Are home prices going down in Washington?

Home values in Washington are down 0.5% over the last year. Zillow's forecast for the next 12 months is +0.3%.

How much do you need to earn to buy a home in Washington?

A household needs about $127,365 a year to afford the typical home in Washington at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $99,309.

Washington housing market

Data through September 2026 · updated 2026-11-07 · free, from Zillow, Realtor.com, the Census Bureau and other public sources

Typical home value$587,533−0.5% YoY · prices are flat

Market right nowBuyer's marketMore homes for sale than last year, 24% have cut their price

Income needed to buy, per year$127,365About 1.3× the local median income ($99,309): a stretch for a typical household

Days on market61 daysSlower than a year ago: buyers have time to negotiate

Next 12 months+0.3%Zillow expects prices to stay about flat

The typical home in Washington is worth $587,533, down 0.5% from a year ago. That is slightly above what local incomes have historically supported: fair value is about $551,165, so the area is 6.6% overvalued. It is a buyer's market: homes take about 61 days to sell, listings are up 22% from a year ago, 24% of listings have had a price cut. Zillow expects prices to rise about 0.3% over the next year. A household needs about $127,365 a year to afford the typical home here at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $99,309. In the latest IRS figures, 2,338 more people moved out than in.

Home value over time

Solid: typical home value · dashed: fair value (household income × the 20-year average price-to-income ratio). Sources: FHFA, Zillow, U.S. Census Bureau.

Prices and affordability

Typical home value	$587,533
Change in 1 year	−0.5%
Overvalued %	+6.6%

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Fair home value	$551,165
Change in 5 years	+10.5%
Zillow forecast, next 12 months	+0.3%
Home value to income	5.9×
Monthly mortgage payment (20% down)	$3,184
Income needed to afford it	$127,365
Property tax rate	0.81%

Rent and investing

HUD Fair Market Rent, 2 bedrooms

$2,045

Market activity

Listings vs a year ago	+21.6%
Days on market	61
Listings with a price cut	23.5%

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Homes for sale	28,677
Pending sales per 100 listings	26
Asking price per sq ft	$337

People and jobs

Median household income	$99,309
Population change (1 year)	+0.9%
Unemployment rate	5.1%

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Population	8,001,020
Income adjusted for cost of living	$92,812
Net moves in (IRS)	−2,338
Cost of living (US = 100)	107.0

Schools, risk and environment

FEMA hazard risk score (0 to 100)	92.8
Unhealthy air days a year	1
Flood risk score	92.0

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Wildfire risk score	74.2
Walkability (1 to 20)	10.5
Road, rail and air noise	53 dB

Questions people ask

Is Washington overvalued?: Home prices in Washington are slightly above what local incomes have historically supported: fair value is about $551,165, so the area is 6.6% overvalued.
Is Washington a buyer's or seller's market?: Washington is a buyer's market: homes take about 61 days to sell, listings are up 22% from a year ago, 24% of listings have had a price cut.
Are home prices going down in Washington?: Home values in Washington are down 0.5% over the last year. Zillow's forecast for the next 12 months is +0.3%.
How much do you need to earn to buy a home in Washington?: A household needs about $127,365 a year to afford the typical home in Washington at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $99,309.

Metro areas

Seattle-Tacoma-Bellevue, WA Portland-Vancouver-Hillsboro, OR-WA Spokane-Spokane Valley, WA Kennewick-Richland, WA Olympia-Lacey-Tumwater, WA Bremerton-Silverdale-Port Orchard, WA Yakima, WA Bellingham, WA Mount Vernon-Anacortes, WA Wenatchee-East Wenatchee, WA Longview-Kelso, WA Lewiston, ID-WA Walla Walla, WA

Counties

See every chart for Washington on the map