Learn more about Kenmore, its property values, residents, and opportunities before leasing your property or making an investment with this guide to local property management.
The city of Kenmore stretches along the northern shore of Lake Washington, covering 6.26 square miles of primarily residential land. Kenmore’s bedroom community residents primarily commute to work in nearby cities including Kirkland, Redmond, and Bellevue, with an average commute of 27.9 minutes. Despite that, the city has earned multiple accolades, including being ranked as the “Best Metropolitan Neighborhood to Live” by Seattle Magazine in 2009, and being named “One of the Best 10 Towns for Families” by Family Circle Magazine.
Kenmore supports a variety of urban landscape and beautiful untouched woodlands, parks, trails, a freshwater harbor, an industrial port, retreats, and some industry in the form of the Kenmore Air Harbor and production. The result is a widely varied town that has something to offer for nearly everyone including boating activities through the multiple marinas, parks including the St. Edwin Park and Burke Gilman Trail, and a mix of residential developments.
Neighborhoods in Kenmore
Kenmore is home to a diverse array of neighborhoods stretching from the urbanized Central in downtown Kenmore to the sleepy residential areas of Northern Kenmore, all of which is dotted with trees, parks, and nature.
- Lower Moorland
- Upper Moorlands
- Northern Kenmore
- Cascade Mountains
- Northlake Terrace
- Linwood Heights,
- Kenlake Vista
- Uplake Terrace
- Kenmore Terrace
- Northshore Summit
Kenmore is home to 20,460 people as of the 2010 census, with 7,984 households. Of these homes, just under 36% are families with children, while the remainder are divided between high income singles (about 13%) and married couples with no children. The median family income in the area is between $79,847 and $100,999, and just 22% of the population is under 18. Essentially, the majority of residents are middle to high income couples or families who prefer to live in the suburbs to take advantage of quieter living, and therefore commute to work during the day.
Schools & Education
Kenmore is part of the Northshore School District, and is home to 18 schools, 13 of which are private. The Inglemoor High school, Arrowhead Elementary School, and Moorlands Elementary School are highly recognized in the area, and some of the best in King County. Kenmore is also home to the Bastyr University, but offers easy access to both of the University of Washington’s campuses, the Shoreline Community College, and the SCC Center for Business and Continuing Education.
Purchasing a Rental Property in Kenmore Washington
71% of locals prefer to own their own property, but the remaining 29% rent, and that leaves an opportunity for investors to either rent their existing home, or to purchase a rental property in the area. Kenmore’s property prices are high, as is the cost of living, but this also translates into a high rental rate, making it easier to earn back your investment. Home prices are split almost evenly with values ranging between $100 and $200 per square foot or $200-$300 per square foot.
Rent rates vary depending on the location, the condition of the home, and the amenities, but the following include average rates.
4 Bedroom / 2 Bath – $2,500-$3,200
2 Bedroom / 1 Bath – $1,200-$1,850
1 Bedroom/ 1 Bath – $850 – $1,500
It is important that you research the rent rates in the surrounding neighborhood before calculating rental rates, as rates are often defined by the neighborhood.
Property Management in Kenmore
Managing an investment property, or a home you are renting out, requires a significant amount of time investment, knowledge of local real estate law, and maintenance. As a property manager, it is your responsibility to handle repairs, complaints, heating issues, to collect rent, to screen tenants, to handle complaints by the neighbors, to ensure that the property is not suffering damage, and much more. For this reason, many local property managers choose to work with a Kenmore property management company who can save money on maintenance and repair fees, cut costs and time involved with marketing and screening tenants, and ensure compliance with Washington State and Kenmore landlord/tenant law.
Managing property is a full time job, and it is something that the majority of investors eventually need help with. SJA Property Management is experienced with local Kenmore property management, local laws, neighborhoods, and businesses, and we can apply that knowledge to efficiently manage your property, cut management and maintenance costs wherever possible, and help to ensure that your rental units stay rented. Our experience can help you to maximize your earnings from your property.