Wedgwood, Seattle, WA—98115
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Wedgwood, Seattle, WA
As of Oct '25, the median home price in Wedgwood, Seattle, WA is $1,019,000, with a year-over-year change of -1.1%. This indicates that home prices in Wedgwood, Seattle, WA are decreasing. According to Zillow, the 1-year price projection is 0.0%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $1,019,000 | -1.1% |
| Single Family | $1,076,000 | -1.1% |
| Condos | $440,000 | -5.2% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $389,000 | -5.4% |
2 Bed | $745,000 | -2.0% |
3 Bed | $1,020,000 | -1.4% |
4 Bed | $1,271,000 | -0.7% |
| 5 Bed | $1,505,000 | -0.7% |
% of Housing Stock
Rental Trends — Wedgwood, Seattle, WA
As of July '25, Rentcast reports the average rent in Wedgwood, Seattle, WA is $2,770, with a year-over-year rent change of -4.8%. Per bedroom, the median rent as of July '25 in Wedgwood, Seattle, WA is studios: $1,630, 1-bedrooms: $1,850, 2-bedrooms: $2,730, 3-bedrooms: $3,860, 4-bedrooms: $5,320. The most common rental property sizes in Wedgwood, Seattle, WA are 1-bedroom and 2-bedroom, accounting for 35.1% and 26.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,250 | $2,770 |
| Studio Rent | $1,410 | $1,630 |
| 1 Bed Rent | $1,800 | $1,850 |
| 2 Bed Rent | $2,500 | $2,730 |
| 3 Bed Rent | $3,700 | $3,860 |
| 4 Bed Rent | $4,800 | $5,320 |
% of Rental Stock
Property Listings — Wedgwood, Seattle, WA
As of Oct '25, Realtor.com reports that the median days on market for a home in Wedgwood, Seattle, WA is 32. This is a decrease of -22.0% 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 22.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $937,000 | -5.0% |
Listing Count | 180 | 0.0% |
| Listings as % of Homes | 0.2% | 0.0% |
Days on Market | 32 | -22.0% |
Demographics — Wedgwood, Seattle, WA
As of the latest ACS Survey released in 2023, Wedgwood, Seattle, WA has a population of 54,200, which has increased by 1.5% over the past 5 years. Wedgwood, Seattle, WA is a moderately popular place for families, as children make up 18.3% of the population. The area has a highly educated workforce, with 78.3% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 32.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 54,200 | 1.5% |
% Under 18 | 18.3% | -6.2% |
% Seniors | 13.7% | 8.7% |
% WFH | 32.4% | 285.7% |
% w/ College Degree | 78.3% | 5.0% |
As of the latest ACS Survey released in 2023, Wedgwood, Seattle, WA is a predominantly white area, with 72.8% of the population identifying as white. The white population has shrunk by 5.2% in the last 5 years. The second most common race or ethnicity in Wedgwood, Seattle, WA is asian, making up 13.1% of the population. Foreign-born residents account for 12.9% of the population in Wedgwood, Seattle, WA, and this percentage has decreased by 1.5% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 72.8% | -5.2% |
% Black | 1.8% | -14.3% |
% Hispanic | 5.5% | 44.7% |
% Asian | 13.1% | 17.0% |
% Foreign Born | 12.9% | -1.5% |
Mortgage and Risk — Wedgwood, Seattle, WA
According to HUD data as of 2023, there were 703 mortgage originations in Wedgwood, Seattle, WA, of which 97.0% of loans were conventional mortgages. The average loan-to-value was 54.0%, with 9.0% above 90% LTV (normal). This implies small mortgage risk in Wedgwood, Seattle, WA. Investor activity is low, as 1.0% of loans were by investors. 5.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 703 |
% Conventional Loans | 97.0% |
% Government Loans | 3.0% |
% Investor Loans | 1.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 5.0% |
Loan Activity
Rentals and Section 8 — Wedgwood, Seattle, WA
As of 2024, the percent of homes in Wedgwood, Seattle, WA under the Section 8 program is 4.2%. 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 Wedgwood, Seattle, WA, because HUD payments exceed market rent, while 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 661 |
Total Units Section 8 | 389 |
% Rentals under Section 8 | 4.2% |
% Occupied Section 8 | 85.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $740 | $1,800 | $2,540 |
| 2 Bedroom | $460 | $2,500 | $2,960 |
| 3 Bedroom | $200 | $3,700 | $3,900 |
| 4 Bedroom | -$250 | $4,800 | $4,550 |
Affordability — Wedgwood, Seattle, WA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 6.7 |
| Median Home Price | $1,019,000 |
| Median Household Income | $148,000 |