A $150k income 'won't get you far' in Seattle's housing market: Here's why

  • 📰 Mynorthwest
  • ⏱ Reading Time:
  • 8 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 6%
  • Publisher: 53%

Business News News

Business Business Latest News,Business Business Headlines

The real estate market in Seattle, or really anywhere in western Washington, is a lot of things. But affordable? Not quite.

According to a recent survey done by the Census Bureau, the average income in Seattle is $110,000. According to the Northwest Multiple Listing Services, the average price of a house in King County is $726,000 as of February 2023.Matthew Gardner, the Chief Economist for Windermere Real Estate, tells KIRO 7 that households with an annual income of $150,000 may qualify for a loan between $550,000-$570,000. In his words, “that doesn’t get you far in Seattle.

But really, no matter where you sit on the pay scale, Gardner says a good start to the homebuying journey is simple: save your money.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Also, conveniently located to major fentanyl use and trafficking.

No one wants to sell at a loss. Unless you bought your home 10 or 20 years ago you may be out of options. Lots of options in Texas or Tennessee.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 438. in BUSİNESS

Business Business Latest News, Business Business Headlines