Zip 98040 (Mercer Island, WA) Housing

Mercer Island, WA, is an affluent area with a median housing value of $1,997,500. This is more than 5 times the median house value in the United States as a whole, which stands at $338,100. The appreciation rate of US houses over the last year was 8.27%, while Mercer Island experienced an appreciation rate of 7.43%. Homes in Mercer Island are becoming increasingly valuable and desirable due to its excellent quality of life and prime location close to major cities.

The median home cost in Mercer Island (zip 98040) is $1,997,500. Home appreciation the last 10 years has been 167.2%. Home Appreciation in Mercer Island (zip 98040) is up 14.8%.

Average Age of Homes

- The median age of Mercer Island (zip 98040) real estate is 45 years old

The Rental Market in Mercer Island (zip 98040)

- Renters make up 24.1% of the Mercer Island (zip 98040) population
- 2.5% of houses and apartments in Mercer Island (zip 98040), are available to rent

DID YOU KNOW

Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.

Median Monthly Rent by Number of Bedrooms

Housing by Year Built

Housing	Mercer Island, Washington	United States
	10,565.0	139,647,020.0
	48	42
	$1,997,500	$338,100
	14.8%	16.6%
	61.9%	57.0%
	167.2%	101.1%
	$9.02	$10.98
	$10,001	$2,690
	62.5%	57.4%
	7.6%	11.2%
	29.8%	31.4%
Vacant Housing
	2.5%	1.9%
	0.4%	0.4%
	0.3%	0.7%
	0.5%	0.4%
	0.9%	3.6%
	3.1%	4.1%
Value of Owner-Occupied Housing
	0.8%	2.6%
	0.0%	2.4%
	0.0%	2.8%
	0.0%	3.9%
	0.0%	4.5%
	0.3%	11.3%
	0.1%	13.0%
	1.8%	20.1%
	1.5%	13.6%
	2.3%	8.3%
	4.7%	9.7%
	9.8%	3.9%
	28.6%	2.2%
	22.0%	0.8%
	28.2%	1.1%
Housing Units by Year Structure Built
	0.4%	0.2%
	12.6%	13.6%
	12.6%	13.6%
	8.2%	13.6%
	8.9%	13.2%
	18.4%	14.8%
	8.2%	13.6%
	13.0%	10.0%
	5.3%	4.7%
	3.9%	12.2%

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