Real Estate Investing in Cle Elum, Washington (98922)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 98922 (Cle Elum, 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: 34.3% 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 25.1 — hard to cash-flow at these prices.
What’s happening in Cle Elum, WA (98922)?
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Market Analysis: 98922 Cle Elum
Investors eyeing 98922 need to respect the fundamentals at play. Home values of $633K come alongside slower price movement and elevated management overhead.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $633K asset, 98922 is the wrong submarket. If the plan prices in friction, the yield can still work.
Turning to rents, 98922 offers a low basis, the region around Cle Elum has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
Who lives in 98922 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
Strategically, 98922 can be a high-return sleeve of a diversified portfolio — but it should not be the whole portfolio, and it should not be someone's first deal.
Here's what matters if you're considering buying a home in Cle Elum:
Property Strategy for 98922
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $384,679 | $1,000 | 1.9% | +5.8% | $384,679 |
| 2BR | $529,911 | $1,310 | 1.8% | +7.3% | $264,955 |
| 3BR | $774,312 | $1,820 | 1.7% | +6.7% | $258,104 |
| 4BR | $1,331,614 | $2,200 | 1.2% | +8.4% | $332,903 |
| 5BR | $1,963,790 | — | — | +7.6% | $392,758 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 98922 Compare?
| Metric | 98922 | Cle Elum | Ellensburg, WA | Washington |
|---|---|---|---|---|
| Home Value | $632,861 | $632,861 | N/A | $591,536 |
| 5-Year CAGR | 2.9% | 2.9% | N/A | 5.9% |
| Avg Rent | $2,100 | $2,100 | N/A | - |
| Cap Rate | 2.6% | 2.6% | - | - |
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 98922 (Cle Elum, WA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $632,861 |
| Monthly Rent | $2,100 |
| Price-to-Rent | 25.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.0% |
| Cap Rate | 2.6% |
| 5-Year IRR | 5.5% |
📈 Home Appreciation
| 1-Year | +4.9% ▲ |
| 3-Year CAGR | +0.6% ▲ |
| 5-Year CAGR | +2.9% ▲ |
| 10-Year CAGR | +7.8% ▲ |
🏠 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 (2.6%). 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 98922
Population: 7,915
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 98922
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
How does Cle Elum, WA stack up for property investment?
With a 3.0/5 investability score, Cle Elum, WA ranks as a solid market for rental property investors. Median prices of $633K and rents of $2,100/mo drive the underlying numbers.
How deep is the rental pool in Cle Elum, WA?
Cle Elum, WA draws a reliable base of working renters. Demand at the $2,100/mo rent level is reasonable for standard single-family and small multi rentals.
What is the smart move for investors in Cle Elum, WA?
A careful cash-flow rentals with hands-on management strategy Cle Elum, WA best. The market produces even-keeled results for that approach at the $633K price point.
Can I live-in-and-rent in Cle Elum, WA?
Cle Elum, WA offers a challenging house-hacking opportunity. Small multifamily or rent-by-the-room plays can pair well with the $2,100/mo rent level.
Do rentals sit vacant long in Cle Elum, WA?
Occupancy in Cle Elum, WA runs measured with elevated vacancy. Well-priced units at $2,100/mo lease on reasonable timelines.
You know 98922 now. You don’t know where it ranks.
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How 98922 ranks in Ellensburg, WA
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