Thursday, September 29, 2016

Washington's Hottest Zip Codes

How does an investor find the best areas within which to market for residential properties to purchase?

The areas of Washington with the greatest numbers of real estate transactions are in the zip codes of 98387 (Spanaway), 98391 (Bonney Lake), 98012 (Mill Creek/North Creek), and 98258 (Lake Stevens).

98258 had 110 sales transactions through the NWMLS in the past 30 days, with a median home price of $335,000; 98012 had 177 with a $490,000 median price; 98391 had 113  with $319,950 median price; and 98387 had 117 with $240,000 median price.

Let's take a look at these communities.

1-     Lake Stevens 98258
The City of Lake Stevens is dedicated to improving, and diversifying the Lake Stevens economic and business climate. The city goal is to support a lively, active city where people can live, work and play.

Attention investors:
In 2010, the Lake Stevens City Council developed an Economic Development Strategy to create a “Road Map” for improving the city’s fiscal condition. The City has determined that there are opportunities for economic growth and enhancing the community character for residents and visitors.

2-     Bonney Lake 98391
The economic development activities of the city are to strengthen the Bonney Lake economy, create a more business-friendly environment, and add commercial amenities for residents and visitors to enjoy. 

Most of the economic activity in Bonney Lake is located along the State Route 410 corridor.

3-     Spanaway 98387
The City supports manufacturers such as Boeing, Milgard Manufacturing, James Hardie Building Products, Toray Composites (America), Inc. and Medallion Foods. The city works continuously to improve the business environment so companies thrive here. 

Recreational Equipment, Inc. (REI), Whirlpool, and Costco have major distribution centers here. State Farm Insurance has a regional headquarters in Pierce County, and innovation thrives at growing firms like the Hanger Clinic, Revalesio, and Heli Trak. 

Pierce County has a large supply of vacant industrial land, much of it with rail access and other infrastructure already in place. With their affordable utilities and skilled workforce, the business can grow here for years to come. 

4-     Mill Creek/ North Creek

Its housing stock is still largely comprised of single family homes on cul-de-sacs and curvilinear streets, but the City recently developed a new town center, is pursuing further commercial development, and has seen the share of multifamily housing grow. At the same time, City residents still benefit from abundant open space and natural beauty. While there is sufficient room within the City limits to accommodate the growth it anticipates over the next 20 years, further action may be necessary to ensure that types of housing will be available to support all segments of the population as it changes. Currently 39% of Mill Creek households are estimated to be cost burdened, meaning they spend more than 30% of their monthly income on rent or home ownership costs. Cost burden is most challenging for those with low incomes, who may have to sacrifice other essential needs in order to afford housing. While most of the City’s households enjoy generally higher incomes than other areas in the County, 24% earn less than 50% AMI and are defined as extremely low or very low income.

For a list of properties available for sale in any of these communities, please contact or, or leave a message on the recorded hotline at 888-621-4999. 

Happy Investing!

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