Lewis, Thurston and Grays Harbor Counties See Some of State’s Highest Home Price Increases, According to Study

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Lewis, Thurston and Grays Harbor Counties See Some of State's Highest Home Price Increases, According to Study

Alyse Messmer-Smith / The Bellingham Herald

A recent study by SmartAsset, a financial technology company, has found which Washington state counties have seen the most home price increases over five years.

The study found the top 10 counties that had the highest home price increases in Washington:

  1. Grays Harbor County – 110.53%
  2. Cowlitz County- 87.12%
  3. Spokane County – 81.72%
  4. Lewis County- 74.16%
  5. Thurston County- 71.74%
  6. Whatcom County- 70.79%
  7. Pierce County- 68.73%
  8. Kitsap County- 68.67%
  9. Franklin County- 68.36%
  10. Garfield County- 67.27%

The study also evaluated property taxes paid, the change in property values ​​throughout a five-year period and school ranking to find the locations where people are getting the most value for their property tax dollars.

To find a per capita property tax amount for each county, SmartAsset calculated the number of households, average property tax rate and median home value. SmartAsset gives credit to the US Census Bureau, the National Association of Realtors, Zillow and the Department of Education for its data.

Student test scores were also analyzed to then give each county a score between one and 10, 10 being the best, based on the average test scores of districts in each county. Grays Harbor received a score of 10, Kitsap received a nine and Spokane and Lincoln counties both received a score of eight.

Grays Harbor county had a home value growth of 110.53%, and ranked 783rd across the country. Spokane County also had a high home value growth of 81.72%, followed closely by Lewis County with 74.16%.

Pierce County had a 68.73% home value growth, and scored a seven for school rankings. Whatcom County had a home value growth of 70.79%, and scored a six in school rankings. Thurston County received a nine in school rankings, and had a 71.74% home value increase.

The recent increase in home values ​​has also been seen statewide.

According to Redfin’s Washington Market Overview, home prices increased 6% from Sept. 2021 to Sept. 2022, reaching a median price of $590,500.

Redfin also looked at the metro areas with the fastest-growing sale prices between Sept. 2021 and Sept. 2022.

The Mill Plain metro area near Vancouver, Wash., had the largest year-over-year growth, increasing by 42.6%. Richland, Aberdeen, Issaquah, Washougal, Snoqualmie, North Bend, Anacortes, Orting and Mukilteo were also among the top ten metro areas with the most growth, ranging from 32%-20% increase in sale prices.

Zillow also reported an increase in home value in Washington. According to Zillow, the state saw a 13% increase in value compared to last year, with a current typical home value of $613,674.

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