How expensive is Seattle, really? (Issaquah: insurance, buying a house, buying)

[haggardhouseelf]

Originally Posted by CityGirl72

If you don't have kids and are renting you'll be rolling in money

We have kids, babies and own a house. Our Mortgage is 2200K per month, and daycare is $1600 per month - so there's $3800 out the window that you won't be paying!

It would kick a$$ if I was single with no kids - I make over 100K by myself. Just THINK of all the fun I could have!

PS - I'm from Calif, and to me Seattle is cheaper

DITTO! This is exactly how my husband and I feel. We've lived in Texas, California, and Oregon. We have two children. We rent. Texas was the most affordable place, but flat, hot, and humid. And bugs. Yuk. California was the most crazy-expensive and miserable place. It was way yukky there. Oregon was the most awesome place. We can't wait to get back. The Seattle area? We live on the "Eastside". Expensive, bad traffic, and weird people... Seattle is stinky and too touristy. But - it's beauty (mountains... san juans... olympic peninsula...) and all the green puts it ahead of California. If we were single this place would be fine. (We'd still rather in Oregon even if we didn't have kids...) But we are a family and it's just too hard to survive here. Too expensive. Too crowded. The weather to yuk.

I think you will be fine renting, single, making 72k a year. Just don't have kids or buy a house until you move away. Maybe buy a condo. Not a house.

[IndigoAmour]

I was born in Kirkland, just over the floating bridge on Lake Washington from Seattle. I am now living in Wisconsin because I can't afford to live in the Puget Sound area anymore now that I am retired and on a fixed income. It is sad how populated and expensive it has become in the Puget Sound area. We native to Washington are now a MINORITY!!! Welcome to Washington......NOW GO HOME!!!!

[Dweeby]

So let me ask...where exactly does Seattle's super-expensive reputation come from? Is it accurate?

.......................
For two years in a row, Forbes magazine listed Seattle as the most expensive city in the country in relation to the average income.

Forbes: Is your city overpriced? - MSN Money

[jenlion]

That article is from July 2005.....

[Jennibc]

Originally Posted by jenlion

That article is from July 2005.....

Yes, but read the opening paragraph:
"Once an overpriced city, always an overpriced city." Additionally Forbes had something this past week saying that Seattle had the highest rate of inflation of any city in the country this year.

[Dweeby]

That article is from July 2005.....

Did Seattle get less expensive since 2005? I haven't noticed such.

[BluerSkies]

I'm in my early 30s and make in the mid $50K range. I rent a gorgeous cottage close to downtown for $810 a month (but that is below market and I know it. LOVE my landlord!). I think Seattle is only expensive if you are thinking about settling here and looking to buy a home / raise a family. Those charming Craftsman homes? Yeah. Not going to happen unless you make over $500K combined. As a native East Coast girl, I want my home to be older than my parents. I hate new construction. But even dumbass "urban style townhomes" are beyond what I could afford. Therefore, Seattle is not affordable long range. Also, not a place I would want to raise a family (but that's probably my twisted "you need to reject your roots to find yourself" psychology ; ) Seattle is paradise in many ways. There is a lot to do, if you're into music or the outdoors. The theatre scene is a little anemic, but good for what it is. The community is extremely active and open to citizen participation. You'll make friends pretty easily. Brunch is big here. Keep the forum posted!

[MsKitten]

My husband and I are moving to Seattle from Germany, where we have 50% income tax and 19% sales tax. My husband is getting a salary increase so all in all things look very positive money wise compared with what we are used to now.

We would like to buy a home in the next year or so and eventually have children. We don't necessarily need a place IN Seattle, especially since my husband will be working south of Seattle in Tukwila. I think our combined income will be over $120K. Is it hopeless or possible that we could buy something in the next few years?

[jenlion]

Sure the article claims Once overpriced, Always overpriced. I just don't think a blanket statement like that should be made without backup. They didn't go back very far. It just sounded good, so they wrote it. I think in reality it's probably more cyclical, with a few exceptions.

I DO think Seattle is expensive. But overpriced? People are still moving and living here, so apparently the market will bear it. Doesn't that automatically mean that it's not overpriced? Everything is ridiculously expensive, but it seems that people are consistently willing to pay it in order to live here.

As far it being expensive compared to average income, I could believe that's still true. But a lot has changed nationwide as far as prices and incomes go. It could be that Seattle is even MORE relatively expensive now, but, it seems to me that an article from 2005 can't possible accurately reflect the nation's finances now.

MsKitten, Ira will know more, but I'd bet there are less expensive places near Tukwila where that income would go pretty far, much further than commuting to Seattle proper.

[SeattlitefromNC]

Originally Posted by jenlion

Sure the article claims Once overpriced, Always overpriced. I just don't think a blanket statement like that should be made without backup. They didn't go back very far. It just sounded good, so they wrote it. I think in reality it's probably more cyclical, with a few exceptions.

I DO think Seattle is expensive. But overpriced? People are still moving and living here, so apparently the market will bear it. Doesn't that automatically mean that it's not overpriced? Everything is ridiculously expensive, but it seems that people are consistently willing to pay it in order to live here.

As far it being expensive compared to average income, I could believe that's still true. But a lot has changed nationwide as far as prices and incomes go. It could be that Seattle is even MORE relatively expensive now, but, it seems to me that an article from 2005 can't possible accurately reflect the nation's finances now.

MsKitten, Ira will know more, but I'd bet there are less expensive places near Tukwila where that income would go pretty far, much further than commuting to Seattle proper.

Inflation in Seattle is rising to meet the needs of those with the highest incomes, so I would say that Seattle is affordable to those making six figures, but to those making less or those wanting to raise children, it can be a struggle.

To that end, though, I think that Seattle is a wonderful place. And professionally, I think there is no better place to be. However, I think Seattle is well on its way to being San Francisco Part Two as far as costs are concerned. That will have an impact on the population of Seattle for years to come.