Rankings/Bremerton-Silverdale-Port Orchard, WA

Bremerton-Silverdale-Port Orchard, WA

NeutralTier 1CBSA 14740Compare

Risk Rank: #54 of 274Month: 2026-06Score change (12m):↑ +21

58score

Composite risk percentile vs 274 metros (higher = higher risk)

Executive Summary

Bremerton's housing market shows average risk, ranking 54th of 274 metros. The market recently entered Expansion. Current conditions are balanced with stable liquidity. Broad-based growth with healthy fundamentals.

Bremerton experienced a market correction from early 2024 through mid-2024. The market has since normalized and entered Expansion.

Inventory is roughly flat (+2% YoY) with homes selling at a normal pace — a balanced market.

Rent growth is roughly keeping pace with price appreciation, suggesting valuations are not stretched.

Cycle Phase

RecoveryExpansionHypersupplyRecession

2 months in current phase·from Expansion

Normal growth conditions with balanced fundamentals

Key Dynamics

Risk is primarily driven by employment and permit growth, while migration provides the most support.

Top Drivers

Employmentp99

12-month employment change (risk inverted)

Permit Growthp77

YoY permit change

Permits per Capitap64

Permits per 1,000 residents

Market Signals

Inventory is roughly flat (+2% YoY) with homes selling at a normal pace — a balanced market.

Liquidity

Stable—

Active Listings YoY

+2.4%p51

Days on Market YoY

+2.7%p53

Months in status2

Data through Jun 2026

Valuation

Balanced—

Rent vs. Price Growth

+1.7%p84

Months in status2

Data through Jun 2026Rent growth vs price growth (rent support). Note: Affordability and Valuation measure different structural dimensions and can diverge.

Factor Details

Lower riskHigher risk

Low RiskBelow AvgNeutralElevatedHigh Risk

Price MomentumElevated

+1.8%p62

12-month HPI change — higher = overheating

Permit GrowthElevated

+19.0%p77

YoY permit change — higher = supply pressure

Permits per CapitaElevated

5.50p64

Permits per 1,000 residents — higher = overbuilding risk

AffordabilityBelow Avg

0.25p25

Mortgage payment / income — higher = more burdened

EmploymentHigh Risk

-2.1%p99

12-month employment change (risk inverted)

MigrationLow Risk

+$128Kp19

Net AGI migration (risk inverted)

National Context

Credit Conditions

Credit Regime

Stable—

Normal expansion. Credit is available, transactions are healthy — no constraints on current growth momentum.

Bank Lending Standards

N/ANormal

Rate Change (YoY)

-5 bpsNormal

Mortgage Risk Premium

+194 bpsElevated

Stable for 10 quartersData through 2026-Q3

Supply Pipeline

Supply Regime

Accumulating—

Supply pipeline is building up while credit remains available. New units are accumulating in the system — watch for delivery pressure in coming quarters.

Pipeline Ratio

0.90Elevated

Completion-Permit Divergence

-3.1 ppNormal

Accumulating for 5 quartersData through 2026-Q2

Local Signals

Metro Permit Activity

Permit Activity

Normal

YoY Permit Growth

+19.0%Within norm

Raw signal — not the composite percentile

Relative to 2016–2019 norms for this metro

Supply and demand are in equilibrium. No unusual activity on either side of the market.

Employment Concentration

Employment

Concentrated

Largest SectorGovernment 37.3%

QCEW 2024 annual averages

Internal Structure

County-level structural analysis.

County-level structural analysis is not available for this metro due to fewer than 3 qualifying counties.

Score History

Month	Phase	Score	Price	Permits	Afford	Employ	Migr
2026-05	Exp	56	46	80	25	97	19
2025-11	Rec	47	79	4	26	97	22
2025-09	Rec	42	70	4	26	78	22
2025-08	Hyp	38	79	4	26	44	22
2025-07	Rec	40	82	4	26	53	22
2025-05	Rec	36	69	4	25	43	22
2025-04	Exp	32	58	4	25	25	22
2025-02	Exp	22	8	4	21	22	22
2025-01	Rec	21	7	4	21	19	22
2024-11	Rec	26	18	4	24	34	22
2024-10	Hyp	25	17	4	24	27	22
2024-08	Hyp	31	14	4	22	68	22
2024-06	Ress	34	29	4	24	70	22
2024-04	Ress	32	25	4	24	60	22
2024-01	Exp	40	52	4	27	83	22
2023-11	Exp	39	43	4	39	73	22
2023-08	Rec	32	3	4	36	73	22
2023-06	Rec	30	2	4	37	61	22
2023-04	Hyp	32	2	4	37	69	22
2023-02	Hyp	32	3	4	38	69	22
2023-01	Ress	31	3	4	38	62	22
2022-11	Ress	33	6	4	44	67	22
2022-10	Hyp	32	6	4	45	62	22
2022-08	Ress	41	42	4	54	67	22
2022-06	Ress	46	66	4	57	74	22
2022-05	Hyp	44	67	4	57	62	22
2022-04	Exp	45	66	4	57	66	22
2022-02	Hyp	38	62	4	56	32	22
2022-01	Rec	39	65	4	56	31	22
2021-12	Exp	39	62	4	57	38	18
2021-10	Exp	44	69	4	57	63	18
2021-07	Exp	51	79	4	58	94	18
2021-04	Exp	52	86	4	56	95	18
2021-01	Exp	50	91	4	54	82	18
2020-12	Rec	50	87	4	60	77	18
2020-10	Rec	48	87	4	60	64	18
2020-07	Rec	46	96	4	59	45	18
2020-04	Exp	42	90	4	58	27	18
2020-02	Exp	39	90	4	55	15	18
2019-11	Exp	44	97	4	54	34	17
2019-10	Rec	43	97	4	54	32	17
2019-08	Rec	37	63	4	50	31	17
2019-05	Hyp	36	75	4	52	16	17
2019-03	Ress	40	81	4	51	29	17
2019-01	Ress	38	88	4	51	16	17

Data Vintages

Price (HPI)2026-Q1

Permits2026-06

Income2024

Employment2026-06

Migration2023