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 4,513 people, 1,223 houses or apartments, and a median cost of homes of $184,345, house prices in Wapato are solidly below the national average.
Single-family detached homes are the single most common housing type in Wapato, accounting for 64.59% of the city's housing units. Other types of housing that are prevalent in Wapato include large apartment complexes or high rise apartments ( 20.32%), duplexes, homes converted to apartments or other small apartment buildings ( 7.62%), and a few mobile homes or trailers ( 5.39%).
The most prevalent building size and type in Wapato are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 51.30% owning and 48.70% renting.
There is a lot of housing in Wapato 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 Wapato built between 1940-1969 ( 30.33%). A lesser amount of the housing stock also hails from before 1939 ( 20.55%). There's also some housing in Wapato built between 2000 and later ( 15.24%).
In the last 10 years, Wapato has experienced some of the highest home appreciation rates of any community in the nation. Wapato real estate appreciated 123.19% over the last ten years, which is an average annual home appreciation rate of 8.36%, putting Wapato in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Wapato 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, Wapato appreciation rates have trailed the rest of the nation. In the last twelve months, Wapato's appreciation rate has been -1.98%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Wapato were at 3.02%, which equates to an annual appreciation rate of 12.65%.
Importantly, this makes Wapato 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 Wapato's latest annual appreciation rate is lower than 80% of the other cities and towns in Washington.
$184,345
for Washington
for nation
1,223
$1,372 / per month