The story of this market
The typical home in ZIP 98008 sells for about $1,504,243, or $697 per square foot.
Prices are down 5.4% from a year ago, which gives buyers more room to negotiate. Homes take about 5 days to sell, which is fast. HUD's fair market rent for a two-bedroom is $2,565 a month.
ZIP 98008 — Bellevue
The 98008 housing market is currently balanced, with a median sale price of approximately $1.5M and a moderate inventory level of 4.6 months. While year-over-year prices have seen a slight correction, the market remains competitive due to high demand from tech-sector professionals and limited supply. The outlook remains stable as buyers and sellers adjust to current interest rate environments.
This ZIP is ideal for families seeking top-tier schools, tech-sector commuters looking for proximity to major employers, and professionals who value a balance of suburban tranquility and urban accessibility.
Median prices moved down 5.4% year over year.
Homes spend a median of 5 days on market with 4.6 months of supply — a fast-moving market.
0% of listings have cut prices · homes sell at 97% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 4.6% · poverty 5.4% — 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 8.0%/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 7.6%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
net influx — more people moved in than out
ZCTA 98008, 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.
Crime rates in the 98008 area remain relatively low compared to regional averages, with property crime being the primary concern. Local law enforcement reports stable trends in public safety across the Bellevue Eastside corridor.
The area is served by the highly-rated Bellevue School District, which is consistently recognized for academic excellence and strong college-readiness metrics. Schools in this ZIP are frequently cited as a primary driver for local residential demand.
The area faces minimal flood risk, though some localized drainage concerns exist in low-lying areas. Wildfire risk is low, and the region is generally well-prepared for wind-related power outages common in the Pacific Northwest.
Economic momentum is driven by proximity to major tech hubs and corporate headquarters in Bellevue and Redmond. Infrastructure development focuses on expanding transit connectivity and mixed-use density near the I-90 and SR-520 corridors.
Property taxes are assessed by King County based on market value, with rates influenced by local school district levies and municipal bonds. There are no state income taxes, but homeowners are subject to standard state and local property tax formulas.
Residents benefit from excellent access to major employment centers in downtown Bellevue and Redmond via I-405 and SR-520. Public transit options, including local bus routes and proximity to future light rail extensions, provide viable alternatives to driving.
The area features extensive green spaces, including the popular Weowna Park and various community trails. Residents have easy access to Lake Sammamish for water activities and are within a short drive of major shopping centers like Bellevue Square.
The rental market is characterized by high demand and low vacancy rates, driven by the influx of tech professionals. Rent growth has stabilized recently, though the market remains competitive for high-quality units.
The economy is anchored by the technology, aerospace, and retail sectors, with major employers including Microsoft, T-Mobile, and Amazon. The area benefits from a highly educated workforce and strong regional economic growth.
The area is served by a robust network of highways including I-405 and SR-520, facilitating regional travel. Public transit is supported by King County Metro and upcoming light rail infrastructure.
Development is focused on transit-oriented projects and the densification of existing commercial corridors. Several mixed-use residential projects are currently in the approval pipeline to address housing demand.
Parcels are subject to Bellevue School District taxes and various King County utility and flood control district assessments.
Property insurance premiums are stable, though homeowners should account for standard Pacific Northwest hazard coverage including wind and water damage.
Data retrieved from data.census.gov ZCTA 98008 profiles.
- Remlinger Farms4.39.9 mi
- Sky Zone Trampoline Park4.112.9 mi
- Tukwila Family Fun Center & Bullwinkle's Restaurant4.311.9 mi
- Sky Zone Trampoline Park4.115 mi
- Round1 Bowling & Arcade412.5 mi
- T-Mobile Park4.710.4 mi
- Climate Pledge Arena4.511.3 mi
- Lumen Field4.610.3 mi
- Paramount Theatre4.710.3 mi
- Topgolf Renton4.19.2 mi
- Space Needle4.611.1 mi
- Pike Place Market4.610.7 mi
- Westfield Southcenter4.412.6 mi
- Woodland Park Zoo4.611.8 mi
- Gas Works Park4.710.6 mi
- Pike Place Market4.610.7 mi
- Gas Works Park4.710.6 mi
- The Museum of Flight4.810.8 mi
- Chihuly Garden and Glass4.711.2 mi
- Museum of Pop Culture4.511.1 mi
- Gas Works Park4.710.6 mi
- Kerry Park4.811.6 mi
- Marymoor Park4.73.6 mi
- Seward Park4.88.1 mi
- Warren G. Magnuson Park4.78.1 mi
- Mercer Island Beach Club4.57.8 mi
- Seattle Boat Company - Newport4.84.4 mi
- Newport Yacht Club4.64.4 mi
- Carillon Point4.85.4 mi
- Lake Sammamish4.71.1 mi
- Topgolf Renton4.19.2 mi
- Willows Run Golf Complex45.7 mi
- Bill Wright Golf Complex At Jefferson Park4.39.7 mi
- The Golf Club at Newcastle4.45.5 mi
- Interbay Golf Center4.512.6 mi
- Bellevue Square4.54.3 mi
- Pike Place Market4.610.7 mi
- Westfield Southcenter4.412.6 mi
- University Village4.69.4 mi
- Uwajimaya Seattle4.610.1 mi
- Paine Field4.721.9 mi
- Seattle-Tacoma International Airport (SEA) Parking Garage3.414.6 mi
- King County International Airport - Boeing Field4.510.4 mi
- Kenmore Air - Lake Union4.610.7 mi
- Kenmore Air - Lake Washington4.512.1 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
Features extensive hiking trails and natural forest areas.
Provides significant recreational access for boating and swimming.
Major regional shopping and dining destination nearby.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.