SeaTac, WA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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SeaTac, WA Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

SeaTac Housing Market Information

With 28,215 people, 9,831 houses or apartments, and a median cost of homes of $332,160, real estate costs in SeaTac are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive Washington communities.

Single-family detached homes are the single most common housing type in SeaTac, accounting for 49.31% of the city's housing units. Other types of housing that are prevalent in SeaTac include large apartment complexes or high rise apartments ( 35.79%), duplexes, homes converted to apartments or other small apartment buildings ( 6.43%), and a few mobile homes or trailers ( 5.36%).

People in SeaTac primarily live in small (one, two or no bedroom) single-family detached homes. SeaTac has a mixture of owner-occupied and renter-occupied housing.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. SeaTac's housing was primarily built during this period, from the '40s through the '60s. A full 52.50% of the city's housing hails from this era. Other housing ages represented in SeaTac include homes built between 1970-1999 ( 32.79%) and housing constructed between 2000 and later ( 11.47%). There's also some housing in SeaTac built before 1939 ( 3.24%).

SeaTac Home Appreciation Rates

Appreciation rates for homes in SeaTac have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 1.54%, which ranks in the top 50% nationwide. This equates to an annual average SeaTac house appreciation rate of 0.15%.

Appreciation rates are so strong in SeaTac that despite a nationwide downturn in the housing market, SeaTac real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, SeaTac appreciation rates continue to be some of the highest in America, at 12.53%, which is higher than appreciation rates in 98.06% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in SeaTac. SeaTac appreciation rates in the latest quarter were at 2.83%, which equates to an annual appreciation rate of 11.81%.

Importantly, this makes SeaTac one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Washington, our data show that SeaTac's latest annual appreciation rate is higher than 80% of the other cities and towns in Washington.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within SeaTac differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in SeaTac - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best SeaTac real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$332,160

SeaTac, WA HOME PRICES

Value Range
> $1,422,000 0.3
$1,066,001 - $1,422,000 0.0
$711,001 - $1,066,000 4.0
$569,001 - $711,000 6.5
$426,001 - $569,000 14.6
$284,001 - $426,000 41.0
$142,001 - $284,000 21.1
$71,001 - $142,000 3.0
$0 - $71,000 9.5

High for WA
Very High for Nation

Value Relative to Nation Value Relative to State
13.582561818821 31.2056737588652

Number Of Homes And Apartments:
9,831

SeaTac Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
WA*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
77.72% 3.39% 7 9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,500 / per month

Homeownership Rate

Homeownership
Owners 47.27
Renters 52.73
Vacant 4.28

Housing Market Details

 

Age of Homes

AGE OF SeaTac HOMES
2000 or Newer 11.5
1970 - 1999 32.8
1940 - 1969 52.5
1939 or Older 3.2

Types of Homes

TYPE OF SeaTac HOMES
Single-Family 49.3
Townhomes 2.5
Small Apt. Buildings 6.4
Apt. Complexes 35.8
Mobile Homes 5.4
Other 0.6

Home Size

SIZE OF SeaTac HOMES
No Bedroom 3.35
1 Bedroom 20.30
2 Bedrooms 30.13
3 Bedrooms 29.48
4 Bedrooms 11.06
5 or more bedrooms 5.68