The story of this market
The typical home in Olympia-Lacey-Tumwater, Washington sells for about $549,636, or $315 per square foot.
Prices are up +3.1% from a year ago, so sellers still have some momentum. Homes take about 10 days to sell, which is fast. HUD's fair market rent for a two-bedroom is $1,850 a month.
Monthly price momentum
Home values since 2015
-0.2%
WA · past 12 months
Freddie Mac House Price Index, single-family homes, monthly through 2026-08. Each line starts at 100 in January 2015, so a reading of 180 means prices are up 80% since then.
Olympia-Lacey-Tumwater, Washington
The Olympia housing market remains competitive with low inventory and steady price appreciation, though the pace of growth has moderated compared to previous years. Demand is supported by a stable government-based economy and consistent population growth. Buyers should expect a fast-moving market, while sellers are seeing sustained value despite higher interest rates.
No ARED county foreclosure postings attributed to Olympia-Lacey-Tumwater yet — the verified ledger covers every county the foreclosure ingest has read, attributed by published city area. Key-figure check: median price corroborated by the published ten-year series (2025) (within 12.5%).
Median prices moved up 3.1% year over year.
Homes spend a median of 10 days on market with 4.2 months of supply — a fast-moving market.
28% of listings have cut prices · homes sell at 99.2% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 4.2% · poverty 10.5% — a stable, low-distress profile.
The amenity base that shapes daily life and property demand in this city — what residents actually live with, and what the pipeline is adding.
A large waterfront park featuring miles of trails, beaches, and picnic areas, serving as a primary recreational hub for the city.
The historic seat of state government, offering expansive grounds and architectural interest that anchors the city's identity.
A central boardwalk and park area on Budd Inlet that hosts community events and provides significant pedestrian access to the downtown waterfront.
Olympia is an ideal fit for government professionals, families seeking a stable community with access to quality schools, and outdoor enthusiasts. The city appeals to those who want a balance between urban amenities and proximity to nature. It is less suited for those requiring a high-intensity metropolitan lifestyle or immediate access to major tech hubs.
The Olympia School District is generally well-regarded, with several schools receiving high marks for academic performance and student support services. The district emphasizes a comprehensive curriculum, though performance can vary by specific neighborhood attendance zones. Families often prioritize proximity to top-rated elementary schools when selecting housing.
Olympia is served by Intercity Transit, which provides bus service throughout the city and connections to neighboring areas. The city is positioned along the I-5 corridor, facilitating regional travel, though local traffic can be heavy during peak hours. Commuter patterns are largely focused on state government offices and regional employment centers.
Olympia offers an extensive park system, including the expansive Priest Point Park and the waterfront trails along Budd Inlet. Residents enjoy proximity to the Olympic National Forest and various regional lakes, providing a high quality of life for outdoor enthusiasts. The downtown area features a vibrant mix of local dining, independent shops, and cultural venues.
The rental market in Olympia is characterized by low vacancy rates and steady demand driven by state employees and students. Rent growth has moderated recently, though supply remains tight for single-family rentals. Investor interest is present, particularly in multi-family developments near the city center.
The economy is heavily anchored by the Washington State government, which provides a stable employment base. Healthcare and education are also significant sectors, with major employers including Providence St. Peter Hospital and The Evergreen State College. The city maintains a steady economic trajectory with low unemployment relative to the state average.
As the state capital, Olympia benefits from a stable economic base anchored by government employment and a growing healthcare sector. Infrastructure investment is focused on downtown revitalization and improving transit connectivity to the broader Puget Sound region. Development momentum is steady, with a mix of infill residential projects and commercial expansion.
Current planning efforts are focused on increasing housing density through zoning updates and transit-oriented development. Major projects include the redevelopment of older commercial sites into mixed-use residential complexes to address the ongoing housing shortage.
Parcels in Olympia are subject to various special districts, including fire protection districts, emergency medical service districts, and local utility districts. These districts are funded through property tax levies that are separate from the general city and school district taxes.
Olympia experiences property crime rates that are higher than the national average, though violent crime remains relatively low compared to larger urban centers in the Pacific Northwest. Local law enforcement focuses on community-oriented policing to address downtown safety concerns. Trends have remained generally stable over the last reporting period.
The area faces moderate risks related to seismic activity and occasional winter storm-related wind damage. Flood risks are primarily concentrated in low-lying areas near the Deschutes River and Budd Inlet. Insurance markets remain stable, though premiums are increasingly sensitive to regional wildfire and climate-related risk assessments.
The property insurance market in Olympia is stable, though insurers are increasingly evaluating risks related to climate change and wildfire proximity. Homeowners are encouraged to maintain defensible space and ensure adequate coverage for seismic events.
Property taxes in Olympia are determined by a combination of state, county, and local school district levies, with rates calculated based on assessed value. The city does not impose a local income tax, relying instead on property and sales tax revenue. Special districts, including fire and emergency medical services, add to the total tax burden on residential parcels.
Researched annual trajectory for this city, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 8.4%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this city's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 6.7%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Data retrieved from data.census.gov for Olympia city, Washington.
No public schools report a street address in this area. Source: NCES EDGE public school locations 2023-24.
County linkage populates as this city's member ZIP reports roster beneath it.
No ZIP intel reports rostered under this city yet — property dossiers roll up through the ZIP tier, so the chain populates as the county refreshes discover them.