek were at 3.14%, which equates to an annual appreciation rate of 13.15%.
Importantly, this makes Mill Creek one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.
Relative to Washington, our data show that Mill Creek's latest annual appreciation rate is higher than 50% of the other cities and towns in Washington.
$986,870
for Washington
for nation
8,378
$3,607 / per month