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Vancouver, Washington

In Vancouver, Washington, $303,788 is the house value median. In the last year, the worth of houses has increased by 10.0 percent.

In the following year, it is predicted that the value of houses will increase 4.2 percent. Per square foot, the list cost median is $209 in Vancouver. The Portland Metro Area has a higher per square foot average of $223.

In Vancouver, $335,000 is the presently listed house cost median. $307,400 is the house cost median for houses that have sold.

In the city of Vancouver Washington, $1,662 is the rent cost median. The rent cost median in the Metro area of Portland is higher. It’s $1,800.

With the cost of homes increasing at a strong rate, and interest rates gradually on the increase, it’s getting more and more difficult for so many people to move from the rental market to the homeownership market. It’s getting very important for those who want to purchase their first home to tighten their belt and save more money, as well as earn more money.

A factor that will have an impact on the value of houses for the following few years is the foreclosure rate. As the number of foreclosures goes up in an area, the value of houses will tend to go down in that area The number of short sales has a similar effect.

1.9 houses are foreclosed for every 10,000 houses in the city of Vancouver. The metro area of Portland has a higher foreclosure rate which is 2.6 houses foreclosed on per 10,000 houses. And this is higher than the national foreclosure rate which is 1.6 houses foreclosed for every 10000 houses.

There is a first step that house owners go through in the process of foreclosure. And that is mortgage delinquency. Homeowners get a mortgage delinquency when they fail to make a mortgage payment on their home.

The city of Vancouver has a fairly low foreclosure rate. It’s 0.9 percent. This is lower than the United States foreclosure rate which is 1.6 percent.

The recession of 2008 had a big impact on the value of houses in the United States. Houses declined in their worth more than 20 percent. Today there are so many homeowners who are experiencing being underwater on their mortgages. Being underwater is defined as a homeowner owing more on their mortgage than the worth of the home.

When an owner of a house is underwater on their mortgage, it means if they were to sell their house today, they would owe money to complete the sale of their house. 4.8 is the percent of house owners in Vancouver who are experiencing being under water. The Metro Area of Portland has a lower percentage of house owners underwater. It’s 4.2 percent.