Seattle's $250K club: ZIP codes that require a mid-six-figure salary to afford a home

Mortgage rates have been dropping in recent weeks, but that's only slightly improving affordability in many Puget Sound-area neighborhoods.

The Seattle metro has 21 ZIP codes where it takes at least $250,000 to afford a median-priced home, according to an analysis of data from Zillow Group Inc. and RocketMortgage by The Business Journals.

The analysis was based on current median home values, interest rates and an assumed 10% down payment.

Housing affordability has emerged as a critical issue in metros around the nation as home prices have surged over the past decade and inventory has been limited. Rising interest rates — a function of the Federal Reserve's efforts to flight inflation — have only added to the challenges, especially for young homebuyers.

https://www.bizjournals.com/seattle/news/2023/12/20/most-expensive-zip-codes-insert-market.html