The story of this market
The typical home in ZIP 98199 sells for about $1,200,000, or $599 per square foot.
Prices are up +11.2% from a year ago, so sellers still have some momentum. Homes take about 14 days to sell, which is fast. HUD's fair market rent for a two-bedroom is $2,470 a month.
ZIP 98199 — Seattle
The 98199 housing market is highly competitive with a median sale price of $1.2M, reflecting an 11.2% year-over-year increase. Low inventory and rapid turnover, with homes selling in approximately 14 days, continue to drive price appreciation in this Seattle neighborhood.
This ZIP is ideal for affluent families and professionals seeking a quiet, community-oriented neighborhood with high-quality schools and proximity to downtown employment centers.
Median prices moved up 11.2% year over year.
Homes spend a median of 14 days on market with 0.0 months of supply — a fast-moving market.
0% of listings have cut prices · homes sell at 100% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 2.8% · poverty 5.3% — 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 5.7%/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 6.3%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
in-migration and out-migration balanced
ZCTA 98199
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 in the Magnolia area is generally lower than the Seattle city-wide average, with property crime being the primary concern as is typical for the region.
Schools serving the 98199 ZIP code are highly regarded, with several public schools in the Seattle Public Schools district maintaining strong performance ratings.
The area faces standard Pacific Northwest risks, including potential for windstorms and seismic activity, with specific flood risks limited to low-lying coastal zones along the Puget Sound.
Development is characterized by infill projects and residential renovations, with proximity to major Seattle employment hubs like Amazon and Expedia driving sustained demand.
Property taxes are assessed by King County based on the property's fair market value, with rates determined by local levies and state school funding requirements.
Residents typically commute to Downtown Seattle or South Lake Union via the Magnolia Bridge or bus transit, with travel times varying significantly based on peak-hour traffic.
The ZIP features extensive outdoor amenities including Discovery Park, the largest park in Seattle, as well as access to the Elliott Bay Trail and local shopping in the Magnolia Village.
The rental market is tight with high demand, driven by professionals working in nearby tech hubs and limited inventory of single-family rentals.
The local economy is heavily influenced by the broader Seattle tech and aerospace sectors, with many residents employed by major regional employers like Amazon, Microsoft, and Expedia.
The area is served by King County Metro bus routes, though it remains heavily reliant on private vehicle travel for commuting to the Seattle core.
Development is largely constrained by zoning, with current activity focused on residential density increases and infrastructure maintenance.
The King County Department of Assessments performs annual revaluations of all properties to ensure tax assessments reflect current market values.
Parcels are subject to Seattle Public Schools district taxes and various King County special purpose levies.
Property insurance premiums are rising due to regional wildfire and windstorm risks, though the area is generally considered stable.
Data retrieved from Census Reporter profile for ZCTA 98199.
- Sky Zone Trampoline Park4.115.5 mi
- Tukwila Family Fun Center & Bullwinkle's Restaurant4.314.9 mi
- Sky Zone Trampoline Park4.19.9 mi
- Round1 Bowling & Arcade414.9 mi
- Seattle Children's Museum4.33.3 mi
- T-Mobile Park4.75.4 mi
- Climate Pledge Arena4.53.2 mi
- Lumen Field4.65.2 mi
- Paramount Theatre4.74.3 mi
- Topgolf Renton4.114.3 mi
- Space Needle4.63.4 mi
- Pike Place Market4.64.2 mi
- Woodland Park Zoo4.62.9 mi
- Gas Works Park4.73.4 mi
- Kerry Park4.82.6 mi
- Pike Place Market4.64.2 mi
- Gas Works Park4.73.4 mi
- The Museum of Flight4.810.5 mi
- Chihuly Garden and Glass4.73.3 mi
- Museum of Pop Culture4.53.4 mi
- Gas Works Park4.73.4 mi
- Kerry Park4.82.6 mi
- Golden Gardens Park4.72.8 mi
- Discovery Park4.80.9 mi
- Seward Park4.89.9 mi
- Pier 664.53.8 mi
- Shilshole Bay Marina4.62.3 mi
- Fishermen's Terminal4.61.3 mi
- Elliott Bay Marina Inc4.61.6 mi
- Seattle Yacht Club4.64.6 mi
- Willows Run Golf Complex412.3 mi
- Interbay Golf Center4.51.4 mi
- Bill Wright Golf Complex At Jefferson Park4.37.4 mi
- Jackson Park Golf Course4.16.8 mi
- Bellevue Golf Course4.411.9 mi
- Bellevue Square4.59.8 mi
- Pike Place Market4.64.2 mi
- University Village4.65.1 mi
- Uwajimaya Seattle4.65.3 mi
- The District at Northgate45.4 mi
- Paine Field4.718.7 mi
- Seattle-Tacoma International Airport (SEA) Parking Garage3.415.2 mi
- King County International Airport - Boeing Field4.59.2 mi
- Kenmore Air - Lake Union4.63.5 mi
- Kenmore Air - Lake Washington4.510.1 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
The largest city park in Seattle, featuring forests, meadows, and coastal bluffs.
The central commercial hub of the neighborhood with local boutiques and restaurants.
A scenic waterfront trail connecting the area to downtown Seattle.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.