Recode is reporting that the median price of a Seattle home listed as apartment in the last 10 years has climbed by an average of $13,500, which is a 10% increase over the same time period in the suburbs of Chicago and Detroit.
The median price in Seattle has increased by more than $9,000 over the past five years.
The city has a long and successful history of building housing.
Over the past decade, Seattle’s population has grown from 9.4 million to 13.6 million, and the city has seen an increase in housing demand, with more than 1.5 million units of new housing added between 2008 and 2021.
In 2021, the city added 7.6 percent more housing units than it did in 2010, the last year for which data was available.
Seattle’s median home price rose by over $8,500 in 2021.
In 2018, the median home value in Seattle was $5.639 million, according to data from Zillow.