ZIP 98118 - 860Z200US98118 — Demographic Snapshot (2023)

Overview

If you’re considering a move, investment, or business opportunity in ZIP 98118, located in the vibrant Seattle area, this demographic and housing snapshot offers a clear picture of what to expect. Based on 2023 data, this area showcases a diverse population, robust household income, and a competitive housing market. Whether you’re a homebuyer, real estate investor, small-business owner, or analyst, these insights can help you make informed decisions about living, working, or investing in ZIP 98118.

Population & Households

ZIP 98118 is home to a substantial population of 49,560 residents, making it a bustling community with a mix of urban and residential vibes. These individuals are distributed across 18,593 households, reflecting a strong base of families, professionals, and diverse living arrangements. With 19,831 total housing units in the area, there’s a slight surplus of homes compared to households, which could indicate some availability for new residents or investors looking to enter the market.

Income & Housing Costs

Financially, ZIP 98118 stands out with a median household income of $109,085, suggesting a relatively affluent community with solid earning potential. This income level supports a housing market where the median house value reaches $746,400, reflecting the area’s desirability and proximity to Seattle’s economic opportunities. For renters, the median rent is $1,831 per month, which aligns with the higher cost of living in this region. These figures highlight a market that demands financial readiness but offers significant value for those who can invest.

Race & Ethnicity

One of the defining characteristics of ZIP 98118 is its cultural diversity, which enriches the community’s social fabric. The racial composition includes 37.95% White, 18.11% Black, 23.67% Asian, and 12.03% Hispanic residents, with the remaining percentage comprising other or mixed-race individuals. This blend of backgrounds creates a dynamic environment, appealing to those who value multiculturalism in their neighborhood or customer base. For businesses and investors, this diversity can translate into varied market needs and opportunities.

Key Facts

• Total population in ZIP 98118: 49,560 residents, indicating a sizable community.
• Total households: 18,593, supporting a mix of family and individual living arrangements.
• Total housing units: 19,831, suggesting some potential availability for new occupants.
• Median household income: $109,085, reflecting strong economic stability.
• Median house value: $746,400, indicative of a premium real estate market.
• Median rent: $1,831, aligning with the area’s higher cost of living.
• Diverse population: 37.95% White, 18.11% Black, 23.67% Asian, and 12.03% Hispanic.

What This Means for You

For homebuyers, ZIP 98118 offers a vibrant, diverse community with a high quality of life, though the median house value of $746,400 means you’ll need to budget accordingly or explore financing options. The slight surplus of housing units (19,831 vs. 18,593 households) might provide some negotiation room, but competition remains stiff in this desirable area. Investors and real estate agents will find opportunities in a market with strong appreciation potential, given the median income and home values, though high entry costs require careful financial planning. Small-business owners can tap into a culturally diverse customer base of nearly 50,000 residents, tailoring offerings to a wide range of preferences and needs. Analysts can use these metrics to benchmark ZIP 98118 against other Seattle-area ZIP codes, identifying trends in income, housing, and diversity that influence market dynamics.

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