As stated recently in a Realogics Sotheby’s International Realty (RSIR) blog, “The main cause of Seattle’s urban evolution is, first and foremost, that people want to live here.” That fact is reflected in the constant stream of people moving into the city. Earlier this year, The Seattle Times reported that Seattle grew 18.7 percent in the last decade, gaining 114,000 people and ranking as the fastest growing city in the nation. That growth is expected to continue through the next several decades; and by 2035 the expected population of Seattle will gain another 120,000 residents (and another 115,000 jobs).
The record high housing prices in Seattle have been in the news for over a year and a half now. "Seattle's median home price of $830,000 is up 14 percent from a year ago and sets a record after holding steady at the previous high of $819,000 in March and April" states The Seattle Times. Despite new and increased inventory in May, single-family home prices continued to increase further, still - arriving at the current $830,000 median.
It's no secret that Seattle is experiencing record breaking growth. For anyone who has driven, taken the bus, or even tried walking anywhere during rush hour (or any time of the day, for that matter) can attest to the very noticeable density of people in any given area.
But just how does each neighborhood stack against one another? The Seattle Times has compiled a very detailed set of data that shows neighborhood census tracts throughout King County. Thinking that South Lake Union would be densifying the quickest?—the real answer may surprise you!