Seattle, WA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Seattle Neighborhoods Since 2000




Seattle, 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

Seattle Housing Market Information

With a population of 684,451, 296,633 total housing units (homes and apartments), and a median house value of $638,897, 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 44.03% of the city's housing units. Other types of housing that are prevalent in Seattle include single-family detached homes ( 43.58%), duplexes, homes converted to apartments or other small apartment buildings ( 7.21%), and a few row houses and other attached homes ( 4.71%). 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.

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. Seattle's housing was primarily built during this period, from the '40s through the '60s. A full 29.78% of the city's housing hails from this era. Other housing ages represented in Seattle include homes built before 1939 ( 27.83%) and housing constructed between 1970-1999 ( 24.69%). There's also some housing in Seattle built between 2000 and later ( 17.70%).

Seattle Home Appreciation Rates

In the last 10 years, Seattle has experienced some of the highest home appreciation rates of any community in the nation. Seattle real estate appreciated 30.01% over the last ten years, which is an average annual home appreciation rate of 2.66%, putting Seattle in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Seattle definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Appreciation rates are so strong in Seattle that despite a nationwide downturn in the housing market, Seattle real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Seattle appreciation rates continue to be some of the highest in America, at 13.25%, which is higher than appreciation rates in 98.63% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Seattle. Seattle appreciation rates in the latest quarter were at 2.83%, which equates to an annual appreciation rate of 11.81%.

Importantly, NeighborhoodScout’s exclusive research found that Seattle's housing market shows one of the <a href="/blog/highest-appreciating-cities">top real estate appreciation rates in the U.S.A.</a> in the latest quarter, which may signal the city’s near-future real estate investment strength.

Relative to Washington, our data show that Seattle'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 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.

Average Home Values

 

Median Home Value:
$638,897

Seattle, WA HOME PRICES

Value Range
> $1,415,000 6.1
$1,061,001 - $1,415,000 8.3
$708,001 - $1,061,000 24.0
$566,001 - $708,000 16.7
$425,001 - $566,000 20.8
$283,001 - $425,000 15.3
$142,001 - $283,000 6.5
$71,001 - $142,000 0.8
$0 - $71,000 1.6

Very High for WA
Very High for Nation

Value Relative to Nation Value Relative to State
3.34583382163366 4.60992907801418

Number Of Homes And Apartments:
296,633

Seattle 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
125.67% 4.83% 10 10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,977 / per month

Homeownership Rate

Homeownership
Owners 44.50
Renters 55.50
Vacant 6.11

Housing Market Details

 

Age of Homes

AGE OF Seattle HOMES
2000 or Newer 17.7
1970 - 1999 24.7
1940 - 1969 29.8
1939 or Older 27.8

Types of Homes

TYPE OF Seattle HOMES
Single-Family 43.6
Townhomes 4.7
Small Apt. Buildings 7.2
Apt. Complexes 44.0
Mobile Homes 0.4
Other 0.1

Home Size

SIZE OF Seattle HOMES
No Bedroom 8.50
1 Bedroom 26.11
2 Bedrooms 27.77
3 Bedrooms 22.03
4 Bedrooms 11.35
5 or more bedrooms 4.24