Diverse Options for a Market in Demand

Downtown Seattle is everybody’s neighborhood, and that’s reflected in the area’s growing residential population. During the past decade, more than 27,000 residential units were completed downtown. In 2019, 4,293 residential units were completed downtown. This was down from a peak of 5,723 two years earlier (the highest number since we began tracking). The majority of these were apartments. During the first half of 2020, an additional 831 residential units were completed. Another 3,462 are scheduled to be completed by the end of the year for a total of 4,293 units planned for completion this year. It is important to note that some of these projects may be pushed into 2021 due to delays related to recent COVID-19 shutdowns.

Housing Market Statistics

Sources: housing mix data are derived from the King County Assessor and CoStar data; development data are from the DSA Development Guide (based off of permits with the City of Seattle); apartment market data are from CoStar. The 2020 apartment market data are year-to-date as of July 27, 2020.

If you have questions about our research, contact Elliott Krivenko at elliottk@downtownseattle.org.