The story of this market
The typical home in ZIP 98118 sells for about $693,500, or $435 per square foot.
Prices are down 8.68% from a year ago, which gives buyers more room to negotiate. Homes take about 28 days to sell, which is fast. HUD's fair market rent for a two-bedroom is $3,250 a month.
ZIP 98118 — Seattle
The 98118 housing market is currently experiencing a price correction, with the median sale price down year-over-year as demand cools. Despite this, the area remains competitive due to its transit connectivity and relative affordability compared to other Seattle neighborhoods. Market activity is steady, supported by consistent interest in transit-oriented residential options.
This ZIP is ideal for commuters seeking transit-oriented living, families looking for established neighborhoods with park access, and investors targeting the growing South Seattle corridor.
Median prices moved down 8.7% year over year.
Homes spend a median of 28 days on market with 2.9 months of supply — a fast-moving market.
19% of listings have cut prices · homes sell at 99.2% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 3.8% · poverty 9.5% — 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 6.2%/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 6.9%/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 98118, King County WA
Crime trends in the 98118 area are generally consistent with broader urban patterns in South Seattle, with property crime remaining a primary concern compared to national averages.
Schools serving the 98118 ZIP code are part of the Seattle Public Schools district, with performance ratings varying significantly across individual elementary, middle, and high school campuses.
The area faces standard urban risks, including potential for localized flooding in low-lying areas near Lake Washington and typical seismic considerations for the Pacific Northwest.
Development momentum is driven by proximity to the Link Light Rail expansion and ongoing urban infill projects, with significant interest in transit-oriented residential density.
Property taxes are assessed by King County based on the annual market value of the property, with rates determined by a combination of state, county, city, and school district levies.
Residents benefit from direct access to the Link Light Rail, providing a efficient transit corridor to Downtown Seattle and the University of Washington, alongside major arterial road access.
The ZIP features extensive green space, including Seward Park on the shores of Lake Washington, numerous community parks, and proximity to the Rainier Valley shopping and dining corridor.
The rental market is characterized by high demand for transit-accessible housing, with a mix of single-family rentals and newer multi-family developments maintaining steady occupancy.
The local economy is anchored by the broader Seattle tech and healthcare sectors, with significant employment opportunities accessible via the regional transit network.
Development is focused on transit-oriented residential projects near the Rainier Valley light rail stations.
Parcels are subject to Seattle Public Schools levies and King County regional service districts.
Data retrieved from data.census.gov ZCTA-level tables.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
- Remlinger Farms4.318.3 mi
- Wild Waves Theme and Water Park3.918.6 mi
- Sky Zone Trampoline Park4.16.2 mi
- Tukwila Family Fun Center & Bullwinkle's Restaurant4.35.4 mi
- Sky Zone Trampoline Park4.116.7 mi
- T-Mobile Park4.74.6 mi
- Climate Pledge Arena4.56.9 mi
- Lumen Field4.64.8 mi
- Paramount Theatre4.75.8 mi
- Topgolf Renton4.14.3 mi
- Space Needle4.66.7 mi
- Pike Place Market4.65.8 mi
- Westfield Southcenter4.45.7 mi
- Woodland Park Zoo4.69.6 mi
- Gas Works Park4.77.9 mi
- Pike Place Market4.65.8 mi
- Gas Works Park4.77.9 mi
- The Museum of Flight4.82.1 mi
- Chihuly Garden and Glass4.76.7 mi
- Museum of Pop Culture4.56.7 mi
- Gas Works Park4.77.9 mi
- Kerry Park4.87.5 mi
- Golden Gardens Park4.712.2 mi
- Discovery Park4.810.8 mi
- Marymoor Park4.710.9 mi
- Pier 664.56.2 mi
- Seattle Yacht Club4.67.4 mi
- Mercer Island Beach Club4.52.3 mi
- Gasworks Park Marina4.67.9 mi
- Seattle Boat Company - Newport4.84.4 mi
- Topgolf Renton4.14.3 mi
- Willows Run Golf Complex411.7 mi
- Interbay Golf Center4.58.8 mi
- Bill Wright Golf Complex At Jefferson Park4.32.6 mi
- The Golf Club at Newcastle4.45.8 mi
- Bellevue Square4.55.9 mi
- Pike Place Market4.65.8 mi
- Westfield Southcenter4.45.7 mi
- University Village4.68.5 mi
- Uwajimaya Seattle4.64.7 mi
- Paine Field4.725.4 mi
- Seattle-Tacoma International Airport (SEA) Parking Garage3.46.9 mi
- King County International Airport - Boeing Field4.51.7 mi
- Kenmore Air - Lake Union4.66.9 mi
- Kenmore Air - Lake Washington4.514.9 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
Large waterfront park on Lake Washington with old-growth forest and trails.
Diverse commercial corridor featuring international cuisine and local retail.
Waterfront park offering recreational space and community events.
Key-figure check: median price corroborated by the prior refresh cycle (within 12.5%).