ZIP 98116 - 860Z200US98116 — Demographic Snapshot (2023)

Overview

If you’re considering a move, investment, or business opportunity in ZIP 98116, located in the vibrant Seattle area, this demographic and housing snapshot offers a clear picture of the community. With data from 2023, we’ll break down population trends, household dynamics, income levels, housing costs, and racial composition to help you make informed decisions. Whether you’re a homebuyer, real estate investor, small-business owner, or analyst, these insights into ZIP 98116 will guide your next steps.

Population & Households

ZIP 98116 is home to a population of 28,091 residents, making it a moderately sized community with a strong residential presence. This area supports 13,386 households, reflecting a mix of family and individual living arrangements. The total number of housing units stands at 14,652, indicating a slight surplus of available homes compared to occupied households. This balance suggests potential opportunities for buyers or renters looking to settle in this area, as well as for investors eyeing rental properties.

Income & Housing Costs

Financially, ZIP 98116 stands out with a median household income of $130,504, pointing to a relatively affluent community. This income level supports a robust local economy, which can be a draw for businesses seeking a customer base with disposable income. On the housing front, the median home value is $917,000, reflecting a high-demand real estate market. For renters, the median rent is $2,033 per month, which aligns with the area’s upscale housing profile. These figures suggest that while entry costs are significant, the potential for long-term value appreciation could be a strong incentive for buyers and investors.

Race & Ethnicity

The demographic makeup of ZIP 98116 is predominantly White, with 78.86% of the population identifying as such. Other groups include Asian residents at 6.32%, Hispanic or Latino at 4.89%, and Black or African American at 3.34%. This composition indicates a community with a majority White population but with notable diversity that contributes to the cultural fabric of the area. For businesses, this mix can inform marketing strategies or product offerings tailored to varied consumer preferences.

Key Facts

• Total population in ZIP 98116: 28,091 residents.
• Total households: 13,386, supporting a mix of family and solo dwellers.
• Total housing units: 14,652, with some availability for new occupants.
• Median household income: $130,504, indicating strong earning potential.
• Median home value: $917,000, reflecting a premium real estate market.
• Median rent: $2,033, consistent with high housing costs.
• Racial composition: 78.86% White, 6.32% Asian, 4.89% Hispanic, 3.34% Black.

What This Means for You

For homebuyers, ZIP 98116 offers a stable, affluent community with high property values, suggesting a solid long-term investment despite the steep entry cost of around $917,000 for a median-priced home. Renters should prepare for monthly costs near $2,033, which may appeal to those prioritizing location over affordability. Real estate investors and agents will find potential in the slight surplus of housing units (14,652 total vs. 13,386 occupied), which could translate to opportunities for rentals or flips in a high-demand market. Small-business owners can leverage the area’s median income of $130,504 to target a clientele with spending power, particularly in sectors like retail, dining, or services. Analysts studying ZIP 98116 will note the demographic diversity as a factor in understanding community needs and market trends. Across all groups, the data points to a competitive yet rewarding environment for those ready to invest time or capital.

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