Island County, Washington Housing Market
In Island County, Washington, the median home value is $593,300, with a median monthly rent of $1,662. This places Island County at #87 nationally out of 3134 counties by median home value, and #4 within Washington.
📈 Price Trend (2017 → 2024)
📊 Recent Market Momentum (FHFA HPI)
FHFA House Price Index — All-Transactions, Annual (2000 = 100) · Latest: 2025
📍 Economic Snapshot
Employment & Wages
- Avg weekly wage: $1,174
- Establishments: 2,103
- BLS QCEW, 2025
Housing Supply
- Single-family: 181
- Multi-family: 28
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 39,292 (avg $100,498)
- Outflow: 36,060 (avg $99,751)
- IRS Statistics of Income
📍 Sub-Market Activity
Top 7 active ZIP codes in Island County · Latest: 2025
| # | ZIP Code | HPI | YoY Change | Latest Year |
|---|---|---|---|---|
| 1 | 98253 | 382.1 | +7.96% | 2024 |
| 2 | 98260 | 365.5 | +0.60% | 2025 |
| 3 | 98236 | 331.7 | +8.14% | 2025 |
| 4 | 98239 | 322.0 | -3.44% | 2025 |
| 5 | 98277 | 332.4 | +5.39% | 2025 |
| 6 | 98282 | 343.6 | -0.36% | 2025 |
| 7 | 98249 | 339.8 | +0.85% | 2025 |
Source: FHFA HPI for Five-Digit ZIP Codes (All-Transactions Index, 2000 = 100).
This product uses FHFA Data but is neither endorsed nor certified by FHFA.
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💰 Mortgage Guide → 🧾 Property Tax Data →How Island County Compares
| Metric | Island County | Washington Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $593,300 | $436,312 | $227,706 |
| Median Gross Rent | $1,662 | $1,251 | $968 |
| Owner Occupancy Rate | 74.7% | 71.3% | 73.3% |
| Price/Rent Ratio | 29.7 | 29.2 | 18.7 |
Market Analysis
The median home value in Island County is 36.0% above the Washington state average and 160.6% above the U.S. national average. The median rent of $1,662/month is 32.9% above the state average.
With a price-to-rent ratio of 29.7, Island County is a strongly rent-favored market. Home prices are high relative to rents, meaning renting is typically far cheaper than owning in the near term.
Island County has an owner-occupancy rate of 74.7%, compared to 71.3% in Washington and 73.3% nationally. This indicates a more homeowner-heavy market than the U.S. average.
Similar Counties by Home Value
| County | State | Median Home Value | Median Rent |
|---|---|---|---|
| La Plata County | Colorado | $591,500 | $1,504 |
| Rockland County | New York | $596,900 | $1,901 |
| Howard County | Maryland | $597,900 | $2,099 |
| Washington County | Oregon | $588,000 | $1,849 |
| Whatcom County | Washington | $585,800 | $1,555 |
Other Counties in Washington
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Whatcom County | $585,800 | $1,555 | 63.7% |
| Kitsap County | $555,100 | $1,822 | 70.1% |
| Skagit County | $545,100 | $1,536 | 70.1% |
| Jefferson County | $535,000 | $1,522 | 79.0% |
| Skamania County | $529,500 | $1,068 | 80.0% |
Data Source: U.S. Census Bureau, American Community Survey (ACS) 2024 5-Year Estimates (2017–2024). Variables: B25077 (Median Home Value), B25064 (Median Gross Rent), B25003 (Tenure). Data collected on 2026-10-14. The price-to-rent ratio is calculated as Median Home Value ÷ (Median Monthly Rent × 12).