There's no doubt about it, housing in Seattle is expensive.
According to Zillow, rents in Seattle have increased 21% over the last 5 years, while average income has only increased 10.5%, making us the 8th most expensive rental market in America. The average Seattle renter spends just over 30% of his income on rent, as opposed to the average homeowner, who spends just over 15% on her mortgage.
Curbed Seattle crunched the purchase numbers and determined that being able to afford a median-priced $359,900 home with a 20% down payment would require an annual salary of $75,098, vs. Seattle's $65,677 median household income. The median single-family home price in Seattle is $543,500, though…which by my back-of-the-envelope math would require an income of $113,398, or nearly twice Seattle's median, using Curbed's methodology.
On December 11, experience the sculpture park as you never have before—walk the path lit with the glow of hundreds of lights and luminarias. Make art, listen to music, sip a hot drink, grab a sweet bite, and take in the sights.