Million-Dollar Homes Increase Dramatically In 38 Seattle ZIP Codes
Zillow's new national report examined ZIP codes where at least 10% of homes are worth a million dollars.
The Seattle metro area had only 16 of these ZIP codes three years ago, but now, the region has 38. Seattle ranked seventh for the most ZIP codes with a high percentage of million-dollar homes in the country behind New York, Los Angeles, San Francisco, Boston, San Jose and Washington, D.C.
In the exclusive 98039 Seattle ZIP code, where Bill Gates and Jeff Bezos live in Medina, 99.7% of homes are worth at least $1M. In Mercer Island, 88% sell for more than a million, while 64% of West Bellevue homes are worth seven figures, the Seattle Times reports. In the University District, 42% of homes are worth $1M; in Magnolia, 39%; and in Queen Anne, 36% of homes sell for over a million.
The fastest-rising ZIP code is 98075 in Sammamish, where only 11% of homes sold for over a million three years ago. Today, 52% of homes sell for over a million in the same neighborhood. Fremont and Green Lake also have seen enormous growth. Three years ago, less than 3% of homes in the 98103 ZIP were worth seven figures, but now, 17% of homes are.
Only a few ZIP codes on the edges of Seattle, like Lake City and Georgetown, still have fewer than 10% of homes worth $1M.