Real Estate Investing in Snoqualmie Pass, Washington (98068)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 98068 (Snoqualmie Pass, WA)? Our answer, based on the numbers below.
Multiple negative signals. Better options likely exist nearby.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 67.6% of homes vacant — above national norms.
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
- High price-to-rent: Price-to-rent ratio 37.2 — hard to cash-flow at these prices.
• Limited market data — this is a very small market; averages are built from few observations and can swing widely. • Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Snoqualmie Pass, WA (98068)?
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Market Analysis: 98068 Snoqualmie Pass
Investors eyeing 98068 need to respect the fundamentals at play. Home values of $869K come alongside slower price movement and elevated management overhead.
Rent of $1,944/mo on a $869K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 98068 sits below the stated 0.0% once reality is priced in.
From a cash-flow lens, 98068 offers a low basis, the region around Snoqualmie Pass has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
From an investor standpoint, 442 residents fill the ZIP, renter turnover runs higher than neighboring postal codes and delinquency risk is a real line item rather than a theoretical one.
New investors are better served looking at Snoqualmie Pass's stable or hybrid ZIPs before stepping into 98068. The learning curve here is expensive when the lesson is wrong.
Here's what matters if you're considering buying a home in Snoqualmie Pass:
Property Strategy for 98068
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $796,902 | $2,160 | 2.0% | +8.3% | $398,451 |
| 3BR | $1,086,310 | $2,850 | 1.9% | +9.3% | $362,103 |
Market Trends
Home Value History (with trend line)
📊 How Does 98068 Compare?
| Metric | 98068 | Snoqualmie Pass | Ellensburg, WA | Washington |
|---|---|---|---|---|
| Home Value | $868,650 | $868,650 | N/A | $591,536 |
| 5-Year CAGR | 5.3% | 5.3% | N/A | 5.9% |
| Avg Rent | $1,944 | $1,944 | N/A | - |
| Cap Rate | 1.8% | 1.8% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 98068 (Snoqualmie Pass, WA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $868,650 |
| Monthly Rent | $1,944 |
| Price-to-Rent | 37.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 2.7% |
| Cap Rate | 1.8% |
| 5-Year IRR | 7.1% |
📈 Home Appreciation
| 1-Year | +3.5% ▲ |
| 3-Year CAGR | +2.9% ▲ |
| 5-Year CAGR | +5.3% ▲ |
| 10-Year CAGR | +10.0% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (1.8%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 98068
Population: 442
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
Frequently Asked Questions
What is the typical rental rate in Snoqualmie Pass, WA?
Investors in Snoqualmie Pass, WA typically see rents near $1,944/mo per month against $869K home values - a solid setup for rental cash flow.
What is the median home value in Snoqualmie Pass, WA?
Expect median prices around $869K in Snoqualmie Pass, WA. The market has run at a 0.0% 5-year CAGR, so entry costs have been reliable.
How do experienced investors play Snoqualmie Pass, WA?
The best-fit strategy in Snoqualmie Pass, WA is careful cash-flow rentals with hands-on management. That approach the rent and price profile of the market.
Is it easy to find good tenants in Snoqualmie Pass, WA?
Tenant demand in Snoqualmie Pass, WA is solid. The local workforce $1,944/mo rents across most rental classes.
Is Snoqualmie Pass, WA a smart market for rental property?
The 3.0/5 investability rating in Snoqualmie Pass, WA reflects its $869K prices and $1,944/mo rents. Investors generally consider it a solid option within WA.
You know 98068 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 98068 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 98068 ranks in Ellensburg, WA
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