Real Estate Investing in Friday Harbor, Washington (98250)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 98250 (Friday Harbor, WA)? Our answer, based on the numbers below.
Multiple negative signals. Better options likely exist nearby.
Structural challenges here. The numbers may look cheap but operational risk is high. Only for experienced, hands-on investors.
- High vacancy: 28.5% 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 45.2 — hard to cash-flow at these prices.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Friday Harbor, WA (98250)?
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Market Analysis: 98250 Friday Harbor
This part of San Juan County is not an easy win. The 98250 ZIP shows softness in key indicators, and the playbook that works in cleaner markets often stalls here.
Rent of $1,629/mo on a $884K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 98250 sits below the stated 0.0% once reality is priced in.
Statewide comparisons place 98250 among WA's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
Demographically, 98250 is a market where tenant selection matters more than unit finishes. Operators who understand that tend to do fine; those who do not tend to learn why the ZIP trades at a discount.
The right play in 98250 usually involves deep tenant screening, aggressive delinquency response, and a conservative capex buffer. Anything less, and the discount can turn into a trap.
Here's what matters if you're considering buying a home in Friday Harbor:
Property Strategy for 98250
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $677,694 | $1,380 | 1.5% | +6.7% | $677,694 |
| 2BR | $848,551 | $1,810 | 1.5% | — | $424,276 |
| 3BR | $937,467 | $2,400 | 1.8% | +7.0% | $312,489 |
| 4BR | $1,097,043 | $2,400 | 1.6% | — | $274,261 |
Market Trends
Home Value History (with trend line)
📊 How Does 98250 Compare?
| Metric | 98250 | Friday Harbor | Washington |
|---|---|---|---|
| Home Value | $883,733 | $883,733 | $591,536 |
| 5-Year CAGR | 2.2% | 2.2% | 5.9% |
| Avg Rent | $1,629 | $1,629 | - |
| Cap Rate | 1.4% | 1.4% | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 98250 (Friday Harbor, WA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $883,733 |
| Monthly Rent | $1,629 |
| Price-to-Rent | 45.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 2.2% |
| Cap Rate | 1.4% |
| 5-Year IRR | 3.7% |
📈 Home Appreciation
| 1-Year | +2.2% ▲ |
| 3-Year CAGR | +0.6% ▲ |
| 5-Year CAGR | +2.2% ▲ |
| 10-Year CAGR | +6.7% ▲ |
🏠 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 (1.4%). 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 98250
Population: 9,127
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
🎓 Schools in 98250
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
Frequently Asked Questions
Is Friday Harbor, WA a good market for buy-and-hold investors?
Investors tracking Friday Harbor, WA will find a 2.0/5 rating supported by $884K median home values and $1,629/mo rents. That profile suits long-term holders targeting stable returns.
Are rents high in Friday Harbor, WA?
Friday Harbor, WA rentals go for roughly $1,629/mo a month. That puts gross yield in solid territory relative to $884K acquisition costs.
What is the median home value in Friday Harbor, WA?
Expect median prices around $884K in Friday Harbor, WA. The market has run at a 0.0% 5-year CAGR, so entry costs have been consistent.
What kind of vacancy should I budget for in Friday Harbor, WA?
Occupancy in Friday Harbor, WA runs consistent with elevated vacancy. Well-priced units at $1,629/mo lease on reasonable timelines.
Is rental property easy to operate in Friday Harbor, WA?
The landlord environment in Friday Harbor, WA is tenant-protective. Statewide rules shape most day-to-day operations for rental owners.
You know 98250 now. You don’t know where it ranks.
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