Seattle, Washington Housing Market Prices
Seattle Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 75% above the Washington median$849,207
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Median rent 15% above the Washington median$2,029
Housing Market Overview
| Metric | Seattle | Washington Avg | US Average |
|---|---|---|---|
| Median Home Price | $849,207 | $485,016 | $248,835 |
| Price Trend (Annual %) | 11.4% | 10.9% | 7.5% |
| Median Gross Rent | $2,029 | $1,759 | $1,407 |
| Rent Trend (Annual %) | 6.1% | 6.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Seattle is about 75% higher than in Washington. Rent is about 15% higher than the Washington average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Seattle, up about 11.4% and 6.1% a year respectively. Home prices are changing faster.
Median rent in Seattle rose about 71.2% between 2015 and 2024, from $1,185 to $2,029. Over the same span, rent in Washington rose about 73.4%.
Affordability
On average, housing unit costs 6.9 yearly household incomes in Seattle.
Buying the median-priced home in Seattle costs roughly 34.9 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Seattle. The price-to-rent ratio in Washington is about 23.0.
| Metric | Seattle | Washington Avg | US Average |
|---|---|---|---|
| Median Home Price | $849,207 | $485,016 | $248,835 |
| Median Household Income | $123,930 | $98,224 | $80,455 |
| Price-to-Income Ratio | 6.9 | 4.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Seattle rose about 153.5%, while median household income rose about 95.8% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Seattle | Washington Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 40.3% | 59.1% | 58.5% |
| Rental Rate | 52.0% | 33.6% | 31.2% |
| Vacancy Rate | 7.7% | 7.3% | 10.2% |
| Median Tenure (years) | 10.0 | 14.0 | 15.0 |
| Median Year Moved In | 2016 | 2012 | 2011 |
Seattle has a homeownership rate of 40.3%, lower than the Washington average of 59.1%. Its housing vacancy rate is 7.7%, compared with 7.3% in Washington.
Housing Stock
| Metric | Seattle | Washington Avg | US Average |
|---|---|---|---|
| Average Household Size | 1.99 people | 2.50 people | 2.53 people |
| Median Structure Built Year | 1976 | 1983 | 1978 |
| Median Number of Rooms | 3.9 | 5.5 | 5.5 |
The typical housing unit in Seattle was built around 1976. On average, 2.0 people live in a home with about 3.9 rooms, staying for about 10.0 years on average.
Seattle, WA Housing Compared With Nearby Cities
How Seattle, WA compares with the 1 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Seattle, WA | 746,776 | $849,207 #2/2 | $2,029 #2/2 | 43.6% #2/2 |
| Mercer Island, WA | 25,053 | $2,062,203 | $2,502 | 66.8% |
Frequently Asked Questions
Common questions about the housing market in Seattle, Washington.
What is the median home price in Seattle, Washington?
The median home price in Seattle, Washington is $849,207, higher than the Washington average of $485,016.
What is the average home price in Seattle, Washington?
The typical home price in Seattle, Washington, reported as the median sale price, is $849,207. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Seattle, Washington?
The median gross rent in Seattle, Washington is $2,029 per month, higher than the Washington average of $1,759.
What was the median gross rent in Seattle in 2020?
In 2020, the median gross rent in Seattle, Washington was $1,701 per month.
What is the price-to-rent ratio in Seattle, Washington?
The price-to-rent ratio in Seattle, Washington is about 34.9, meaning it would take roughly 34.9 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Seattle.
Are home prices or rent rising faster in Seattle, Washington?
Both home prices and rent are rising in Seattle, up about 11.4% and 6.1% a year respectively. Home prices are changing faster.
What is the homeownership rate in Seattle, Washington?
40.3% of households in Seattle, Washington own their home, lower than the Washington average of 59.1%.
What is the vacancy rate in Seattle, Washington?
The housing vacancy rate in Seattle, Washington is 7.7%, higher than the Washington average of 7.3%.
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