Did you know?
Housing facts and figures.
Quick Housing Facts
- King County is the 12th largest county in the United States with a population of 1.7 million. Seattle's population makes up about one-third of that total.
- The Housing Wage in King County is $18.94. This is the amount a full-time (40 hours per week) worker must earn per hour in order to afford an average two-bedroom/2-bathroom apartment rent of $985. Rent source: HDC and Dupre + Scott Apartment Advisors Oct '06
- Only 10 out of 40 jurisdictions in King County have sufficient affordable housing (rental and ownership) for persons earning below 50% of area median income. If adequate subsidy resources were available, HDC members have the capacity to provide affordable housing in every jurisdiction.
- A worker earning the minimum wage ($7.93) in King County must work 96 hours per week in order to afford a two-bedroom apartment at the average $985 rent (fall 2006).
- Less than 1% of apartments in King County are affordable to households earning less than 30% of area median income.
- Only 14% of King County's housing stock is affordable to households earning below 50% of area median income.
- Only 18% of single-family homes are affordable to households earning less than 80% of area median income who want to become homeowners.
- Over 8,000 people--men, women and children--are homeless in King County on an average night.
- In Seattle it costs $26/day to house a person in supportive housing, contrasted with $88/day in jail, $555 in a mental facility, and $2,184 in a hospital. Source: The Lewin Group Report 2004.
- HDC members have added more than 19,000 units of affordable housing in the King County region These units have a local annual economic impact of $77 million.
HDC members develop all kinds of apartments and homes. These include:
- Multi-family apartments
- Single-family ownership homes, townhomes and condominiums
- Single-room-occupancy apartments
- Mixed-use residential apartments
- Artist live/work lofts
- Cooperative housing
- Group homes
- New construction and rehabilitation projects
- Preservation projects
Other Resources:
Archives:
Income & Affordability 2008
| Seattle Metro | Income | Affordable Rent |
| Median Income: | $81,400 | $2,035 |
| 80% (Low) | $61,500 | $1,538 |
| 50% (Very Low) |
$40,700 | $1,018 |
| 30% (Extremely Low) |
$24,440 | $611 |
| 125% of Poverty |
$26,500 | $663 |
| Poverty Income | $21,200 | $530 |
| State Minimum Wage (1/1/08) | $16,786 | $420 |
Data for a household of 4. Affordable rent is defined as 30% of income,
and includes heat and utilities.
Data sources: U.S. Dept. of Housing and
Urban Development, U.S. Dept. of Health and Human Services.
Rent Levels
| Fall 2006 | Vacancy Rate | Average Rent |
| Seattle low (Rainer Valley) | 4.5% | $702 |
| Seattle High (Belltown) | 5.7% | $1,785 |
| KC Suburban Low (SeaTac) | 7.4% | $765 |
| KC Suburban High (Mercer Island) | 5.2% | $1,632 |
Rent for a 2-bedroom apartment. Data: Dupre+Scott Apartment Advisors, Inc.
