Seattle’s housing market ranks as the second hottest in the country this year, according to new analysis released by Zillow.
Zillow said the predictions are based upon the company’s Home Value Forecast, recent income growth, and the current unemployment rate.
Top 10 Hottest Markets for 2016 (Market; Forecasted Home Value Appreciation; Income Growth; Unemployment rate)
1. Nashville; 4.3%; 1.1%; 4.0%
2. Seattle; 5.6%; 1.0%; 4.4%
3. Provo; 4.3%, 1.0%; 2.7%
4. Orlando: 5.7%; 1.0%; 2.7%
5. Salt Lake City: 4.3%; 1.0%; 2.8%
6. Portland: 5.2%; 1.0%; 4.8%
7. Knoxville: 4.4%; 1.1%; 4.7%
8. Ogden: 4.7%; 1.0%; 2.9%
9. Denver: 3.6%; 1.0%; 2.9%
10. Sacramento: 4.8%; 1.0%; 5.2%
Here’s what Zillow predicts to be the fastest appreciating neighborhoods in the Seattle metro in 2017:
1. South Delridge, in West Seattle – 7.7% forecasted home value growth
2. Jackson Place, in Seattle – 7.3% forecasted home value growth
3. Northwest Bellevue – 7.1% forecasted home value growth
4. Rainier Beach, in Seattle – 7.072% forecasted home value growth
5. Brighton, in Seattle – 7.071% forecasted home value growth
Here’s what Zillow predicts to be the slowest appreciating neighborhoods in the Seattle metro in 2017:
1. North Redmond – 3.8% forecasted home value growth
2. North Queen Anne – 4.0% forecasted home value growth
3. Wallingford – 4.1% forecasted home value growth
4. Downtown – 4.2% forecasted home value growth
5. Leschi – 4.3% forecasted home value growth
Based on the data, KING 5 found the most affordable neighborhoods in the metro area:
1. Westmont, Everett – median home price of $172,800
2. South Tacoma – median home price of $195,100
3. Eastside, Tacoma – median home price of $203,000
4. South End, Tacoma – median home price of $206,900
5. Central, Tacoma – median home price of $226,900
Based on the data, KING 5 found the most affordable neighborhoods in Seattle:
1. Northgate – median home price of $323,000
2. South Park– median home price of $339,500
3. Rainier View – median home price of $342,700
4. Dunlap – median home price of $356,800
5. South Delridge – median home price of $367,300
