Alki, Seattle, WA—98116
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Alki, Seattle, WA
As of Oct '25, the median home price in Alki, Seattle, WA is $976,000, with a year-over-year change of -1.1%. This indicates that home prices in Alki, Seattle, WA are decreasing. According to Zillow, the 1-year price projection is 0.1%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $976,000 | -1.1% |
| Single Family | $1,028,000 | -1.2% |
| Condos | $627,000 | -2.6% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $450,000 | -3.2% |
2 Bed | $770,000 | -1.4% |
3 Bed | $1,004,000 | -1.3% |
4 Bed | $1,307,000 | -0.5% |
| 5 Bed | $1,504,000 | -0.3% |
% of Housing Stock
Rental Trends — Alki, Seattle, WA
As of July '25, Rentcast reports the average rent in Alki, Seattle, WA is $2,440, with a year-over-year rent change of -3.6%. Per bedroom, the median rent as of July '25 in Alki, Seattle, WA is studios: $1,690, 1-bedrooms: $1,880, 2-bedrooms: $3,080, 3-bedrooms: $4,010, 4-bedrooms: $6,160. The most common rental property sizes in Alki, Seattle, WA are 1-bedroom and 2-bedroom, accounting for 45.4% and 28.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,940 | $2,440 |
| Studio Rent | $1,520 | $1,690 |
| 1 Bed Rent | $1,850 | $1,880 |
| 2 Bed Rent | $2,900 | $3,080 |
| 3 Bed Rent | $3,600 | $4,010 |
| 4 Bed Rent | $5,000 | $6,160 |
% of Rental Stock
Property Listings — Alki, Seattle, WA
As of Oct '25, Realtor.com reports that the median days on market for a home in Alki, Seattle, WA is 37. This is a increase of 8.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 28.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $874,000 | 7.0% |
Listing Count | 113 | 2.0% |
| Listings as % of Homes | 0.4% | 2.0% |
Days on Market | 37 | 8.0% |
Demographics — Alki, Seattle, WA
As of the latest ACS Survey released in 2023, Alki, Seattle, WA has a population of 28,100, which has increased by 6.2% over the past 5 years. Alki, Seattle, WA is a moderately popular place for families, as children make up 15.5% of the population. The area has a highly educated workforce, with 68.9% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 36.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 28,100 | 6.2% |
% Under 18 | 15.5% | -3.7% |
% Seniors | 15.7% | -6.0% |
% WFH | 36.0% | 300.0% |
% w/ College Degree | 68.9% | 5.7% |
As of the latest ACS Survey released in 2023, Alki, Seattle, WA is a predominantly white area, with 78.9% of the population identifying as white. The white population has shrunk by 1.5% in the last 5 years. The second most common race or ethnicity in Alki, Seattle, WA is asian, making up 6.3% of the population. Foreign-born residents account for 13.6% of the population in Alki, Seattle, WA, and this percentage has increased by 67.9% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 78.9% | -1.5% |
% Black | 3.4% | 100.0% |
% Hispanic | 4.9% | -14.0% |
% Asian | 6.3% | 8.6% |
% Foreign Born | 13.6% | 67.9% |
Mortgage and Risk — Alki, Seattle, WA
According to HUD data as of 2023, there were 511 mortgage originations in Alki, Seattle, WA, of which 96.0% of loans were conventional mortgages. The average loan-to-value was 53.0%, with 8.0% above 90% LTV (normal). This implies small mortgage risk in Alki, Seattle, WA. Investor activity is low, as 1.0% of loans were by investors. 6.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 511 |
% Conventional Loans | 96.0% |
% Government Loans | 4.0% |
% Investor Loans | 1.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 6.0% |
Loan Activity
Rentals and Section 8 — Alki, Seattle, WA
As of 2024, the percent of homes in Alki, Seattle, WA under the Section 8 program is 3.5%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom units appear to be good home sizes to consider for Section 8 housing in Alki, Seattle, WA, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 300 |
Total Units Section 8 | 232 |
% Rentals under Section 8 | 3.5% |
% Occupied Section 8 | 90.8% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $450 | $1,850 | $2,300 |
| 2 Bedroom | -$220 | $2,900 | $2,680 |
| 3 Bedroom | -$70 | $3,600 | $3,530 |
| 4 Bedroom | -$880 | $5,000 | $4,120 |
Affordability — Alki, Seattle, WA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 7.1 |
| Median Home Price | $976,000 |
| Median Household Income | $131,000 |