Posted by: The Tim

Tim Ellis is the founder of Seattle Bubble. His background in engineering and computer / internet technology, a fondness of data-based analysis of problems, and an addiction to spreadsheets all influence his perspective on the Seattle-area real estate market.

5 responses to “Seattle Cheaper Than Most Other Tech Cities”

  1. Anonymous

    Ah, but is it cheaper than Bangalore?

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  2. flak

    sorry – only just tuned in here, so perhaps you’ve dealt with this elsewhere. Shouldn’t you be talking about median household income, rather than median income?

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  3. texasdiver

    I guess Austin isn’t a “tech city?” Prices in Austin are half that of Seattle.

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  4. texasdiver

    How do you get a $1500 monthly mortgage payment on a $300,000 house? OK, the loan is actually $240,000 but taxes and insurance are going to bring that mortgage payment into the $2000 zone easily.

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  5. The Tim

    flak,

    If you read the source story in the Seattle P-I that I got my $45,000 from, that is “real median household income.” Though I just realized that I grabbed the national #, not the King County #. Whoops. I’ll probably correct my post later.

    Using the King County income of $55,000, the mortgage payment alone comes in at 33% of the pre-tax income. Of course, as texasdiver points out, that fails to take into account insurance and taxes, which would amount to an additional $250-$400 a month, bringing the total monthly amount required for housing up to the 40% range.

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