View in Interactive Map

Magnolia, Seattle, WA—98199

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$1,270,000
1.5% YoY Growth
Household Income
$177,000
63.1% YoY Growth
Days on Market
37
2.0% Longer YoY
Home Price Forecast
-1.5%
Median Rent
$2,250
2.7% YoY Growth
1-Bed Rent
$1,800
6.2% YoY Growth
2-Bed Rent
$2,250
12.1% YoY Growth
3-Bed Rent
$3,850
3.3% YoY Growth
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Magnolia, Seattle, WA

As of May '26, the median home price in Magnolia, Seattle, WA is $1,270,000, with a year-over-year change of -1.5%. This indicates that home prices in Magnolia, Seattle, WA are decreasing. According to Zillow, the 1-year price projection is -1.5%, suggesting a decrease housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$1,270,000-1.5%
Single Family $1,374,000-1.6%
Condos $463,000-3.9%

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed
  • Affordability
  • Rentals and Section 8
    • $354,000
    -3.5%
    2 Bed
    		$828,000-0.8%
    3 Bed
    		$1,222,000-1.9%
    4 Bed
    		$1,725,000-1.4%
    5 Bed $2,200,386-0.5%
    Loading chart...

    % of Housing Stock

    Studio
    2.5%
    1 Bedroom
    15.0%
    2 Bedrooms
    32.9%
    3 Bedrooms
    27.7%
    4 Bedrooms
    16.7%
    5+ Bedrooms
    5.1%

    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.

    TypeMedian RentAverage 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
    Loading chart...

    % of Rental Stock

    Studio
    4.8%
    1 Bedroom
    28.7%
    2 Bedrooms
    39.8%
    3 Bedrooms
    18.6%
    4 Bedrooms
    6.7%
    5+ Bedrooms
    1.4%

    Property Listings — Magnolia, Seattle, WA

    As of May '26, Realtor.com reports that the median days on market for a home in Magnolia, Seattle, WA is 37. This is a increase of 2.0% 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 35.0%, representing a large inventory and a lot of supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$975,00010.0%
    Listing Count
    		10423.0%
    Listings as % of Homes0.4%23.0%
    Days on Market
    		372.0%
    Loading chart...

    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.

    MetricLatest CensusYoY % Change
    Population
    		22,8003.6%
    % Under 18
    		20.4%3.0%
    % Seniors
    		14.9%-1.3%
    % WFH
    		34.4%309.5%
    % w/ College Degree
    		76.9%11.3%
    Loading chart...

    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

    MetricLatest Census5-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%
    Loading chart...

    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

    MetricZip 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%
    Loading chart...
    Loading chart...

    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 SizeHUD PremiumMarket RentMax 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

    MetricZip Code Average
    Home Price to Income Ratio7.1
    Median Home Price$1,270,000
    Median Household Income$177,000

    Magnolia, Seattle, WA — ZIP Code Boundary Map

    Loading map...

    Nearby ZIP Codes

    Ballard, Seattle, WA

    98107

    Queen Anne, Seattle, WA

    98119

    North Beach, Seattle, WA

    98117

    South Lake Union, Seattle, WA

    98109

    Green Lake, Seattle, WA

    98103

    Frequently Asked Questions