House hunting in Seattle this year? Zillow predicts Seattle will have the second hottest overall housing market, right behind growing tech hub Denver, Colorado at number one. To determine the hottest hoods, Zillow looked at home value appreciation, low unemployment rates, and strong income growth. Seattle home appreciation is forecasted to rise 5.4 percent year-over-year in 2016, with an income growth of 1.1 percent and an unemployment rate of 4.5 percent.
Seven Seattle-area neighborhoods stood out for rapid growth in the Zillow research, reports GeekWire. Here’s a quick and dirty rundown.
Northwest Bellevue — 9.2 percent forecasted home value growth.
Who would have thought in the 1960s that little suburban Bellevue would one day be the hottest ticket in town? With amazing public schools, a luxury mall, and everyone’s favorite Cheesecake Factory, it’s no wonder the median home value in Northwest Bellevue is predicted to increase 9.2 percent to $1.15 million year-over-year. Yowza.
University District — 8.3 percent forecasted home value growth.
The University District is a Seattle football fan’s dream. Talk about a college town. Wear your tweed coats and purple face paint with pride in this happening neighborhood. Falafel and Indian food at every turn, you’ll never grow old in this town.
Holly Park — 8.3 percent forecasted home value growth.
With quiet, tree-lined streets, parks, playgrounds and a Neighborhood Campus featuring a public library and community college classrooms, Holly Park was originally designed to house defense workers during WWII.
Olympic Manor — 8.2 percent forecasted home value growth.
Olympic Manor in the Ballard area has all the views you could dream of. Manicured lawns, good schools, family friendly. Who wouldn’t want to raise a family in this beautiful home?
Fremont — 7.9 percent forecasted home value growth.
Fremont is known as the Center of the Universe for its reputation among locals as a magical place that pulls you in by magnetic force. Home to the oldest outdoor street market — the Fremont Sunday Market, a monthly artwalk, the Moisture Festival, HopScotch, Fremont Fair and Solstice Parade, Fremont Outdoor Movies, the annual Zombie Walk, Music in the Sculpture Garden, Family 4th at Gasworks Park, Northwest Lovefest, Fremont Oktoberfest, the Fremont Troll and a Lenin Lighting… Fremont is a weirdo’s paradise.
South Delridge — 7.9 percent forecasted home value growth.
South Delridge is part of vibrant West Seattle. A shopping center next door, eight parks within a 10-minute drive, close proximity to Sea-Tac airport, and a reasonably inexpensive home base for many Boeing employees. This neighborhood is trending upward.
Bryant — 7.7 percent forecasted home value growth.
Bryant is a charming upscale neighborhood between Ravenna and View Ridge. Bryant is mostly residential with just a few businesses dotting the outskirts. It is a quite small area, so home buyers may hit some steep competition.
Happy home hunting in 2016!