dynamic.RE
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An appreciation-lean market without the demand pressure to back it. The rent math runs thin.
What would change this read: a price correction (median already −3.0% YoY) or rent growth lifting rent-to-price toward 0.8%/mo would move this ZIP toward a cash-flow story. inventory, +15.1% YoY, is the number to watch.
The median listing price is down 3.0% YoY while the median home got up 3.6% bigger, so value per square foot is up 1.6%.
Min/max come from the active-listing pool; the median comes from Realtor's separate listing set — the two are not subsets of each other, so the median's position relative to the tiles above should not be read literally.
At the median, a $968K purchase rents for $2,595/mo: 0.27% of price per month against the 1% rule's 1.00%.
Not shown: Studio (rent only, no matching sale price), 6 BR (sale only, no matching rent), 7 BR (sale only, no matching rent).
Sales here take about 33 days longer to go under contract than rentals (median across 3 property types).
Not shown: Apartment (rented here, not sold), Land (sold here, not rented), Multi-Family (sold here, not rented).
U.S. Census ACS characteristics for ZIP 98199 itself, not its parent county.
Renters hold 36.8% of this ZIP's 10,052 occupied households, on a median household income of $181K.
| Measure | ZIP 98199 | King County | Difference |
|---|---|---|---|
| Median Household Income | $181K | $125K | +$56K |
| Below Poverty Level | 5.3% | 8.6% | -3.3% |
| Median Age | 39.50 | 37.40 | +2.10 |
| Total Population | 22,468 | 2,287,171 | -- |
| Avg Household Size | 2.23 | 2.39 | -0.16 |
| Owner-Occupied | 63.2% | 55.4% | +7.7% |
| Worked From Home | 36.5% | 29.2% | +7.3% |
| Mean Commute | 26.00 | 27.60 | -1.60 |
Higher or lower is not itself good or bad — it describes the neighborhood, not the investment.
ZIP-level figures come from ZIP Code Tabulation Areas, which approximate but do not exactly match USPS ZIP codes. A missing value is suppressed or unavailable at this sample size, not zero. Estimates for 2019–2020 use the 2010 ZCTA boundaries and 2021–2024 the 2020 ones, so a step between those two years may be a boundary change rather than real movement.
County population is up 1.1% to 2,287,171: residents under 18 are down 0.3% and those 65 and over are up 3.1%.
County median household income is $125K, 8.6% of residents are below the poverty level, 29.2% work from home.