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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 733,919, 337,361 total housing units (homes and apartments), and a median house value of $926,306, Seattle house prices are not only among the most expensive in Washington, Seattle real estate also is some of the most expensive in all of America.
Large apartment complexes or high rise apartments are the single most common housing type in Seattle, accounting for 48.82% of the city's housing units. Other types of housing that are prevalent in Seattle include single-family detached homes ( 39.77%), row houses and other attached homes ( 5.60%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.59%). Cities that are predominantly high-density buildings are relatively uncommon in the US. Because of the density, these types of cities are often walkable and compact, and often have a lively downtown.
People in Seattle primarily live in small (one, two or no bedroom) units, chiefly found in large apartment complexes or high rise apartments. Seattle has a mixture of owner-occupied and renter-occupied housing.
Seattle homes and real estate are some of the newest in America. 26.78% of Seattle's housing was built since 2000, making the city have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Seattle real estate market has to offer. Quite a bit of the housing here was also built between 1940-1969 ( 25.36%), and before 1939 ( 24.19%). There's also some housing in Seattle built between 1970-1999 ( 23.66%).
Appreciation rates for homes in Seattle have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 107.10%, which ranks in the top 30% nationwide. This equates to an annual average Seattle house appreciation rate of 7.55%.
Over the last year, Seattle appreciation rates have trailed the rest of the nation. In the last twelve months, Seattle's appreciation rate has been -6.92%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Seattle were at 2.95%, which equates to an annual appreciation rate of 12.33%.
Relative to Washington, our data show that Seattle'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 Seattle differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Seattle - 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 Seattle real estate investment or home purchase decisions.
$3,329 / per month