APRIL2019 Bellingham Metro - files.zillowstatic.com · APRIL2019 Bellingham Metro National Rents...
Transcript of APRIL2019 Bellingham Metro - files.zillowstatic.com · APRIL2019 Bellingham Metro National Rents...
www.zillow.com/research/
APRIL2019 Bellingham Metro
National Rents
Current: $1,477Monthly Change: 0.2%Annual Change: 2.6%
Bellingham Metro Rents
Current: $1,751Monthly Change: 0.2%Annual Change: 11.9%
Breakeven Horizon–
Major Cities - Rents
BellinghamCurrent: $1,823Monthly Change: 0.3%Annual Change: 11.2%Breakeven Horizon: 2.3 years
FerndaleCurrent: $1,733Monthly Change: 0.4%Annual Change: 10.9%Breakeven Horizon: 2.2 years
LyndenCurrent: $1,751Monthly Change: 0.2%Annual Change: 10.2%Breakeven Horizon: 2.2 years
BlaineCurrent: $1,587Monthly Change: 0.1%Annual Change: 6.4%Breakeven Horizon: 2.1 years
Sudden ValleyCurrent: $1,763Monthly Change: 0.5%Annual Change: 12.8%Breakeven Horizon: –
Esri, HERE, DeLorme, MapmyIndia, © OpenStreetMap contributors, and the GIS user community
City ZRI Year-over-Year2.0% 2.1% - 4.9% 5.0% - 6.4% 6.5% - 11.2% 11.3% - 12.8%
Metro Cities: Top/Bottom by Annual Rent AppreciationTop:Sudden Valley 12.8%
Custer 12.4%
Bellingham 11.2%
Ferndale 10.9%
Lynden 10.2%
Bottom:Maple Falls 2%
Sumas 3.8%
Deming 4.2%
Everson 4.4%
Point Roberts 4.9%
Metro Neighborhoods: Top/Bottom by Annual Rent AppreciationTop:York 15%
Guide Meridian 9.5%
Lettered Streets 9.5%
Edgemoor 9.5%
Mt. Baker 8.7%
Bottom:Samish Hill 1.9%
South Hill 4%
Cornwall Park 6%
Roosevelt 6.9%
Sehome 7.1%
How do we measure rents? To track rents, we use the Zillow Rent Index (ZRI). The
ZRI is the midpoint of estimated rents in a given region. Half the estimated rental prices
are above this number and half are below.
What is the Breakeven Horizon? The Breakeven Horizon in the number of years you
must live in a home before owning the same home becomes more financially advantageous
than renting the home. For example, if ’City X’ had a Breakeven Horizon of 5.5 years,
it is financially better for you to rent in ’City X’ unless you plan on living there for more
than 5.5 years.
APRIL2019
*Top cities and neighborhoods by size within the metro are listed. Additional counties, cities, neighborhoods and zip codes may be available online at
www.zillow.com/research/data or by emailing [email protected]
Zillow Research:Zillow R© is the leading real estate and rental marketplace dedicated to empowering consumers with data, inspiration and knowledge around the placethey call home, and connecting them with the best local professionals who can help. In addition, Zillow operates an industry-leading economics andanalytics bureau led by Zillow’s Chief Economist Dr. Svenja Gudell. Dr. Gudell and her team of economists and data analysts produce extensive housingdata and research covering more than 450 markets at Zillow Real Estate Research. Zillow also sponsors the quarterly Zillow Home Price ExpectationsSurvey, which asks more than 100 leading economists, real estate experts and investment and market strategists to predict the path of the Zillow HomeValue Index over the next five years. Zillow also sponsors the bi-annual Zillow Housing Confidence Index (ZHCI) which measures consumer confidence inlocal housing markets, both currently and over time. Launched in 2006, Zillow is owned and operated by Zillow Group (NASDAQ: Z), andheadquartered in Seattle.
www.zillow.com/research/
Largest Cities Covered by Zillow
Bre
akev
enH
oriz
on(y
rs)
Ren
ts(Z
RI)
All
Hom
es($
)
Ren
ts(Z
RI)
YoY
(%)
Med
ian
ren
tlis
tpr
ice
($)
Ren
tes
tim
ate/
sq.
ft.
($)
Bellingham 2.3 1,823 11.2 2,000 1.1Blaine 2.1 1,587 6.4 1.1Custer 1,787 12.4 0.9Deming 1.9 1,502 4.2 1.1Everson 2 1,533 4.4 1Ferndale 2.2 1,733 10.9 1Lummi Island 1,775 9.9 1.2Lynden 2.2 1,751 10.2 0.9Maple Falls 1.5 1,351 2 1Point Roberts 1.7 1,485 4.9 1.4Sudden Valley 1,763 12.8 1Sumas 2 1,518 3.8 0.9
Bre
akev
enH
oriz
on(y
rs)
Ren
ts(Z
RI)
All
Hom
es($
)
Ren
ts(Z
RI)
YoY
(%)
Med
ian
ren
tlis
tpr
ice
($)
Ren
tes
tim
ate/
sq.
ft.
($)
North Garden 1,611 9 1.1Palmyra 2 1,430 4.6 0.8Roseland 2.1 1,435 5.4 1.1Ruckersville 2.1 1,464 6.1 1Schuyler 1.2 1,231 -2.9 1Scottsville 1,277 -0.9 1Shipman 1.3 1,188 2.3 0.9Stanardsville 1.8 1,348 3.9 1Troy 2.5 1,540 6.2 0.8Wingina 1,206 1.3 0.9
Largest Neighborhoods Covered by Zillow
Bre
akev
enH
oriz
on(y
rs)
Ren
ts(Z
RI)
All
Hom
es($
)
Ren
ts(Z
RI)
YoY
(%)
Med
ian
ren
tlis
tpr
ice
($)
Ren
tes
tim
ate/
sq.
ft.
($)
Alabama Hill 2.4 1,967 7.6 1Birchwood 2.2 1,607 7.4 1.2Columbia 2.5 1,773 7.7 1.3Cornwall Park 2.5 1,837 6 1.2Edgemoor 2.7 2,821 9.5 1.2Guide Meridian 2.2 1,516 9.5 1.2Lettered Streets 2.4 1,652 9.5 1.3Mt. Baker 2.3 1,860 8.7 1.1Puget 2.2 1,907 7.8 1.1Roosevelt 2.2 1,598 6.9 1.2
Bre
akev
enH
oriz
on(y
rs)
Ren
ts(Z
RI)
All
Hom
es($
)
Ren
ts(Z
RI)
YoY
(%)
Med
ian
ren
tlis
tpr
ice
($)
Ren
tes
tim
ate/
sq.
ft.
($)
Samish Hill 2.4 2,135 1.9 1Sehome 2.2 1,606 7.1 1.3South 2.6South Hill 2.9 2,058 4 1.2Sunnyland 2.3 1,632 8.7 1.4Whatcom Falls 2.3 2,009 8.4 1.1York 2.3 1,777 15 1.3