MYNORTHWEST NEWS

Survey: Washingtonians ‘unhappy’ with the lack of affordable housing

Feb 20, 2024, 3:45 PM

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Washington resident are dissatisfied with the lack of quality, affordable housing. (Photo: Getty Images)

(Photo: Getty Images)

Washington residents are more “unhappy” than others in the nation about the price of housing.

In a national survey commissioned by Wells Fargo Bank, only 32 percent of Washington residents were satisfied with the ability to find affordable housing in the state, the rest of the nation averaged 38 percent.

“The responses to… (the) survey were not unexpected,” Tony Timmons, a Wells Fargo spokesperson, told MyNorthwest in an email. “It is well known that the Pacific Northwest is an expensive housing market. The surprise was the results were more optimistic than in other states such as Colorado, Nevada and Utah.”

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Only 29 percent said they were satisfied with the supply of affordable housing choices (quality, availability) in Washington, worse than the 35 percent national average.

“Homes in Washington are expensive,” Timmons said in the email. “However, Washington residents appear to be less concerned with affordable housing relative to some other western states.”

33 percent were satisfied with rent and homeownership prices in Washington vs. 37 percent nationally.

“Washington can always use more affordable housing, especially in the Seattle metro area,” Timmons explained.

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He said Wells Fargo had provided grants to rental-focused nonprofits such as Capitol Hill Housing Foundation/Community Roots Housing and Plymouth Housing. The bank has also provided grants that promote homeownership in Seattle, such as the Housing Development Consortium of Seattle-King County and AfricaTown Community Land Trust.

As of February 2024, the average rent in Seattle is $1,983 per month, according to Apartments.com. It costs about $1,454 per month for a studio, $1,983 for a one-bedroom apartment, and around $2,654 for a two-bedroom apartment.

Zillow reports, the average Seattle home value is $815,858, down 0.5% over the past year and goes to pending in around 26 days.

Bill Kaczaraba is a Digital Content Editor for MyNorthwest.

 

 

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Survey: Washingtonians ‘unhappy’ with the lack of affordable housing