www.zillow.com/research/

APRIL2019 Bellingham Metro

National Rents

Current: $1,477Monthly Change: 0.2%Annual Change: 2.6%

Bellingham Metro Rents

Current: $1,751Monthly Change: 0.2%Annual Change: 11.9%

Breakeven Horizon–

Major Cities - Rents

BellinghamCurrent: $1,823Monthly Change: 0.3%Annual Change: 11.2%Breakeven Horizon: 2.3 years

FerndaleCurrent: $1,733Monthly Change: 0.4%Annual Change: 10.9%Breakeven Horizon: 2.2 years

LyndenCurrent: $1,751Monthly Change: 0.2%Annual Change: 10.2%Breakeven Horizon: 2.2 years

BlaineCurrent: $1,587Monthly Change: 0.1%Annual Change: 6.4%Breakeven Horizon: 2.1 years

Sudden ValleyCurrent: $1,763Monthly Change: 0.5%Annual Change: 12.8%Breakeven Horizon: –

Esri, HERE, DeLorme, MapmyIndia, © OpenStreetMap contributors, and the GIS user community

City ZRI Year-over-Year2.0% 2.1% - 4.9% 5.0% - 6.4% 6.5% - 11.2% 11.3% - 12.8%

Metro Cities: Top/Bottom by Annual Rent AppreciationTop:Sudden Valley 12.8%

Custer 12.4%

Bellingham 11.2%

Ferndale 10.9%

Lynden 10.2%

Bottom:Maple Falls 2%

Sumas 3.8%

Deming 4.2%

Everson 4.4%

Point Roberts 4.9%

Metro Neighborhoods: Top/Bottom by Annual Rent AppreciationTop:York 15%

Guide Meridian 9.5%

Lettered Streets 9.5%

Edgemoor 9.5%

Mt. Baker 8.7%

Bottom:Samish Hill 1.9%

South Hill 4%

Cornwall Park 6%

Roosevelt 6.9%

Sehome 7.1%

How do we measure rents? To track rents, we use the Zillow Rent Index (ZRI). The

ZRI is the midpoint of estimated rents in a given region. Half the estimated rental prices

are above this number and half are below.

What is the Breakeven Horizon? The Breakeven Horizon in the number of years you

must live in a home before owning the same home becomes more financially advantageous

than renting the home. For example, if ’City X’ had a Breakeven Horizon of 5.5 years,

it is financially better for you to rent in ’City X’ unless you plan on living there for more

than 5.5 years.

APRIL2019

*Top cities and neighborhoods by size within the metro are listed. Additional counties, cities, neighborhoods and zip codes may be available online at

www.zillow.com/research/data or by emailing press@zillow.com

Zillow Research:Zillow R© is the leading real estate and rental marketplace dedicated to empowering consumers with data, inspiration and knowledge around the placethey call home, and connecting them with the best local professionals who can help. In addition, Zillow operates an industry-leading economics andanalytics bureau led by Zillow’s Chief Economist Dr. Svenja Gudell. Dr. Gudell and her team of economists and data analysts produce extensive housingdata and research covering more than 450 markets at Zillow Real Estate Research. Zillow also sponsors the quarterly Zillow Home Price ExpectationsSurvey, which asks more than 100 leading economists, real estate experts and investment and market strategists to predict the path of the Zillow HomeValue Index over the next five years. Zillow also sponsors the bi-annual Zillow Housing Confidence Index (ZHCI) which measures consumer confidence inlocal housing markets, both currently and over time. Launched in 2006, Zillow is owned and operated by Zillow Group (NASDAQ: Z), andheadquartered in Seattle.

www.zillow.com/research/

Largest Cities Covered by Zillow

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Bellingham 2.3 1,823 11.2 2,000 1.1Blaine 2.1 1,587 6.4 1.1Custer 1,787 12.4 0.9Deming 1.9 1,502 4.2 1.1Everson 2 1,533 4.4 1Ferndale 2.2 1,733 10.9 1Lummi Island 1,775 9.9 1.2Lynden 2.2 1,751 10.2 0.9Maple Falls 1.5 1,351 2 1Point Roberts 1.7 1,485 4.9 1.4Sudden Valley 1,763 12.8 1Sumas 2 1,518 3.8 0.9

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North Garden 1,611 9 1.1Palmyra 2 1,430 4.6 0.8Roseland 2.1 1,435 5.4 1.1Ruckersville 2.1 1,464 6.1 1Schuyler 1.2 1,231 -2.9 1Scottsville 1,277 -0.9 1Shipman 1.3 1,188 2.3 0.9Stanardsville 1.8 1,348 3.9 1Troy 2.5 1,540 6.2 0.8Wingina 1,206 1.3 0.9

Largest Neighborhoods Covered by Zillow

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Alabama Hill 2.4 1,967 7.6 1Birchwood 2.2 1,607 7.4 1.2Columbia 2.5 1,773 7.7 1.3Cornwall Park 2.5 1,837 6 1.2Edgemoor 2.7 2,821 9.5 1.2Guide Meridian 2.2 1,516 9.5 1.2Lettered Streets 2.4 1,652 9.5 1.3Mt. Baker 2.3 1,860 8.7 1.1Puget 2.2 1,907 7.8 1.1Roosevelt 2.2 1,598 6.9 1.2

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Samish Hill 2.4 2,135 1.9 1Sehome 2.2 1,606 7.1 1.3South 2.6South Hill 2.9 2,058 4 1.2Sunnyland 2.3 1,632 8.7 1.4Whatcom Falls 2.3 2,009 8.4 1.1York 2.3 1,777 15 1.3