Connell is home to the best residential real estate investment market in Washington.
The 99326 zip code in Connell presents the greatest opportunity for the best real estate investments among the 2,860 individual real estate markets in Washington we evaluated. We looked at property values, population trends, and six other metrics for each market. We used that data to calculate each market's InvestScore.
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Data sources
Most of the data in this article comes from the Zillow Home Value Index and the U.S. Census American Community Survey.
We update our data when the original sources update their data, usually monthly. Sometimes we'll update data more frequently.
Clever also performs regular quality checks to identify outdated data, broken data connections, and other data issues that may arise.
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5 best places to invest in Washington
| Rank | City | InvestScore | Affordability | Property value appreciation |
|---|---|---|---|---|
| 1 | Connell | 100 | 3.9 | 36% |
| 2 | Moses Lake | 91.6 | 4.8 | 36% |
| 3 | Colville | 91.5 | 5.1 | 39% |
| 4 | Omak | 91.4 | 3.6 | 30% |
| 5 | Forks | 91.3 | 5.2 | 37% |
🚨 This article is for informational purposes only. It isn't intended to convey financial or legal advice. We recommend you talk to a real estate agent or real estate attorney when buying a home in Washington.
1. Connell
We've identified the 99326 zip code in Connell as Washington's best real estate investment market. Here's why.
🔎 Key data about Connell (99326)
| Data point | Value | Rank in state (of 2,860 markets) |
|---|---|---|
| InvestScore | 100 | Highest |
| Typical property value | $319,687[1] | 17th lowest |
| Five-year appreciation | 36%[2] | 48th highest |
| Household income | $82,500[3] | 200th highest |
| Affordability ratio | 3.9 | 3rd most affordable |
| Five-year population growth | 7.8%[4] | 7th highest |
| Unemployment rate | 5.8%[5] | 9th lowest |
| Property taxes | $2,050[6] | 11th lowest |
| Educational attainment | 11%[7] | 220th highest |
Connell (zip code 99326) is the best residential real estate investment market in Washington. It has the 48th highest property value appreciation among markets we evaluated, with a 36% appreciation of the typical property over the last five years.
Connell is the 3rd most affordable market among the 2,860 Washington markets we evaluated, with an affordability ratio of 3.9.
2. Moses Lake
The 98837 zip code in Moses Lake is the runner-up spot for the best real estate investments in Washington.
🔎 Key data about Moses Lake (98837)
| Data point | Value | Rank in state (of 2,860 markets) |
|---|---|---|
| InvestScore | 91.6 | 2nd highest |
| Typical property value | $359,497[1] | 26th lowest |
| Five-year appreciation | 36%[2] | 50th highest |
| Household income | $74,586[3] | 223rd highest |
| Affordability ratio | 4.8 | 44th most affordable |
| Five-year population growth | 4.3%[4] | 34th highest |
| Unemployment rate | 4.7%[5] | 3rd lowest |
| Property taxes | $2,667[6] | 34th lowest |
| Educational attainment | 21%[7] | 192nd highest |
The 98837 zip code in Moses Lake features a typical property value of $359,497, the 26th lowest in the state.
Property values have appreciated 36% over the past five years, the 50th highest increase among evaluated markets in the state. Moses Lake homes have an affordability ratio of 4.8, the 44th most affordable in the state.
3. Colville
The 99114 zip code in Colville comes in at No. 3 in our ranking of the best residential real estate investment markets in Washington.
🔎 Key data about Colville (99114)
| Data point | Value | Rank in state (of 2,860 markets) |
|---|---|---|
| InvestScore | 91.5 | 3rd highest |
| Typical property value | $322,606[1] | 19th lowest |
| Five-year appreciation | 39%[2] | 30th highest |
| Household income | $62,711[3] | 263rd highest |
| Affordability ratio | 5.1 | 71st most affordable |
| Five-year population growth | 3.4%[4] | 44th highest |
| Unemployment rate | 5.2%[5] | 6th lowest |
| Property taxes | $1,737[6] | 2nd lowest |
| Educational attainment | 22%[7] | 182nd highest |
With a typical property value of $322,606, Colville's 99114 zip code features the 19th lowest property values in the state.
Colville homes have an affordability ratio of 5.1, the 71st most affordable among the markets we evaluated.
4. Omak
The 98841 zip code in Omak ranks No. 4 among Washington's residential real estate investment markets.
🔎 Key data about Omak (98841)
| Data point | Value | Rank in state (of 2,860 markets) |
|---|---|---|
| InvestScore | 91.4 | 4th highest |
| Typical property value | $256,392[1] | 3rd lowest |
| Five-year appreciation | 30%[2] | 109th highest |
| Household income | $71,809[3] | 109th highest |
| Affordability ratio | 3.6 | most affordable |
| Five-year population growth | 3.9%[4] | 42nd highest |
| Unemployment rate | 4.7%[5] | 3rd lowest |
| Property taxes | $1,777[6] | 5th lowest |
| Educational attainment | 19%[7] | 204th highest |
Property values in Omak's 98841 zip code have seen the 109th highest increase among evaluated markets in the state, with an appreciation of 30% over the past five years.
Omak's affordability ratio of 3.6 makes it the most affordable among the 2,860 markets we evaluated.
5. Forks
The 98331 zip code in Forks rounds out our top five residential real estate investment markets in Washington.
🔎 Key data about Forks (98331)
| Data point | Value | Rank in state (of 2,860 markets) |
|---|---|---|
| InvestScore | 91.3 | 5th highest |
| Typical property value | $322,551[1] | 18th lowest |
| Five-year appreciation | 37%[2] | 43rd highest |
| Household income | $62,135[3] | 43rd highest |
| Affordability ratio | 5.2 | 73rd most affordable |
| Five-year population growth | 5.4%[4] | 22nd highest |
| Unemployment rate | 4.7%[5] | 3rd lowest |
| Property taxes | $1,754[6] | 3rd lowest |
| Educational attainment | 24%[7] | 175th highest |
Property values in Forks's 98331 zip code rose 37% over the last five years, ranking the city 43rd highest among evaluated markets in Washington.
Forks homes have an affordability ratio of 5.2, the 73rd most affordable among the markets we evaluated.
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Frequently asked questions
See our article Steps to Buying Your First Rental Property to learn the basics of real estate investing for beginners.
You'll learn the importance of setting goals, picking the right market, and more.
Cash investors often use what's called the 70% rule, which suggests they should pay around 70% of a house's after-repair value minus the cost of renovations.
By buying for about 70% of the after-repair value, they're positioning themselves to pay for repairs and other costs, and to lock in a profit.
The 70% rule isn’t a hard-and-fast formula, but a quick guideline investors use to evaluate potential deals.
Investing in residential real estate can be one of the best passive real estate investments in Washington.
Residential real estate offers accessible passive income and the potential to compound your original investment.
Renting out residential units is the top way to invest in real estate. House hacking also offers a great opportunity for passive real estate investment income.
How we rank residential real estate markets in Washington
To determine the best real estate investments in Washington we evaluated 2,860 markets on eight metrics, and then assigned an InvestScore based on a proprietary weighting framework. Each market corresponds to a specific zip code in Washington.
What is InvestScore?
InvestScore is a score on a scale of 0 (worst in state) to 100 (best in state) that estimates the residential real estate investment potential of a given market. It takes into account a suite of key data points for each city.
- Typical property value: This measures the typical home value in this zip code, according to the Zillow Home Value Index. It reflects the typical value for homes in the 35th to 65th percentile range, including all homes, with the numbers smoothed and seasonally adjusted. We prefer lower property values, which indicate both more room for growth and a greater ease of purchase.
- Property value appreciation: This measures how much property values have increased in the area over the past five years, according to the Zillow Home Value Index. We prefer a higher appreciation, as it indicates better returns on housing. However, past performance isn't indicative of future results.
- Median household income: This is the inflation-adjusted median household income in the zip code, according to U.S. Census American Community Survey data. We prefer a higher household income, as it indicates local residents have more income to spend on housing.
- Affordability ratio: This is the ratio of the typical home value to the median household income in the area. A lower ratio is better because it means more households can afford a home, which indicates higher demand.
- Population growth: This is how much the area's population has grown over the past five years, according to U.S. Census estimates. Higher is better, as it indicates residents are moving into the area at a rapid clip.
- Unemployment rate: This is the unemployment rate in the area, according to U.S. Census data. We prefer a lower rate, as it indicates the availability of steady employment in the area, meaning residents will find it much easier to afford homes.
- Property tax: This is the median real estate property tax paid in the area, according to U.S. Census estimates.
- Educational attainment: This is the percentage of residents in the area that have obtained a bachelor's degree or better, according to U.S. Census estimates. We prefer a higher rate because it indicates local residents who have higher earning potential and thus should be able to afford homes.
