Seattle is one of the most beautiful cities in the world. From Pike Place Market to the Space Needle and Sky View Observatory, Seattle draws in travelers from around the world.
The neighborhoods, from Fremont to Capitol Hill, are eclectic and unique, often reserving a place in the hearts of locals who couldn’t imagine moving even 20 minutes away.
And there’s always something to do on any night of the week, whether it’s a comedy show, live music, sports game, sightseeing, city tours, bar hopping, or any of the other thousands of happenings on any given night.
In the summer, you can find friends swimming or boating out on the water, and in the winter, there are numerous festivals and holiday events. The Greater Seattle Area has also become a popular destination to live, such as Bellevue or Kirkland. These cities are beautiful in their own right and close enough to Seattle to enjoy all the sights and events on a day’s notice.
The job market is one of the best in the nation. People relocate from around the world to work at some of Seattle’s top employers, such as Amazon, Starbucks, and Microsoft. According to The Seattle Times, Amazon alone employs upwards of 40,000 individuals and reports say even Silicon Valley’s best and brightest have been drawn to Seattle’s tech scene.
Perhaps one of the only downsides to Seattle and its surrounding cities, besides its heavy rush hour traffic, is the cost of living. Seattle comes in at over 100% higher than the average U.S. cost of living. For comparison, Austin, Texas is 30% higher while Los Angeles is at 95% above average, according to Best Places research.
The biggest driving factor? Housing. How did Seattle inherit its reign as the nation’s hottest housing market?
One of the biggest reasons is supply vs. demand. There aren’t enough homes for all the people who want to be here. The Seattle Times research tells us that in March 2018, King County had around 2,000 homes for sale, while “during the average month of March over the last two decades, the region had more than 7,800 homes for sale — nearly four times as many.”
When something is in high demand, it’s a seller’s market. With a much lower number of available homes and rising demand, housing costs have skyrocketed.
The tech industry plays a huge part. With thousands of tech workers in Seattle making over $100,000 a year, a new standard was set: a lot of people with a lot of money outbidding the asking price and homes selling for much more than they used to (or maybe should.) Bidding wars are now expected and families can search for a home for years without finding one.
Research by The Seattle Times also tells us that “in the typical year over the last two decades, the county had 1 home for sale for every 230 people,” but now “there’s one home available for every 1,060 people.”
One home for every 1,060 people. That’s how Seattle got its crown.