Real Estate Investing in Kennewick, Washington (99338)
Should you buy in 99338 (Kennewick, WA)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
- High price-to-rent: Price-to-rent ratio 27.1 — hard to cash-flow at these prices.
What’s happening in Kennewick, WA (99338)?
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Market Analysis: 99338 Kennewick
This part of Benton County is not an easy win. The 99338 ZIP records softness in key indicators, and the playbook that works in cleaner markets often stalls here.
Distressed markets are won on execution, not on spreadsheets. ZIP 99338 clocks in at the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
Nearby ZIPs in Kennewick have seen price recovery that 99338 has not matched. Benton County data supports the view that the spread is structural rather than temporary.
Who lives in 99338 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
New investors are better served looking at Kennewick's stable or hybrid ZIPs before stepping into 99338. The learning curve here is expensive when the lesson is wrong.
Here's what matters if you're considering buying a home in Kennewick:
Property Strategy for 99338
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 3BR | $500,927 | $2,340 | 3.4% | +5.4% | $166,976 |
| 4BR | $616,117 | $2,700 | 3.2% | +6.1% | $154,029 |
| 5BR | $769,677 | — | — | +6.6% | $153,935 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 99338 Compare?
| Metric | 99338 | Kennewick | Kennewick-Richland, WA | Washington |
|---|---|---|---|---|
| Home Value | $559,267 | $455,750 | N/A | $591,536 |
| 5-Year CAGR | 4.2% | 4.5% | N/A | 5.9% |
| Avg Rent | $1,720 | $1,753 | N/A | - |
| Cap Rate | 2.4% | 3.1% | - | - |
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 99338 (Kennewick, WA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $559,267 |
| Monthly Rent | $1,720 |
| Price-to-Rent | 27.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.7% |
| Cap Rate | 2.4% |
| 5-Year IRR | 6.6% |
📈 Home Appreciation
| 1-Year | -0.8% ▼ |
| 3-Year CAGR | +0.9% ▲ |
| 5-Year CAGR | +4.2% ▲ |
| 10-Year CAGR | +6.7% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.5%) exceeds the estimated cap rate (2.4%). 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 99338
Population: 19,235
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 99338
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 3,539 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Can I house hack in Kennewick, WA?
Kennewick, WA is a a challenging market for house hackers. FHA or conventional owner-occupant buyers find the $559K price point reasonable to enter.
Is it easy to find good tenants in Kennewick, WA?
Tenant demand in Kennewick, WA is solid. The local workforce $1,720/mo rents across most rental classes.
What kind of market is Kennewick, WA for investors?
Our data puts Kennewick, WA at 3.0/5 for investability. Home prices of $559K and rents around $1,720/mo create a solid backdrop for investor activity.
Is Kennewick, WA landlord-friendly?
WA ranks as a tenant-protective state for landlord-tenant law. Kennewick generally follows the statewide framework, so landlords face reasonable operating rules.
What is the typical home price in Kennewick, WA?
In Kennewick, WA the median home value sits at $559K. Against the broader WA market, that reads as reasonable for most investors.
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