The median tracked Seattle ZIP has a home-value-to-annual-rent ratio of 29.8, and that ratio varies more between Seattle ZIPs than it does between metros. The home-value-to-annual-rent ratio runs from 16.8 in 98121 to 50.2 in 98112, so the same metro contains both ends of the range. 1 of 22 ZIPs (5%) show faster rent growth. The median tracked ZIP in Seattle has a typical home value of $815,787 and typical rent of $2,279 per month.
Key stats
- The home-value-to-annual-rent ratio runs from 16.8 in 98121 to 50.2 in 98112, so the same metro contains both ends of the range.
- The median tracked ZIP in Seattle has a typical home value of $815,787 and typical rent of $2,279 per month.
- 1 of 22 ZIPs (5%) show faster inventory growth.
- 1 of 22 ZIPs (5%) show faster rent growth.
- Tracked ZIP markets
- 22
- Median ZIP home value
- $815,787
- Median ZIP rent
- $2,279
- yield spread
- The home-value-to-annual-rent ratio runs from 16.8 in 98121 to 50.2 in 98112, so the same metro contains both ends of the range.
- rent acceleration share
- 1 of 22 ZIPs (5%) show faster rent growth.
- inventory growth share
- 1 of 22 ZIPs (5%) show faster inventory growth.
The measurable part of the question
The median tracked Seattle ZIP has a home-value-to-annual-rent ratio of 29.8, and that ratio varies more between Seattle ZIPs than it does between metros.
Price-to-rent is a yield proxy and nothing more: it carries no financing cost, no tax, no insurance, no vacancy and no management, so it ranks opportunities rather than pricing them.
Where the yield actually differs
The home-value-to-annual-rent ratio runs from 16.8 in 98121 to 50.2 in 98112, so the same metro contains both ends of the range.
A metro-level ratio is an average of neighborhoods that behave differently; the decision is made inside that range, not at its midpoint.
Sources and method
- HomeMarketCap.com data sources: ZIP and metro housing-market datasets
- HomeMarketCap.com methodology: calculation and missing-data rules
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