Sammamish tops the Puget Sound wealthy list

Most Eastsiders could likely rattle off that the wealthiest zip code on the Eastside is the Gold Coast of Medina. And they would be correct. According to data reported this week by the Puget Sound Business Journal, Medina tops the list of wealthiest zip codes in the region with a median household income of $186,484 (based on 2017 income data). What might not be so well-known is who comes in right after the Medina clan.

And the winner is…Sammamish.  Both the 98075 and 98074 zips ranked close behind Medina with median household incomes of $163,409 and $160,618, respectively.   While the median household (total income per residence) numbers compared well to Medina, the per capita (i.e. per person) numbers were significantly less.  Medina came in at $105,342 while the Sammamish zips came in at approximately $64,000.  Many reasons could impact this but it’s likely a combination of the relatively larger population of Sammamish combined with (on average) younger family units who have dual wage earners.

What these numbers also show is that the median price of housing is closely correlated with income levels.  Median home prices in Sammamish are close to $1,000,000 and it takes a significant income to support that kind of housing economics.

Sammamish is a highly desirable place to live and play and we should expect that as the Puget Sound region continues to grow, Sammamish will continue to be place that people will be drawn to.

For more information on what it’s like to live in Sammamish, or the Eastside housing market in general, please reach out to me at russ@thecofanogroup.com or visit the Market Info section of my website where you can get information on active and sold properties in Sammamish and other Eastside zip codes.

 

 

Posted on June 18, 2019 at 7:52 pm
Russ Cofano | Category: Uncategorized

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