The story of this market
The typical home in ZIP 98121 sells for about $530,000, or $705 per square foot.
Prices are down 5.4% from a year ago, which gives buyers more room to negotiate. Homes take about 42 days to sell. HUD's fair market rent for a two-bedroom is $2,150 a month.
ZIP 98121 — Seattle
The 98121 housing market is currently experiencing a period of price correction with a 5.4% year-over-year decline in home values. Elevated vacancy rates and a softening demand profile are driving this trend, making it a challenging environment for sellers. Buyers are finding more leverage as inventory remains steady and price cuts become more frequent.
This ZIP is best suited for young professionals, urban commuters, and investors seeking proximity to downtown Seattle's employment and entertainment core.
Median prices moved down 5.4% year over year.
Homes spend a median of 42 days on market with 5.2 months of supply — a fast-moving market.
18% of listings have cut prices · homes sell at 97.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 3.5% · poverty 8.5% — 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 1.3%/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 2.8%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
ZCTA 98121, King County WA
The area experiences higher rates of property crime compared to the national average, consistent with its dense urban core location in downtown Seattle.
Schools serving the area are part of Seattle Public Schools, with performance varying significantly by specific school site and program focus.
The area is primarily an urban environment with low wildfire risk, though it remains subject to standard regional seismic and wind event considerations.
Development is characterized by high-density residential and mixed-use projects, supported by proximity to major downtown Seattle employment hubs and tech corridors.
Property taxes are levied by King County based on assessed value, with additional local levies for schools and transit; no state income tax applies to individuals.
Highly walkable and transit-oriented, the ZIP offers immediate access to downtown Seattle employment centers via light rail, bus, and major arterial roads.
Residents have access to the Seattle waterfront, Olympic Sculpture Park, and numerous downtown parks, with extensive shopping and dining options in Belltown and Pike Place Market.
The rental market is characterized by high inventory and competitive pressure, with a significant presence of luxury apartment buildings and professional management.
The economy is driven by the broader Seattle tech and corporate sector, with major employers including Amazon and various regional healthcare and retail headquarters.
Excellent connectivity via King County Metro and Sound Transit light rail, serving as a primary hub for regional transit access.
The area is subject to intensive urban infill planning, focusing on high-density residential and commercial expansion near the waterfront.
Parcels are subject to Seattle Public Schools and various municipal utility districts for water and sewage.
Standard urban property insurance market with typical coverage requirements for high-rise and multi-family structures.
Data retrieved from ZCTA-level census profiles and market reports.
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.
- Sky Zone Trampoline Park4.112.2 mi
- Tukwila Family Fun Center & Bullwinkle's Restaurant4.311.5 mi
- Sky Zone Trampoline Park4.111.5 mi
- Round1 Bowling & Arcade411.6 mi
- Seattle Children's Museum4.30.4 mi
- T-Mobile Park4.71.8 mi
- Climate Pledge Arena4.50.5 mi
- Lumen Field4.61.6 mi
- Paramount Theatre4.70.9 mi
- Topgolf Renton4.110.7 mi
- Space Needle4.60.4 mi
- Pike Place Market4.60.5 mi
- Westfield Southcenter4.411.6 mi
- Woodland Park Zoo4.63.7 mi
- Gas Works Park4.72.2 mi
- Pike Place Market4.60.5 mi
- Gas Works Park4.72.2 mi
- The Museum of Flight4.87.1 mi
- Chihuly Garden and Glass4.70.4 mi
- Museum of Pop Culture4.50.4 mi
- Gas Works Park4.72.2 mi
- Kerry Park4.81.1 mi
- Golden Gardens Park4.75.8 mi
- Discovery Park4.84.5 mi
- Marymoor Park4.711.2 mi
- Pier 664.50.2 mi
- Shilshole Bay Marina4.65.4 mi
- Fishermen's Terminal4.63.1 mi
- Elliott Bay Marina Inc4.62.2 mi
- Seattle Yacht Club4.62.8 mi
- Topgolf Renton4.110.7 mi
- Willows Run Golf Complex410.7 mi
- Interbay Golf Center4.52.4 mi
- Bill Wright Golf Complex At Jefferson Park4.33.9 mi
- Jackson Park Golf Course4.18 mi
- Bellevue Square4.56.8 mi
- Pike Place Market4.60.5 mi
- Westfield Southcenter4.411.6 mi
- University Village4.64 mi
- Uwajimaya Seattle4.61.7 mi
- Paine Field4.720.5 mi
- Seattle-Tacoma International Airport (SEA) Parking Garage3.412.1 mi
- King County International Airport - Boeing Field4.55.8 mi
- Kenmore Air - Lake Union4.61 mi
- Kenmore Air - Lake Washington4.510.7 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
A major waterfront green space featuring outdoor art installations.
Iconic historic market serving as a major regional anchor.
Dense urban neighborhood known for its nightlife and dining scene.
Key-figure check: median price corroborated by the prior refresh cycle (within 12.5%).