Magnolia, Seattle, WA—98199
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Magnolia, Seattle, WA
As of Oct '25, the median home price in Magnolia, Seattle, WA is $1,207,000, with a year-over-year change of -1.2%. This indicates that home prices in Magnolia, 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 | $1,207,000 | -1.2% |
| Single Family | $1,302,000 | -1.4% |
| Condos | $449,000 | -4.3% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $353,000 | -3.3% |
2 Bed | $806,000 | -0.9% |
3 Bed | $1,165,000 | -1.6% |
4 Bed | $1,650,000 | -1.1% |
| 5 Bed | $2,103,000 | -0.8% |
% of Housing Stock
Rental Trends — Magnolia, Seattle, WA
As of July '25, Rentcast reports the average rent in Magnolia, Seattle, WA is $2,890, with a year-over-year rent change of -2.7%. Per bedroom, the median rent as of July '25 in Magnolia, Seattle, WA is studios: $1,460, 1-bedrooms: $1,830, 2-bedrooms: $2,400, 3-bedrooms: $3,840, 4-bedrooms: $6,100. The most common rental property sizes in Magnolia, Seattle, WA are 2-bedroom and 1-bedroom, accounting for 39.8% and 28.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,250 | $2,890 |
| Studio Rent | $1,500 | $1,460 |
| 1 Bed Rent | $1,800 | $1,830 |
| 2 Bed Rent | $2,250 | $2,400 |
| 3 Bed Rent | $3,850 | $3,840 |
| 4 Bed Rent | $5,980 | $6,100 |
% of Rental Stock
Property Listings — Magnolia, Seattle, WA
As of Oct '25, Realtor.com reports that the median days on market for a home in Magnolia, Seattle, WA is 33. This is a decrease of -6.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 21.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $1,260,000 | 2.0% |
Listing Count | 103 | 5.0% |
| Listings as % of Homes | 0.4% | 5.0% |
Days on Market | 33 | -6.0% |
Demographics — Magnolia, Seattle, WA
As of the latest ACS Survey released in 2023, Magnolia, Seattle, WA has a population of 22,800, which has increased by 3.6% over the past 5 years. Magnolia, Seattle, WA is a moderately popular place for families, as children make up 20.4% of the population. The area has a highly educated workforce, with 76.9% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 34.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 22,800 | 3.6% |
% Under 18 | 20.4% | 3.0% |
% Seniors | 14.9% | -1.3% |
% WFH | 34.4% | 309.5% |
% w/ College Degree | 76.9% | 11.3% |
As of the latest ACS Survey released in 2023, Magnolia, Seattle, WA is a predominantly white area, with 73.0% of the population identifying as white. The white population has shrunk by 6.8% in the last 5 years. The second most common race or ethnicity in Magnolia, Seattle, WA is asian, making up 12.4% of the population. Foreign-born residents account for 14.2% of the population in Magnolia, Seattle, WA, and this percentage has increased by 8.4% 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 | 73.0% | -6.8% |
% Black | 1.9% | -13.6% |
% Hispanic | 5.8% | -4.9% |
% Asian | 12.4% | 59.0% |
% Foreign Born | 14.2% | 8.4% |
Mortgage and Risk — Magnolia, Seattle, WA
According to HUD data as of 2023, there were 411 mortgage originations in Magnolia, Seattle, WA, of which 96.0% of loans were conventional mortgages. The average loan-to-value was 52.0%, with 8.0% above 90% LTV (normal). This implies small mortgage risk in Magnolia, Seattle, WA. Investor activity is low, as 2.0% 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 | 411 |
% Conventional Loans | 96.0% |
% Government Loans | 4.0% |
% Investor Loans | 2.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 6.0% |
Loan Activity
Rentals and Section 8 — Magnolia, Seattle, WA
As of 2024, the percent of homes in Magnolia, Seattle, WA under the Section 8 program is 1.2%. 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 and 2-bedroom and 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Magnolia, Seattle, WA, because HUD payments exceed market rent, while 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 125 |
Total Units Section 8 | 42 |
% Rentals under Section 8 | 1.2% |
% Occupied Section 8 | 85.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $870 | $1,800 | $2,670 |
| 2 Bedroom | $860 | $2,250 | $3,110 |
| 3 Bedroom | $250 | $3,850 | $4,100 |
| 4 Bedroom | -$1,200 | $5,980 | $4,780 |
Affordability — Magnolia, Seattle, WA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 6.7 |
| Median Home Price | $1,207,000 |
| Median Household Income | $177,000 |