Most Affordable Neighborhoods in Seattle
Seattle, Washington is located on a narrow isthmus between Puget Sound and Lake Washington. The metropolitan Seattle area is home to about four million residents. The city itself is a diverse mix. Its location makes Seattle a busy port city as well as an area full of loggers and outdoorsman. At the same time, the city also offers five star dining and first class cultural opportunities. If buying a Seattle home is in your future, but you are looking on a budget, you can still find some good deals for under $250,000 among Seattle real estate. During 2012, most real estate markets across the nation were stagnant or saw a slight increase in average sale price. Seattle real estate, however, rebounded from the recent recession much faster than most markets, showing a 24 percent increase in Seattle real estate values for 2012. In addition, distressed homes are on the decline and all other factors point to Seattle being a seller’s market for the foreseeable future. There are, however, still neighborhoods where budget friendly homes can still be found. Consider the following neighborhoods:
Highland Park—located southwest of downtown Seattle, Highland Park is found within the larger neighborhood of Delridge. A traditionally working class neighborhood, Highland Park is a diverse area where homes starting around $200,000 can still be found. Smaller, two and three bedroom single family homes built in the 1960s and 1970s can be found in Highland Park. The area is close to Being Field and the Industrial District.
Northgate— Northgate is an informal name for the urban area just north of downtown Seattle. The area is named for the Northgate mall which opened in 1950. As of 2013, the average home price in the Northgate area was just over $200,000. The Sheihk Idriss Mosque is located in the area. Although single family homes can be found in Northgate, condominiums are more common.
South Beacon Hill –in southeast Seattle you will find Beacon Hill. Within the Beacon Hill area is South Beacon Hill where you can find Seattle real estate in the mid to upper $200,000s. The area was the world headquarters of Amazon.com until recently. If historic charm attracts you, you may be able to find it in South Beacon Hill where it is not unusual to find a home built during the early 1900s.
With a little bit of patience and the assistance of an experienced real estate agent, buying a Seattle home for under $250,000 can still be accomplished even though the market has shifted over the last year from a buyer’s market to a seller’s market.