The story of this market
The typical home in ZIP 98122 sells for about $806,276, or $635 per square foot.
Prices are down 2.3% from a year ago, which gives buyers more room to negotiate. Homes take about 45 days to sell. HUD's fair market rent for a two-bedroom is $2,150 a month.
ZIP 98122 — Seattle
The 98122 housing market is currently cooling, with median home values showing a slight year-over-year decline of 2.3%. High interest rates and affordability constraints are driving a shift toward a more buyer-friendly environment, though inventory remains relatively tight. The market is characterized by stable days-on-market figures and a cautious outlook from both buyers and sellers.
This ZIP is ideal for young professionals, students, and urban-dwelling commuters who prioritize walkability and transit access over suburban space. It is less suited for families seeking traditional single-family yards due to high density and cost.
Median prices moved down 2.3% year over year.
Homes spend a median of 45 days on market with 3.2 months of supply — a fast-moving market.
24% of listings have cut prices · homes sell at 98.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 3.8% · poverty 11.2% — 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 4.2%/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 5.4%/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 98122, King County WA
Crime rates in the Central District/98122 area are higher than the national average, with property crime being the most frequently reported issue. Trends remain consistent with broader urban Seattle patterns.
Schools serving the area are part of Seattle Public Schools, with performance varying significantly by specific school site; many families in the area supplement with private education options.
The area faces low risk from wildfires and flooding, though it is located in a seismically active region. Insurance premiums are influenced by regional earthquake and fire risk factors.
The area benefits from proximity to major Seattle employment hubs including Amazon and the University of Washington. Development is characterized by high-density mixed-use infill projects.
Property taxes are assessed by King County based on market value, with rates determined by local levies and state school funding requirements. No state income tax applies to residents.
Residents benefit from excellent transit connectivity to Downtown Seattle and the University District via light rail and bus corridors. Most commutes are short, with high walkability and bikeability scores.
The ZIP features numerous urban parks including Judkins Park and proximity to Lake Washington. Shopping and dining are concentrated along the 23rd Avenue and Union Street corridors.
The rental market is deep with high demand from students and young professionals. Vacancy rates remain low, and the area has a significant presence of both long-term and short-term rental units.
The economy is driven by the broader Seattle tech and healthcare sectors, with major employers including Amazon, Microsoft, and the University of Washington. The area serves as a residential hub for these professional workforces.
The area is served by King County Metro and Sound Transit, providing high-frequency bus and light rail access to the downtown core and regional employment centers.
Development is focused on transit-oriented, high-density residential projects near the new light rail station and major arterial roads.
King County Department of Assessments performs annual revaluations to ensure property assessments reflect current market values.
Parcels are subject to Seattle Public Schools, King County, and various utility districts including Seattle City Light and Seattle Public Utilities.
Property insurance market is stable but sensitive to regional wildfire and earthquake risk, with premiums trending upward in line with state averages.
Washington state continues to see net positive domestic migration, driven by the robust technology sector and lifestyle appeal.
Washington is a non-judicial foreclosure state, with a process governed by the Deed of Trust Act, typically allowing for a faster resolution than judicial states.
Sellers are required to provide a comprehensive disclosure statement covering the condition of the property, including known defects and environmental hazards.
Data retrieved from data.census.gov ZCTA-level tables.
- Remlinger Farms4.318.5 mi
- Sky Zone Trampoline Park4.111.1 mi
- Tukwila Family Fun Center & Bullwinkle's Restaurant4.310.2 mi
- Sky Zone Trampoline Park4.111.9 mi
- Round1 Bowling & Arcade410.5 mi
- T-Mobile Park4.72.1 mi
- Climate Pledge Arena4.52.8 mi
- Lumen Field4.61.9 mi
- Paramount Theatre4.71.7 mi
- Topgolf Renton4.18.9 mi
- Space Needle4.62.6 mi
- Pike Place Market4.62.1 mi
- Westfield Southcenter4.410.5 mi
- Woodland Park Zoo4.64.8 mi
- Gas Works Park4.73.1 mi
- Pike Place Market4.62.1 mi
- Gas Works Park4.73.1 mi
- The Museum of Flight4.86.2 mi
- Chihuly Garden and Glass4.72.6 mi
- Museum of Pop Culture4.52.6 mi
- Gas Works Park4.73.1 mi
- Kerry Park4.83.3 mi
- Golden Gardens Park4.77.6 mi
- Discovery Park4.86.7 mi
- Marymoor Park4.79 mi
- Pier 664.52.5 mi
- Seattle Yacht Club4.62.6 mi
- Gasworks Park Marina4.63.1 mi
- Bell Harbor Marina4.72.4 mi
- Topgolf Renton4.18.9 mi
- Willows Run Golf Complex48.9 mi
- Interbay Golf Center4.54.5 mi
- Bill Wright Golf Complex At Jefferson Park4.33 mi
- Jackson Park Golf Course4.18.3 mi
- Bellevue Square4.54.3 mi
- Pike Place Market4.62.1 mi
- Westfield Southcenter4.410.5 mi
- University Village4.63.7 mi
- Uwajimaya Seattle4.61.6 mi
- Paine Field4.720.7 mi
- Seattle-Tacoma International Airport (SEA) Parking Garage3.411.4 mi
- King County International Airport - Boeing Field4.55 mi
- Kenmore Air - Lake Union4.62.4 mi
- Kenmore Air - Lake Washington4.510.4 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
Large community park with sports fields and trails.
Diverse local dining and boutique shopping corridor.
Major anchor institution bordering the ZIP.
Key-figure check: median price corroborated by the prior refresh cycle (within 12.5%).