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SeaTac, WA Real Estate Market

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 Q2 2022. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2020 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

SeaTac, WA Housing Market Trends

With 31,454 people, 10,372 houses or apartments, and a median cost of homes of $558,935, 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 44.76% of the city's housing units. Other types of housing that are prevalent in SeaTac include large apartment complexes or high rise apartments ( 38.18%), duplexes, homes converted to apartments or other small apartment buildings ( 7.89%), and a few mobile homes or trailers ( 6.94%).

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 49.34% of the city's housing hails from this era. Other housing ages represented in SeaTac include homes built between 1970-1999 ( 33.76%) and housing constructed between 2000 and later ( 13.02%). There's also some housing in SeaTac built before 1939 ( 3.89%).

SeaTac Home Appreciation Rates

In the last 10 years, SeaTac has experienced some of the highest home appreciation rates of any community in the nation. SeaTac real estate appreciated 188.43% over the last ten years, which is an average annual home appreciation rate of 11.17%, putting SeaTac in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, SeaTac definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

NeighborhoodScout's data show that during the latest twelve months, SeaTac's appreciation rate, at 14.81%, has been at or slightly above the national average. In the latest quarter, SeaTac's appreciation rate has been 4.38%, which annualizes to a rate of 18.71%.

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 lower than 70% 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:
$558,935

SeaTac, WA HOME PRICES

> $1,514,000
$1,136,001 - $1,514,000
$758,001 - $1,136,000
$606,001 - $758,000
$454,001 - $606,000
$303,001 - $454,000
$151,001 - $303,000
$76,001 - $151,000
$0 - $76,000
0.5%
0.5%
1.4%
1.4%
14.4%
14.4%
17.7%
17.7%
29.0%
29.0%
15.8%
15.8%
10.2%
10.2%
5.4%
5.4%
5.6%
5.6%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

High for WA

Value Relative To Nation

Number Of Homes And Apartments:
10,372

SeaTac Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
WA*
Compared To
America*
Latest Quarter:
2022 Q1 - 2022 Q2
Last 12 Months:
2021 Q2 - 2022 Q2
Last 2 Years:
2020 Q2 - 2022 Q2
Last 5 Years:
2017 Q2 - 2022 Q2
Last 10 Years:
2012 Q2 - 2022 Q2
Since 2000:
2000 Q1 - 2022 Q2
222.89% 5.35%
8
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,283 / per month

Homeownership Rate

Owners
Renters
Vacant
47.2%
47.2%
52.8%
52.8%
5.8%
5.8%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
13.0%
13.0%
33.8%
33.8%
49.3%
49.3%
3.9%
3.9%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
44.8%
44.8%
2.1%
2.1%
7.9%
7.9%
38.2%
38.2%
6.9%
6.9%
0.1%
0.1%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
3.8%
3.8%
23.0%
23.0%
32.5%
32.5%
25.2%
25.2%
10.6%
10.6%
4.9%
4.9%
0.0% 100.0%
% OF HOMES