Seattle is a gorgeous city on the coast of the Puget Sound in the Northwest. It’s popularity makes it one of the fastest growing major cities in the United States. Anytime you are near the waterline of a city, the prices to live there are going to be high. With almost 700,000 residents in the greater Seattle area, the cost of living varies quite a bit per neighborhood.
When talking about average home prices, rental properties, and median income you can see that in order to live in some of the top notch areas surrounding the city, you need to make quite a bit of money. Here are the five most expensive Seattle neighborhoods listed below and a little bit about what makes them so pricey.
5. 10th Ave to East Roy St.
This area of Seattle is considered an urban neighborhood. That doesn't make it inexpensive, in fact quite it’s quite the opposite. Median home prices are around 1.1 million dollars. If that’s out of your price range, you can rent a place on average for around $2000 per month. Most of the real estate here is small one to two bedroom rentals, and homes that have three to four bedrooms in high rises or single family homes. It’s a very populated area, so there’s lots of shops and services that are within walking distance.
As a historic neighborhood, you’ll find it has a ton of cool charm and it’s also noted at having a higher population of same sex couples living together. This is the ultimate area of urban sophisticates who enjoy art galleries, theater, and charity galas. Many people who live in this neighborhood are also able to walk or bike to work, which makes it very convenient for the downtown lifestyle.
4. East Roy St. to 24th Ave E.
With median real estate prices being at 1.2 million and rentals starting around $2600, this is another area that only the upper echelon can afford to live. As a historical neighborhood that is very similar to 10th Ave, you’ll find a mix of occupations and ethnicities here all of whom have high end executive jobs, work as attorneys, and are mainly professionals in businesses downtown.
3. Lake Washington Blvd to East Terrace St.
This neighborhood is right on the water which lends itself to some incredible homes that are definitely over a million dollars. The median home average here is 1.2 million, with small rentals starting at $2700. You can find some larger, four, five and even six bedroom homes or more along the lakeside here. An interesting fact about a very large home on 171 Lake Washington Blvd E is that it used to belong to musician, Kurt Cobain of Nirvana who tragically killed himself there in 1994. The property borders Viretta Park which is a popular public park that has biking and walking trails to enjoy.
More than 44 percent of people living here have some form of higher advanced education degree, such as a PhD or Masters.
If you want to buy a home in this upscale area, prepare to spend around the median price of 1.4 million. Rents start around $2400 and go up from there. This area is also right on the water with most of the real estate being owner occupied, so it’s not easy to rent in this area. Bill Gates, the billionaire owner of Microsoft, was actually born in this area and lived there until 1994.
When you have children it’s important to think about their education. The best Catholic private school in the area is there as well, called Villa Academy, which has grades pre-K through 8th.
1. Madison Park
The most expensive area of Seattle is clearly Madison Park. For median home price, you’re looking at 1.7 million, with rentals being around $2800 for a one bedroom abode. This area is also waterfront property with Madison Park being at the center. You can swim with lifeguards watching over you at the swimming beach during the warmer Summer months at this beautiful public park.
Most of the families in this area have considerable wealth. In fact only around 3.8 percent of neighborhoods in America are wealthier than this posh place.