Why Invest In Washington State?
Washington state is home to a unique mixture of tech-centric Western cities, who are home to some of the biggest tech companies in the country, and the agriculturally focused Eastern side of the state.
As a booming tech mecha the Seattle area draws in more than 236 new residents a day, largely due to strong local Washington State based tech companies. Microsoft, Amazon, Zillow, Expedia, Boeing, Alaska Air, Starbucks, Costco and Nordstrom all call Western Washington their home. Forbes ranks Washington State as #4 on their Best Places for Business and Careers List.
On the Eastern side of the state, the economy is powered by agriculture, in particular the apple industry, where Washington grows 70% of the apples grown in the US. Washington ranked #3 in the US for the sales value for Vegetables, Melons, and Potatoes, #2 in the US for the sales of Fruit, Tree Nuts, and Berries, and #1 in the US for aquaculture according to the US Census in 2012.
The Washington state real estate market as a whole is considered to be very strong. Here are a few key statistics of the Washington State market as a whole according to Zillow, the median home value in Washington is $322,700. Washington home values have gone up 10.3% over the past year and Zillow predicts they will rise 3.6% within the next year. The median list price per square foot in Washington is $177. The median price of homes currently listed in Washington is $309,000. The median rent price in Washington is $1,795.
The Seattle real estate market is the hottest in Washington and one of the hottest in the US. According to Zillow, the median home value in Seattle is $624,700. Seattle home values have gone up 11.4% over the past year and Zillow predicts they will rise 3.8% within the next year. The median list price per square foot in Seattle is $437, which is higher than the Seattle Metro average of $211. The median price of homes currently listed in Seattle is $599,950. The median rent price in Seattle is $2,400, which is higher than the Seattle Metro median of $2,000.