King County Real Estate and Livability Trends
King County, Washington, has experienced a remarkable rise in median home values, from $384,300 in 2015 to $761,500 in 2022, outpacing state and national trends. Increasing average taxable income, jumping from $91,959.20 in 2013 to $183,342.00 in 2021, aligns with this growth, though higher taxes could be a consideration for investors. Real estate tax hikes from $5,146.90 in 2012 to $9,655.32 in... Read more
King County Market Trends
King County, Washington has experienced a dramatic rise in median home values from $384,300 in 2015 to $761,500 in 2022, outpacing both state and national growth rates. Residential energy tax credits also saw significant fluctuation, notably spiking to $4898.90 in 2018, potentially attracting those interested in energy-efficient home improvements. Real estate taxes surged from $5,146.90 in 2012... Read more
Median Value of Occupied Housing Units in King County, Washington Over the Last 8 Years
King County, Washington has seen a sharp rise in median home values over the past eight years, jumping from $384,300 in 2015 to $761,500 in 2022. This increase outpaces both the state of Washington and national figures, which only grew to $473,400 and $179,400 respectively by 2022. This trend suggests King County's housing market could be particularly attractive for investors, potentially leading to higher demand and increased property values in the near future.
Residential Energy Tax Credit Per Tax Return in King County, WA Over the Last 9 Years
Over the last nine years in King County, Washington, the average residential energy tax credit per tax return has fluctuated significantly. Notably, there was a dramatic spike in 2018, when the credit soared to an average of $4898.90. This erratic trend may capture the attention of potential investors, builders, and real estate agents looking to understand energy-efficient home improvements' financial benefits. Appraisers and insurance agents might also find this data valuable when assessing property values and potential energy savings.
Average Real Estate Taxes Per Tax Return in King County, WA Over the Last 10 Years
King County, Washington has seen a notable upward trend in average real estate taxes per tax return over the past decade. Starting at approximately $5,146.90 in 2012, the average amount gradually increased each year, reaching around $9,655.32 in 2021. This steady rise could reflect increasing property values or changes in tax policies. The significant jumps in 2018 and 2020—surpassing $8,571.76 and $9,395.15, respectively—highlight moments of rapid escalation that might interest potential investors or property developers. This trend suggests higher costs for homeowners, which is valuable insight for appraisers, insurance agents, and real estate professionals.
Percentage of Farm Returns in King County, WA Over the Last 10 Years
Farm tax returns in King County, Washington have seen a gradual decline over the past decade, starting at around 0.19% in 2012 and tapering off to approximately 0.14% in 2021. This suggests a potential shift away from agricultural activities or a change in the economic viability of farming in the area. For investors or those looking to move to King County, understanding these trends could be critical in assessing the area's economic landscape and its impact on property values and local industries.
Number of Mortgages by Occupancy Type in King County, WA Over the Last 5 Years in King County
Mortgage data for King County, Washington shows a noticeable shift in occupancy types over the last five years. Principal residence mortgages have consistently led the market, although their volume has declined from a peak in 2020. Investment property mortgages showed a sharp rise to 18,668 in 2021 but dropped significantly by 2022, potentially indicating market volatility or changing investor preferences. Second residence mortgages have remained relatively stable but low compared to the other categories. Changes in occupancy type could signal broader economic trends or shifts in housing demand, impacting everyone from investors and appraisers to insurance agents and real estate professionals. Understanding these dynamics can provide crucial insights for making informed decisions in an evolving property landscape.
Economic Outlook
King County, Washington, has seen a notable increase in average taxable income per tax return, jumping from $91,959.20 in 2013 to $183,342.00 in 2021. A rise in state and local income taxes and total tax liabilities has paralleled this growth, reflecting a robust and potentially lucrative real estate market. However, investors and homebuyers should be cautious, considering the higher costs associated with increasing tax burdens. Additionally, the percentage of residents living under the poverty... Read more
Average Taxable Income per Tax Return in King County, WA over the last 9 years
Over the past nine years, King County, Washington has seen a steady increase in average taxable income per tax return, climbing from approximately $91,959.20 in 2013 to roughly $183,342.00 in 2021. This trend suggests a growing affluence in the area, which could be a significant factor for investors, real estate agents, and those looking to move or build property here. While such a rise in incomes may reflect a robust local economy, it could also impact property values and insurance rates, offering both opportunities and challenges.
Average State and Local Income Taxes Per Tax Return in King County, WA Over the Last 10 Years
Over the past decade, King County, Washington, has seen a significant upward trend in the average state and local income taxes per tax return, starting from around $15,447.28 in 2012 and climbing sharply to $32,261.86 by 2021. This increase may indicate a rising cost of living and escalating property values, which could have notable implications for investors, homebuyers, insurance agents, and real estate professionals looking at the region. The financial landscape in King County suggests an expanding economic base, presenting potential opportunities but also highlighting the need for careful financial planning.
Average Total Tax Liability Per Tax Return in King County, WA Over the Last 10 Years
Over the past decade, King County, Washington, has experienced a significant upward trend in average total tax liability per tax return, with values climbing from $18,561.48 in 2012 to $41,054.39 in 2021. This trajectory suggests an overall increase in incomes and possibly higher property values in the area, making it a potential hot spot for real estate investment. For appraisers, insurance agents, and real estate agents, the rising tax liabilities could indicate a thriving local economy but may also imply higher costs for residents. Investors and those considering moving to King County should be aware of increasing financial commitments in terms of taxes.
Cost of Living in King County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $3,363 | $1,814 | $1,526 | $2,490 | $2,184 |
| 1 adult 4 children | $3,363 | $1,481 | $1,178 | $2,490 | $2,289 |
| 2 adults 3 children | $3,363 | $1,482 | $1,319 | $2,490 | $1,959 |
| 1 adult 3 children | $3,363 | $1,210 | $971 | $2,490 | $2,120 |
| 2 adults 2 children | $2,504 | $1,213 | $1,112 | $2,255 | $1,470 |
| 1 adult 2 children | $2,504 | $906 | $763 | $2,255 | $1,623 |
| 2 adults 1 child | $2,504 | $959 | $904 | $1,492 | $1,268 |
| 1 adult 1 child | $2,504 | $619 | $556 | $1,492 | $1,314 |
| 2 adults | $2,142 | $770 | $697 | $0 | $869 |
| 1 adult | $2,083 | $420 | $348 | $0 | $883 |
Safety trends & Data
King County, Washington has seen fluctuating property crime trends over the past five years, impacting real estate investments and insurance premiums. Larceny-theft incidents decreased from 6,238.00 in 2019 to 3,278.00 in 2021 but rose again to 4,263.00 in 2022. Vandalism peaked in 2020 with 1,211.00 incidents, while motor vehicle theft notably dropped from 471.00 incidents in 2018 to 253.00 in 2022. With varied patterns in burglary, arson, and fraud, these trends could shape community safety... Read more
Property Crime Trends in King County, WA Over the Last 5 Years
Property crime trends in King County, Washington show fluctuating patterns over the past five years. Larceny-theft remains the most frequent crime, though there was a notable decrease from 6,238.00 incidents in 2019 to 3,278.00 in 2021, before increasing again to 4,263.00 in 2022. Vandalism, burglary, and stolen property offenses also present significant variations, with vandalism peaking in 2020 at 1,211.00 incidents. Motor vehicle theft showed a downward trend, notably from 2018’s 471.00 incidents to just 253.00 in 2022. Arson and fraud incidents varied slightly, with no dramatic shifts. These trends may influence real estate investments, insurance premiums, and community safety measures in the area.
Demographics
King County, Washington, exhibits a relatively balanced gender distribution among its adult population. The county's workforce shows a high level of educational attainment, with a significant proportion holding bachelor's or higher degrees. This could correlate with the tech-driven job market in the region, likely influencing the area's economic landscape. The age distribution highlights a youthful base, with notable representation among those aged 25-34 and 35-44, possibly aligning with the... Read more
Race Distribution in King County, Washington (2022)
Educational Attainment in King County, Washington (2022)
Age Distribution in King County, Washington
Citizen Population in King County, Washington (2022)
Political Trends & Data
King County, Washington, tends to show a significant preference for the Democratic party based on the 2020 U.S. Presidential Election results. The Republican party garnered considerably less support, with minimal votes going to third parties like the Libertarian and Green parties. This might suggest a strong Democratic presence and could indicate smaller parties have a lesser impact in this... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In King County, Washington, the 2020 U.S. Presidential Election results suggest a dominant preference for the Democratic party, potentially reflecting the area's political leanings. The Republican party received considerably less support, with third parties like the Libertarian and Green parties garnering minimal votes. This trend might indicate a strong Democratic presence and possibly a lesser impact from smaller parties in this region.
22.24% of voters voted for the Republican party in the 2020 Presidential Election
74.95% of voters voted for the Democrat party in the 2020 Presidential Election
1.50% of voters voted for the Livertarian party in the 2020 Presidential Election
0.47% of voters voted for the Green party in the 2020 Presidential Election
0.84% of voters voted for the Other party in the 2020 Presidential Election
School Data
In King County, Washington, the student-to-teacher ratio consistently ranges between 17 and 19, exceeding the national average of 14. This could indicate larger class sizes and possibly affect personalized education and student performance. For real estate investors, families, and educational appraisers, understanding this trend is critical for evaluating the value of local educational facilities. Additionally, insurance agents and property developers might find these insights valuable when... Read more
Student-to-teacher ratio in King County, Washington over the last 9 years
Over the last nine years in King County, Washington, the student-to-teacher ratio has consistently hovered around 17 to 19, which exceeds the national average of 14 students per teacher. This higher ratio could suggest larger class sizes, potentially impacting personalized education and student performance. For real estate investors, families considering a move, and educational appraisers, understanding this trend may be crucial for assessing the value and appeal of educational facilities in the area. Such insights might also influence insurance agents and property developers when evaluating risks or planning new educational infrastructure.
