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Grays Harbor ranks highest in home value growth statewide

Grays Harbor is showing the highest home value increase in Washington, according to a new survey.

The study from financial technology company SmartAsset looked across the state to see where home values have risen the most. 

According to the company, the study aims to find the places in the United States where people are getting the most value for their property tax dollars. 

These home value rankings are one factor in a three part study on the places receiving the most value for their property taxes.

The analysis by SmartAsset measured the change in home values each county had throughout a five-year period. 

Grays Harbor topped all other counties for overall home value growth in the study.

Home Value Growth
Rank County, State Property Tax Rate School Rating Home Value Growth Home Growth Rate Index
1 Grays Harbor, WA 1.01% 10 84.43% 73.34
2 Spokane, WA 1.10% 8 76.09% 67.09
3 Cowlitz, WA 0.98% 3 72.02% 64.03
4 Pierce, WA 1.15% 7 71.70% 63.79
5 Lewis, WA 0.86% 5 71.66% 63.76
6 Mason, WA 0.94% 1 67.04% 60.29
7 Thurston, WA 1.07% 9 66.30% 59.74
8 Franklin, WA 1.07% 1 64.50% 58.39
9 Skagit, WA 0.98% 5 64.48% 58.37
10 Kitsap, WA 0.94% 9 64.31% 58.25
0.98% 5.44 59.50%

 

Grays Harbor fell behind Lincoln County for the best overall value using this methodology, but still sat at 2nd overall statewide.

Best Overall Value
Rank County, State Property Tax Rate School Rating Home Value Growth Overall Index
1 Lincoln, WA 0.83% 8 35.94% 61.03
2 Grays Harbor, WA 1.01% 10 84.43% 60.41
3 Okanogan, WA 0.88% 10 37.67% 59.17
4 Lewis, WA 0.86% 5 71.66% 55.33
5 Pend Oreille, WA 0.72% 5 39.04% 55.3
6 Whitman, WA 1.01% 10 41.55% 53.56
7 Klickitat, WA 0.69% 4 40.24% 51.36
8 Ferry, WA 0.72% 1 38.33% 51.03
9 Yakima, WA 1.02% 3 63.86% 50.84
10 Benton, WA 0.97% 6 57.20% 50.36
0.98% 5.44 59.50%

In addition, Grays Harbor ranked 2nd in overall School Value based on these home values

School Value
Rank County, State Property Tax Rate School Rating Home Value Growth School Value Index
1 Okanogan, WA 0.88% 10 37.67% 17.34
2 Grays Harbor, WA 1.01% 10 84.43% 16.37
3 Lincoln, WA 0.83% 8 35.94% 16.17
4 Whitman, WA 1.01% 10 41.55% 14.6
5 Spokane, WA 1.10% 8 76.09% 9.42
6 Pend Oreille, WA 0.72% 5 39.04% 8.73
7 Kitsap, WA 0.94% 9 64.31% 8.73
8 Thurston, WA 1.07% 9 66.30% 8.71
9 Benton, WA 0.97% 6 57.20% 8.42
10 Lewis, WA 0.86% 5 71.66% 8.29
0.98% 5.44 59.50%

To do the study, SmartAsset looked at property taxes paid, school rankings and the change in property values over the period.

Looking at median home value and average property tax rate, the study was used to calculate a per capita property tax collected for each county.

As a way to measure the quality of schools, SmartAsset analyzed the math and reading/language arts proficiencies for every school district in the country. They created an average score for each district by looking at the scores for every school in that district, weighting it to account for the number of students in each school. 

Within each state, they also assigned every county a score between 1 and 10 (with 10 being the best) based on the average scores of the districts in each county.

Then, the change in property value in each county over a five-year period was calculated. Places where property values rose by the greatest amount indicated where consumers were motivated to buy homes, and a positive return on investment for homeowners in the community.

For additional information on the rankings, including the methodology and interactive map, check here: https://smartasset.com/taxes/washington-property-tax-calculator#washington/homeValueGrowth-1

 

 


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