Did you know that one in seven households in Washington are spending half or more of their income on housing?
These facts are tough to realize, but its true. According to Harvard’s Joint Center for Housing Studies, land prices in Washington State have gone up 37.7% from 2012 to 2017. In the Seattle/Tacoma Metro area, its even worse at 86%. The Seattle/Tacoma Metro area has seen some explosive growth in the cost of housing in particular. Home prices have risen by almost 82% in real dollars since 2000 in Seattle and by 2/3rds in Tacoma. Almost 1/4th of all homeowners in the Seattle/Tacoma Metro area are burdened (paying over 30%) by housing costs – looking at both renters and owners, it bumps up to almost 1/3 of all households.
This is a huge problem. We all love living in this beautiful state. From the majesty of the Olympic Peninsula to the heights of Mt. Ranier to the farms, ranch land, and beautiful rolling plains of Eastern Washington, there is a reason why we are all here. With each advancing day though, its getting harder and harder to just hold on to that American dream and its getting harder and harder for people to reach that American dream. We’re working to make the Cost of Home something everyone can afford. Will you join us?