We completed our preliminary research on 1 bedroom housing in Seattle. We’ll be publishing this research once we’ve worked out all the bugs. In the mean time, we wanted to give a sneak peek at what we found.
We took a look at over 2000 units from 11/21/2013 to 11/27/2013. From this research we learned a lot about the housing market in Seattle. For this post, I’ll start with the price of a 1 bedroom in Seattle:
Average price of a 1 bedroom: $1,436/month
Average square footage of a 1 bedroom: 692 square feet
Median price of a 1 bedroom: $1,399/month
Median Square footage of a 1 bedroom: 680 square feet
This is close to the other research we’ve seen on housing in Seattle (take a look here). When reading this pricing we should all consider the opportunity offered by micro-housing. People who are willing to give up a third of their space, get a unit for about a third of the price. In other words, the real opportunity offered is more diverse choices and ultimately a more diverse neighborhood.
Additionally, the primary goal of this organization is to not just prevent or slow increases in that price, but ultimately reduce it.