Seattle Top Real Estate Market In The Nation
Seattle is the nation's top-ranked market for real estate, surging to the top from No. 4 last year in PwC's 2018 Emerging Trends in Real Estate report.
The survey found the city, with its tech giant tenants and well-educated labor force, beats out other cities for livability, cost and technology readiness. There is a positive forecast for all property sectors in Seattle, especially in industrial and single-family housing, according to the report.
The optimistic predictions for real estate reflect the economic outlook for the city, investor demand and capital available. The city's population has grown at twice the national rate. Of its residents, 17% have graduate or professional degrees and 37% have associates or bachelor's degrees.
In terms of affordability, rent as a percentage of household income is 20.8%, PwC reports. By comparison, No. 2 Austin has rent at 19.9% of household income. Los Angeles, ranked No. 7, had rent at more than 31% of household income. Seattle's disposable income is projected to grow over the next five years.