Seattle is growing ever more diverse as people from all walks of life settle in to build careers, learn, raise families, or enjoy their retirement. The Seattle housing scene has been enjoying steady growth and savvy investors are capitalizing on the knowledge that there will be no shortage of people looking for a place to call home.
Certain neighborhoods attract particular kinds of tenants. For example, young adults looking to study at uni will go for apartments or dorms close to colleges and universities. Entrepreneurs and techy, upwardly mobile millennials will look for condominiums or apartments that are closer to work or networking opportunities. Work at home parents, bootstrappers, and young families will need to be near schools and commercial places for convenience. Baby boomers and retirees will want to be where there are entertainment options or near peaceful getaways.
As a landlord or a property owner, you need to know which neighborhoods attract your target demographics in order to properly place them. The right fit is important when choosing tenants to live in your rental property.
Here’s a snapshot of the Seattle neighborhoods, what they are like, and who your prospective tenants could be:
● Bremerton is a city in Kitsap County and is home to Puget Sound Naval Shipyard and the Bremerton Annex of Naval Base Kitsap. While Bainbridge is an island in western Washington state. It is home to Bloedel Reserve and the Bainbridge Island Museum of Art. Both are connected to Seattle by a ferry.
● What is the neighborhood like? The neighborhood is artsy-craftsy with nature surrounding all fronts. It is the closest thing to rural America in a city as bright and booming as Seattle.
● Who lives there? Those who crave country feels without having to stay away from family or jobs in the city. Those who like nature trips and scenic ferry rides.
● Ballard is a hip waterfront neighborhood with trendy restaurants, indie shops, bars and craft breweries centered on historic Ballard Avenue. It is home to the Nordic Heritage Museum and the beachfront Golden Gardens Park with beautiful mountain views.
● What is the neighborhood like?
● Who lives there? This is the place to be for upwardly mobile singles. The trendy shops are a big draw The waterfront and the mountain view gives them the best of both worlds in terms of scenic views.
● This might arguably be the coolest neighborhood in all of Seattle. Capitol Hill is packed with nightlife and entertainment hubs and is home to Volunteer Park and Cal Anderson Park. Coffeehouses populate the area and not just the big brand names, but the prominent locally owned ones, too.
● What is the neighborhood like?
● Who lives there? Hip and trendy millennials as well as most of the LGBT community, many of whom have settled in this neighborhood as early as the 1960s.
● Columbia City is a diverse neighborhood in the southeastern area of Seattle, in the Rainier Valley district. It is home to a landmark-protected historic business district which was added to the National Register of Historic Places in 1980 as the Columbia City Historic District. For people who love festivals and events, the party happens in August during the Rainier Valley Heritage Parade and Summer Streets Party.
● What is the neighborhood like? People walk everywhere and the community is tight-knit and locally oriented. Music festivals and farmer’s markets are commonplace and there is a gaggle of community organizations to join.
● Who lives there? New to Seattle? This is a good place to start. Mid-income families and college grads could easily find homes here.
● Downtown is the central business district of Seattle, Washington and is home to skyscrapers overlooking Elliot Bay, the Central Waterfront with its giant Ferris wheel, and the Seattle Aquarium.
● What is the neighborhood like? Downtown Seattle is compact and easily walkable. Even though it is small, there is no shortage of sights to see with its historical attractions and world-class entertainment.
● Who lives there? Those who are attracted to high-end urban living can make a home in Downtown Seattle.
● The annexed city is situated along the Fremont Cut of the Lake Washington Ship Canal to the north of Queen Anne, the east of Ballard, the south of Phinney Ridge, and the southwest of Wallingford.
● What is the neighborhood like? This bohemian neighborhood is all about indie shops and hipster bars. There is even a gigantic Fremont Troll, lurking under the Aurora Bridge. This is the main technohub where tech giants such as Google have chosen to build their mothership/HQ.
● Who lives there? This area attracts tech workers who want to live closer to work. As such, an eclectic selection of eateries and commercial spaces are available here.
● This is home to Asian-American communities with three distinct neighborhoods: Chinatown, Japantown, and Little Saigon. It is known for its ethnic Asian businesses and landmarks.
● What is the neighborhood like? It is the central hub for Asian culture. It is mainly a mix of people with Chinese, Vietnamese, Filipino, Japanese, Korean, Indian, and Taiwanese ancestry.
● Who lives there? People who are of Asian ancestry or those who are attracted to Asian festivals and Asian culture.
● What was once the heart of Seattle, Pioneer Square is located in the southwest corner of Downtown, Seattle. It gets its name from a small triangular plaza near the corner of First Avenue and Yesler Way, originally known as Pioneer Place. It is populated with late-1800s Romanesque Revival buildings, hip bars, art galleries, and coffee shops. It is home to Waterfall Garden Park and Occidental Square.
● What is the neighborhood like? It is an up and coming place eyed by a number of real estate developers. New apartments and condominiums are to be built in the next few years as it is a good alternative for the higher priced downtown area.
● Who lives there? Upwardly mobile singles and couples who like Renaissance Revival architecture and historic neighborhoods.
● Queen Anne is in the more affluent part of the neighborhood, northwest of Downtown Seattle. It sits dab smack on the highest named hill in the city. It is home to the iconic Space Needle, with its observation deck, plus the Museum of Pop Culture and Chihuly Garden and Glass.
● What is the neighborhood like? This neighborhood is very diverse and draws everyone because of its many offerings. Upwardly mobile tech-savvy workers and well-heeled business people are drawn to the bustling downtown scene, while baby boomers are drawn to the residential aspect.
● Who lives there? Mostly young and single adults populate the area now.
● This is a collective neighborhood comprised of schools and universities named aptly because it is where the University of Washington (UW) is located.
● What is the neighborhood like? It is a relatively self-contained neighborhood with budget-friendly options catering to students and university workers.
● Who lives there? Students enrolled in different universities, first-generation immigrants and mobile singles call this place home.
Davis Property Management has deep roots in the Seattle area and can help you market your property to tenants who could be the perfect fit for your rental property. Schedule a consultation with us today!