Olympia housing market
Typical home value
$521K
▲ 0.1% 1 yr
Typical rent
$2,043/mo
▲ 2.5% 1 yr
12-month forecast
+0.3%
#445 of 546 metros
Gross rent yield
4.7%
#445 of 546 · U.S. 6.3%
Days to pending
50 days
▲ +12 days 1 yr
Listings with a price cut
35%
▼ −0.2 pts 1 yr
Key takeaways
- 1The typical home is worth $521,365, up 0.1% in a year and up 11% over five years.
- 2Zillow forecasts home values rising 0.3% over the next 12 months (U.S.: +1.1%).
- 3Typical rent is $2,043/mo (+2.5% YoY), a 4.7% gross yield, below the U.S. 6.3%.
- 4At 7.32% with 20% down, the typical home costs $2,865/mo in principal and interest, $822 more than renting.
- 5Homes go under contract in 50 days (+12 days vs last year); 35% of listings have had a price cut.
Market temperature
Strong buyer's market
Buyer'sNeutralSeller's
Zillow Market Heat Index: 19/100, #538 hottest of 546 metros. Below 44 favors buyers; above 55 favors sellers.
Home values and rent
How fast homes are selling
For saleNew listings
Affordability
To buy (20% down)To rent
Source: Zillow Research (ZHVI, ZORI and market activity data).
How Olympia compares
| Measure | Olympia | United States | Rank of 546 |
|---|---|---|---|
| Home value, 1-yr change | +0.1% | +1.2% | #443 |
| Home value, 5-yr change | +11.0% | +19.7% | |
| 12-month forecast | +0.3% | +1.1% | #445 |
| Rent, 1-yr change | +2.5% | +2.7% | #355 |
| Gross rent yield | 4.7% | 6.3% | #445 |
| Price-to-rent ratio | 21.3 | 15.8 | |
| Mortgage P&I on typical home | $2,865 | $2,012 | |
| Income needed to buy | $140,719 | $100,902 | |
| Days to pending | 50 | 56 |
Cities in the Olympia metro
4 cities with home value and rent data.
| Lacey | $507K | ■ 0.0% | $2,075 | ▲ 2.0% | 4.9% |
| Olympia | $526K | ▼ 0.3% | $1,969 | ▲ 2.8% | 4.5% |
| Yelm | $480K | ▲ 0.2% | $2,364 | ▲ 9.2% | 5.9% |
| Tumwater | $520K | ▲ 0.7% | $2,051 | ▲ 3.1% | 4.7% |
Run the numbers
Rental property calculator
Cash flow on a typical Olympia rental ($521K, $2,043/mo), pre-filled.
Mortgage calculator
Monthly payment on a typical Olympia home.
Rent vs buy
Is it cheaper to rent or buy in Olympia?
Other Washington metros
Seattle, WA
$720K home$2,250 rent3.7% yield
▼ 1.6% 1 yr
Spokane, WA
$415K home$1,512 rent4.4% yield
▲ 0.2% 1 yr
Kennewick, WA
$437K home$1,695 rent4.7% yield
▲ 0.4% 1 yr
Bremerton, WA
$579K home$2,052 rent4.3% yield
▲ 1.1% 1 yr
Yakima, WA
$348K home$1,362 rent4.7% yield
▲ 0.5% 1 yr
Bellingham, WA
$608K home$1,951 rent3.9% yield
▲ 0.3% 1 yr
Mount Vernon, WA
$576K home$2,185 rent4.5% yield
▲ 0.7% 1 yr
Wenatchee, WA
$518K home$1,756 rent4.1% yield
▲ 0.8% 1 yr
Gross yield = 12 × typical rent ÷ typical home value, before expenses. Mortgage estimate: 20% down, 30-year fixed at the current Freddie Mac average, principal and interest only. Forecast: Zillow Home Value Forecast. Data refreshed Oct 26, 2026.