State: Washington
The Vancouver real estate market is currently a seller’s market, but don’t let that keep you from considering it a great investment opportunity. Vancouver, Washington, is just 9 miles north of Portland, Oregon, and currently more affordable and slightly less competitive. Most homes in Vancouver sell in just 36 days for a 100% sale-to-list price ratio. The reason? Vancouver offers real estate investors demand, appreciation, and a stable economy.
Savvy investors should act quickly. Word is getting out on the investment opportunity of a Vancouver home.
Vancouver, Washington, is located across the Columbia River from Portland, Oregon. The Pacific Coast is 90 miles west, and the Cascade Mountains are to Vancouver’s east. Vancouver embodies all it means to live in the Pacific Northwest – a strong sense of community near nature.
Real estate investors can find nearly every property type in Vancouver’s homes for sale. They include condos, townhouses, single-family homes, and multi-family homes. There are Vancouver homes for you whether you’re looking to invest in a short-term or long-term rental property.
The Vancouver area is home to many great neighborhoods and suburbs for real estate investors to consider. They include Brush Prairie, Camas, Hillsboro, Portland, and Ridgeland.
A few other neighborhoods worth noting are Battle Ground, a favorite suburb of families and young professionals; Mill Plain, a neighborhood in east Vancouver with gorgeous mountain views; Minnehaha, a Vancouver neighborhood conveniently located between I-5 and I-205; Salmon Creek, a neighborhood in north Vancouver known for its parks and trails; and Washougal, a small suburb located east of Camas.
Vancouver’s rental market creates demand for rental properties. In fact, 40% of households in Vancouver are occupied by renters, and the city only has a 1.2% vacancy rate.
According to Realtor, the median listing price in Vancouver is $288 per square foot with a median sale price of $495,000. Zillow’s Home Value Index reports a 21.8% change since last year. The median rent in Milwaukee is $2,200 per month. Experts project real estate investors can expect a cap rate of 7% in the Vancouver area.
Vancouver’s demand for rental properties, combined with its appreciation and cap rate, creates a lot of opportunity for real estate investors and property management companies to increase their cash flow.
Vancouver is the 4th largest city in Washington, behind Seattle, Spokane, and Tacoma. It’s more affordable and directly across the Columbia River from Portland, OR. As a result, it attracts many residents who want to work in Portland but also save money. That’s a big reason Vancouver’s population grew by 18% between the 2010 and 2020 censuses.
Vancouver’s primary industries are healthcare, retail trade, and manufacturing. The largest employers are PeaceHealth, Bonneville Power Administration, and Evergreen Public Schools. These employers provide well-paying jobs and fuel the city’s economy. In fact, the unemployment rate is just 3.1%.
The Vancouver real estate market has the makings of a great investment opportunity. It offers homebuyers and real estate investors appreciation, demand, and a stable economy.
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