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Housing
Downtown Seattle is experiencing a major surge in
new residents and housing opportunities. More than 34
apartment buildings and condos are currently under
construction or being renovated in Center City. Last year,
the City also approved landmark zoning legislation to
allow for taller and denser buildings in Downtown. As a
result, up to $92 million is expected to be generated for
new affordable housing, and $12 million for child care in
Downtown Seattle.*
*Source: City of Seattle Dept. of Planning & Development
Highlights
- There were 37,092 housing units in Center City, 13% of total
housing units in the city of Seattle in 2006.
- Center City housing is 16% owner occupied; 84% rentals.
- 3,948 new residential units are currently under construction or
permitted in Center City.
- There are 4,637 subsidized housing units in Center City Seattle,
12.5% of the total housing units in the greater Downtown area.
- The South Lake Union neighborhood is projecting the development
of 10,000 new residential units and 8,000 new households with
17,000 residents by the end of 2024.
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Sources: Claritas, The Seattle Times.
Numbers above reflect the new Center City boundaries which includes
CBD, Denny Triangle, Belltown, Pioneer Square, Waterfront, Uptown, South
Lake Union and parts of Capitol Hill, First Hill, and SoDo.
| Downtown Apartment Vacancy Report |
Unit
Type |
Average Rent/ Unit |
Market Vacancy |
Average Rent/
Sq Ft |
| Belltown |
| Studio |
$910 |
5.0% |
$1.80 |
| One-Bedroom/One-Bath |
$1,248 |
4.4% |
$1.64 |
| Two-Bedroom/One-Bath |
$1,547 |
5.7% |
$1.67 |
| Two-Bedroom/Two-Bath |
$2,022 |
5.9% |
$1.79 |
| Three-Bedroom/Two-Bath |
$3,400 |
2.7% |
$2.33 |
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| Capitol Hill/Eastlake |
| Studio |
$696 |
3.0% |
$1.55 |
| One-Bedroom/One-Bath |
$837 |
1.2% |
$1.36 |
| Two-Bedroom/One-Bath |
$1,133 |
0.8% |
$1.35 |
| Two-Bedroom/Two-Bath |
$1,242 |
1.1% |
$1.35 |
| Three-Bedroom/Two-Bath |
$1,812 |
0.0% |
$1.25 |
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| First Hill |
| Studio |
$668 |
2.5% |
$1.57 |
| One-Bedroom/One-Bath |
$928 |
3.3% |
$1.39 |
| Two-Bedroom/One-Bath |
$,290 |
2.4% |
$1.48 |
| Two-Bedroom/Two-Bath |
$1,528 |
5.5% |
$1.58 |
| Three-Bedroom/Two-Bath |
$2,210 |
0.0% |
$1.40 |
Belltown - Broad St and Mercer St to the north, E Olive Way and 4th Ave to the east, Alaskan Way to the west, and S. Jackson St to the south. The census tracts are: 72, 73, 80.01, 80.02, 81, and 92.
First Hill - 4th Ave to the east, Olive Way to the north, Broadway to the west, and Yesler Way to the south. The census tracts are: 82, 83, 84, and 85.
These two area groupings in concert with part of Capitol Hill/ Eastlake, encompass the majority of Center City. These boundary designations were determined and used by Dupre+Scott. (The Apartment Vacancy Report, Oct. 2006)
Dupre+Scott boundaries
Source: Dupre+Scott, The Apartment Vacancy Report, Oct 2006
Source: Dupre+Scott, The Apartment Vacancy Report, Oct 2006
Downtown Residential Development
- In 2006 there were 1,575 residential units completed in Center City.
- For 2007 there are currently 2,390 residential units scheduled for completion in Center City.
For more residential development info, click here
Source: Downtown Seattle Development Guide
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