Real Estate Investing in Pullman, Washington (99163)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 99163 (Pullman, 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: 14.3% 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 25.6 — hard to cash-flow at these prices.
What’s happening in Pullman, WA (99163)?
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Market Analysis: 99163 Pullman
The 99163 ZIP in Pullman, WA is a local-operator market. Outside capital chasing a $435K entry has to pair deep knowledge with the discount.
Distressed does not mean uninvestable. It means the margin for error is thinner. ZIP 99163 rewards the prepared, punishes the overconfident, and leaves the math unchanged either way.
The gap between 99163 and stronger Pullman ZIPs is not closing quickly. Investors should weight long-horizon assumptions accordingly.
Demographically, 99163 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 99163 ZIP fits a narrow investor profile — hands-on, patient, and willing to accept that the cap rate on paper is not the cap rate in reality.
Here's what matters if you're considering buying a home in Pullman:
Property Strategy for 99163
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $311,563 | $1,200 | 2.8% | +4.8% | $155,781 |
| 3BR | $405,145 | $1,670 | 3.0% | +5.1% | $135,048 |
| 4BR | $475,934 | $2,010 | 3.0% | +5.4% | $118,983 |
| 5BR | $532,037 | — | — | +5.4% | $106,407 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 99163 Compare?
| Metric | 99163 | Pullman | Pullman, WA | Washington |
|---|---|---|---|---|
| Home Value | $435,193 | $435,193 | N/A | $591,536 |
| 5-Year CAGR | 3.1% | 3.1% | N/A | 5.9% |
| Avg Rent | $1,414 | $1,414 | N/A | - |
| Cap Rate | 2.5% | 2.5% | - | - |
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 99163 (Pullman, WA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $435,193 |
| Monthly Rent | $1,414 |
| Price-to-Rent | 25.6:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.9% |
| Cap Rate | 2.5% |
| 5-Year IRR | 5.6% |
📈 Home Appreciation
| 1-Year | +1.0% ▲ |
| 3-Year CAGR | +0.5% ▲ |
| 5-Year CAGR | +3.1% ▲ |
| 10-Year CAGR | +5.1% ▲ |
🏠 Rent Trends
| 1-Year | -1.3% ▼ |
| 3-Year CAGR | +5.4% ▲ |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.5%). 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 99163
Population: 33,692
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 99163
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
Investor Insight: With 1,352 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What is the typical home price in Pullman, WA?
In Pullman, WA the median home value sits at $435K. Against the broader WA market, that reads as reasonable for most investors.
How tight is the rental market in Pullman, WA?
Vacancy risk in Pullman, WA is elevated. That supports stable cash flow for typical rental holds.
Is rental property easy to operate in Pullman, WA?
The landlord environment in Pullman, WA is tenant-protective. Statewide rules shape most day-to-day operations for rental owners.
What investment strategy works best in Pullman, WA?
In Pullman, WA the impressive play is typically careful cash-flow rentals with hands-on management. The combination of $435K prices and $1,414/mo rents suits that approach.
How strong is tenant demand in Pullman, WA?
Pullman, WA draws a reliable base of working renters. Demand at the $1,414/mo rent level is reasonable for standard single-family and small multi rentals.
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How 99163 ranks in Pullman, WA
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