Real Estate Investing in Ellensburg, Washington (98926)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 98926 (Ellensburg, WA)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
What’s happening in Ellensburg, WA (98926)?
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Market Analysis: 98926 Ellensburg
Investors eyeing 98926 need to respect the fundamentals at play. Home values of $466K come alongside slower price movement and elevated management overhead.
Distressed does not mean uninvestable. It means the margin for error is thinner. ZIP 98926 rewards the prepared, punishes the overconfident, and leaves the math unchanged either way.
Statewide comparisons place 98926 among WA's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
A significant renter share of 46% in 98926 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
Strategy in 98926 is an operator game, not a passive one. Stepping back, entry prices of $466K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Ellensburg:
Property Strategy for 98926
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $338,372 | $1,110 | 2.4% | +5.4% | $338,372 |
| 2BR | $346,826 | $1,450 | 3.0% | +5.7% | $173,413 |
| 3BR | $467,961 | $2,020 | 3.1% | +5.9% | $155,987 |
| 4BR | $535,359 | $2,430 | 3.3% | +5.8% | $133,840 |
| 5BR | $553,508 | — | — | +5.4% | $110,702 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 98926 Compare?
| Metric | 98926 | Ellensburg | Ellensburg, WA | Washington |
|---|---|---|---|---|
| Home Value | $466,335 | $466,335 | N/A | $591,536 |
| 5-Year CAGR | 3.0% | 3.0% | N/A | 5.9% |
| Avg Rent | $1,757 | $1,757 | N/A | - |
| Cap Rate | 2.9% | 2.9% | - | - |
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 98926 (Ellensburg, WA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $466,335 |
| Monthly Rent | $1,757 |
| Price-to-Rent | 22.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.5% |
| Cap Rate | 2.9% |
| 5-Year IRR | 6.0% |
📈 Home Appreciation
| 1-Year | +2.0% ▲ |
| 3-Year CAGR | +0.8% ▲ |
| 5-Year CAGR | +3.0% ▲ |
| 10-Year CAGR | +6.8% ▲ |
🏠 Rent Trends
| 1-Year | +20.7% ▲ |
| 3-Year CAGR | +7.6% ▲ |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.9%). 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 98926
Population: 31,883
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 98926
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.
🎓 Nearby Colleges & Universities
Frequently Asked Questions
How strict are landlord regulations in Ellensburg, WA?
For rental operators, Ellensburg, WA rates as tenant-protective. The regulatory environment standard buy-and-hold operations.
Is Ellensburg, WA a good market for FHA house hackers?
House hacking in Ellensburg, WA is a challenging. With home values around $466K and rents at $1,757/mo, owner-occupants can offset a meaningful share of PITI.
Is Ellensburg, WA a good place for real estate investing?
With a 3.0/5 investability score, Ellensburg, WA ranks as a solid market for rental property investors. Median prices of $466K and rents of $1,757/mo drive the underlying numbers.
What is the typical rental rate in Ellensburg, WA?
Rent in Ellensburg, WA is around $1,757/mo. The resulting rent-to-value relationship with $466K pricing is reasonable for most investor models.
What price range are homes in Ellensburg, WA?
Homes in Ellensburg, WA typically sell near $466K. Prices have moved at a 0.0% 5-year CAGR, which even-keeled long-term demand.
You know 98926 now. You don’t know where it ranks.
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How 98926 ranks in Ellensburg, WA
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