Home prices in Washington soared more than 800% over the past four decades, according to one analysis of Freddie Mac data.
Why it matters: That far exceeds the national average of nearly 500%.
The big picture: Housing affordability is repeatedly cited as one of the top concerns for Washington residents, reflecting widespread struggles with rising home prices and the growing gap between housing costs and household incomes across the state.
Driving the news: Washington had the largest home price gain in the nation, at 828%, from 1984 to 2024, according to the analysis of Freddie Mac House Price Index data by journalist Lance Lambert of ResiClub .
- Oregon (699%), Rhode Island (668%) and Massachusetts (664%) followed, per Lambert.
- Overall inflation rose 203% in the last 40 years, while median U.S. household incomes rose 233%, Lambert wrote.
Yes, but: He points out that overall housing affordability is only slightly worse today than it was in 1984 when you account for mortgage rates, median household incomes and national home prices.