Real Estate Investing in College Place, Washington (99324)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 99324 (College Place, 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.
- Elevated vacancy: 8.9% vacancy may signal weakening demand.
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
- High price-to-rent: Price-to-rent ratio 25.4 — hard to cash-flow at these prices.
What’s happening in College Place, WA (99324)?
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Market Analysis: 99324 College Place
This part of Walla Walla County is not an easy win. The 99324 ZIP posts softness in key indicators, and the playbook that works in cleaner markets often stalls here.
Distressed does not mean uninvestable. It means the margin for error is thinner. ZIP 99324 rewards the prepared, punishes the overconfident, and leaves the math unchanged either way.
Within WA, ZIP 99324 trails on several market indicators that neighboring Walla Walla County submarkets outperform. The gap is real and durable enough to shape underwriting.
The 99324 ZIP's population of 10,171 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that reflects the need for careful underwriting.
Distressed ZIPs reward experience. healthy returns are possible in 99324, but they flow to investors who already understand how to operate in soft markets.
Here's what matters if you're considering buying a home in College Place:
Property Strategy for 99324
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $318,413 | $1,460 | 3.3% | +5.8% | $159,206 |
| 3BR | $406,055 | $1,990 | 3.5% | +6.0% | $135,352 |
| 4BR | $462,017 | $2,450 | 3.8% | +6.1% | $115,504 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 99324 Compare?
| Metric | 99324 | College Place | Walla Walla, WA | Washington |
|---|---|---|---|---|
| Home Value | $412,229 | $412,229 | N/A | $591,536 |
| 5-Year CAGR | 3.7% | 3.7% | N/A | 5.9% |
| Avg Rent | $1,353 | $1,353 | 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 99324 (College Place, WA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $412,229 |
| Monthly Rent | $1,353 |
| Price-to-Rent | 25.4:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.9% |
| Cap Rate | 2.6% |
| 5-Year IRR | 6.3% |
📈 Home Appreciation
| 1-Year | +1.7% ▲ |
| 3-Year CAGR | +1.3% ▲ |
| 5-Year CAGR | +3.7% ▲ |
| 10-Year CAGR | +7.2% ▲ |
🏠 Rent Trends
| 1-Year | +3.3% ▲ |
| 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 99324
Population: 10,171
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 99324
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 1,482 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Where do rents currently stand in College Place, WA?
Rent in College Place, WA is around $1,353/mo. The resulting rent-to-value relationship with $412K pricing is reasonable for most investor models.
How do experienced investors play College Place, WA?
For College Place, WA, careful cash-flow rentals with hands-on management is the standard investor playbook. The market structure makes it a reasonable default approach.
What is the average home sale price in College Place, WA?
College Place, WA home values average about $412K. That price point suits investors targeting rentals with $1,353/mo in monthly income.
How high is vacancy risk in College Place, WA?
Vacancy in College Place, WA is elevated, which keeps landlord downtime on reasonable timelines. Most properties lease within the standard window at $1,353/mo.
How landlord-friendly is College Place, WA?
WA ranks as a tenant-protective state for landlord-tenant law. College Place generally follows the statewide framework, so landlords face reasonable operating rules.
You know 99324 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 99324 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 99324 ranks in Walla Walla, WA
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