Investment metrics, interactive calculators, and data-driven analysis for Ellensburg rental properties.
Market data powered by Zillow Home Value Index (ZHVI) and Zillow Observed Rent Index (ZORI) · Updated Feb 2026
Pre-filled with Ellensburg medians. Adjust to match a specific property.
Factor in financing to see your actual return on invested capital in Ellensburg.
Ellensburg, WA has a population of 50,000 and has been growing at 1.1% annually — above the national average, suggesting steady demand pressure on housing. The median home price of $480,000 paired with median rents of $1,520/mo produces an estimated cap rate of 1.90%.
Property taxes at 0.93% fall within the national average range and shouldn't present unusual challenges. The vacancy rate of 4.6% is impressively low, indicating tight rental supply and strong tenant demand — favorable for landlords.
At a price-to-income ratio of 7.6x, homes cost about 7.6 times the local median income of $62,750. This elevated ratio means homeownership is stretched, supporting rental demand but limiting buyer pools. Home values have appreciated at roughly 2.8% annually. Steady appreciation means total returns will be primarily cash flow-driven — the more sustainable model for long-term wealth building.
Bottom line: At current median prices, Ellensburg is challenging for pure cash flow investing. Consider BRRRR strategies with below-market purchases, or look at neighboring metros with stronger price-to-rent ratios.