The story of this market
The typical home in ZIP 98005 sells for about $1,850,000, or $724 per square foot.
Prices are up +12.1% from a year ago, so sellers still have some momentum. Homes take about 54 days to sell. HUD's fair market rent for a two-bedroom is $2,389 a month.
ZIP 98005 — Bellevue
The 98005 housing market is highly competitive, driven by strong demand from tech-sector professionals and limited inventory. Prices have seen significant year-over-year growth, reflecting the area's status as a premium Eastside location with top-tier schools and proximity to major employment hubs.
This ZIP is ideal for high-income professionals and families seeking proximity to major tech employers, top-tier schools, and urban amenities.
Median prices moved up 12.1% year over year.
Homes spend a median of 54 days on market with 5.4 months of supply — a balanced-paced market.
0% of listings have cut prices · homes sell at 99.1% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 4.7% · poverty 8.9% — a stable, low-distress profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 10.6%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 4.1%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
in-migration and out-migration balanced
ZCTA 98005, King County WA
ACS 2024 5-year estimates. Aggregate published statistics for this ZIP — never individual records, and never an attribute of any individual property or resident.
The area is served by the highly-regarded Bellevue School District, which is consistently ranked among the top districts in Washington state.
The region faces standard Pacific Northwest risks including windstorms and potential seismic activity, with insurance premiums reflecting these regional hazard profiles.
The area benefits from proximity to major tech headquarters in downtown Bellevue and ongoing regional infrastructure investments, maintaining strong economic momentum.
Property taxes are assessed by King County based on local millage rates; the effective rate in this ZIP is approximately 0.6%, which is lower than the Washington state average.
Residents benefit from excellent access to major employment hubs in downtown Bellevue and Seattle via I-405 and SR-520, with robust transit options available.
The area features numerous parks and greenbelts, including proximity to the Mercer Slough Nature Park and various shopping districts like Bellevue Square.
The rental market is characterized by high demand and premium pricing, with a significant share of the housing stock consisting of apartments.
The local economy is anchored by the technology sector, with major corporate headquarters and offices located in the immediate Bellevue area.
The area is well-served by major highway corridors including I-405 and SR-520, facilitating regional connectivity.
Ongoing development in the Bellevue downtown core continues to influence the surrounding residential market.
King County Department of Assessments manages property valuations with annual updates based on market sales data.
Parcels are subject to standard King County taxing districts, including school, fire, and library districts.
Property insurance costs are influenced by regional wildfire and windstorm risk assessments common to the Puget Sound area.
Data sourced from US Census Bureau and ZipDataPortal.
- Remlinger Farms4.312.7 mi
- Sky Zone Trampoline Park4.111.9 mi
- Tukwila Family Fun Center & Bullwinkle's Restaurant4.310.9 mi
- Sky Zone Trampoline Park4.113.3 mi
- Round1 Bowling & Arcade411.4 mi
- T-Mobile Park4.77.7 mi
- Climate Pledge Arena4.58.5 mi
- Lumen Field4.67.6 mi
- Paramount Theatre4.77.4 mi
- Topgolf Renton4.18.5 mi
- Space Needle4.68.3 mi
- Pike Place Market4.67.9 mi
- Westfield Southcenter4.411.5 mi
- Woodland Park Zoo4.69.1 mi
- Gas Works Park4.77.9 mi
- Pike Place Market4.67.9 mi
- Gas Works Park4.77.9 mi
- The Museum of Flight4.88.9 mi
- Chihuly Garden and Glass4.78.3 mi
- Museum of Pop Culture4.58.2 mi
- Gas Works Park4.77.9 mi
- Kerry Park4.88.8 mi
- Golden Gardens Park4.712 mi
- Discovery Park4.811.9 mi
- Marymoor Park4.74.1 mi
- Seattle Yacht Club4.66.7 mi
- Mercer Island Beach Club4.56.5 mi
- Gasworks Park Marina4.67.8 mi
- Seattle Boat Company - Newport4.82.8 mi
- Newport Yacht Club4.62.9 mi
- Topgolf Renton4.18.5 mi
- Willows Run Golf Complex45.3 mi
- Interbay Golf Center4.59.8 mi
- Bill Wright Golf Complex At Jefferson Park4.37.1 mi
- The Golf Club at Newcastle4.45.6 mi
- Bellevue Square4.51.5 mi
- Pike Place Market4.67.9 mi
- Westfield Southcenter4.411.5 mi
- University Village4.66.8 mi
- Uwajimaya Seattle4.67.3 mi
- Paine Field4.720.9 mi
- Seattle-Tacoma International Airport (SEA) Parking Garage3.413.3 mi
- King County International Airport - Boeing Field4.58.2 mi
- Kenmore Air - Lake Union4.67.9 mi
- Kenmore Air - Lake Washington4.510.6 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
A large nature preserve featuring trails and wetlands.
A major regional shopping and dining destination.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.