Central Business District median real estate price is $1,080,467, which is more expensive than 84.6% of the neighborhoods in Washington and 91.7% of the neighborhoods in the U.S.
The average rental price in Central Business District is currently $4,209, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 93.2% of the neighborhoods in Washington.
Central Business District is a densely urban neighborhood (based on population density) located in Seattle, Washington. This is a coastal neighborhood (i.e., is on the ocean, a bay, or inlet).
Central Business District real estate is primarily made up of small (studio to two bedroom) apartment complexes/high-rise apartments. Most of the residential real estate is renter occupied. Many of the residences in the Central Business District neighborhood are newer, built in 2000 or more recently. A number of residences were also built before 1940.
Central Business District has a 12.6% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 71.3% of American neighborhoods). Most vacant housing here is vacant year round. This could either signal that there is a weak demand for real estate in the neighborhood or that large amount of new housing has been built and not yet occupied. Either way, if you live here, you may find many of the homes or apartments are empty.
The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.
Real Estate
Central Business District is a neighborhood that is on the ocean, a bay, or inlet. Many times, such places have amenities that bring locals and visitors to the waterfront for recreational activities or to check out the scenery. In some densely populated areas that are less financially well-off, the neighborhood waterfront can be relatively industrial and less open to recreation. In addition to being coastal, Central Business District is a very nautical neighborhood, meaning that it is somewhat historic, walkable, densely populated and on the water. This gives the neighborhood a very nautical feel, with some seaside and shipping feel, which some may really enjoy the sights and sounds of.
In addition, the real estate in the Central Business District neighborhood really stands out in the way it looks for a unique reason: this neighborhood has a higher proportion of apartment complexes or high-rise apartments than nearly every neighborhood in the country. Most neighborhoods are a mixture of real estate and housing types, but here it is almost entirely dominated by big apartment buildings and complexes. In fact, 100.0% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 99.9% of American neighborhoods.
Furthermore, the Central Business District neighborhood is very unique in that it has one of the highest proportions of one, two, or no bedroom real estate of any neighborhood in America. Most neighborhoods have a mixture of home or apartment sizes from small to large, but here the concentration of studios and other small living spaces is at near-record heights. With 100.0% of the real estate here of this small size, this most assuredly is a notable feature that makes this neighborhood unique, along with just a handful of other neighborhoods in the U.S. that share this characteristic.
Also of note, 88.5% of the real estate in the Central Business District neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America.
Finally, if you like the look and ambience of new homes and newly built neighborhoods, you will love the Central Business District neighborhood. A whopping 66.1% of the homes and other residential real estate here were built after 1999, which is a higher proportion of new homes then you will find in 95.0% of the neighborhoods in the U.S. Everything here just feels new.
People
Of note is NeighborhoodScout's research finding that the Central Business District neighborhood has some of the lowest rates of children living in poverty of any neighborhood in the United States. In a nation where approximately 1 in 4 children are living in poverty, the Central Business District community truly stands out from the rest in this regard.
In addition, of particular note, 2.9% of the people in the Central Business District neighborhood currently reside in a correction facility, held due to punishment for a crime.
Modes of Transportation
More people ride the bus in this neighborhood each day to get to work than 99.2% of U.S. neighborhoods.
Also, more people in Central Business District choose to walk to work each day (23.1%) than almost any neighborhood in America. If you are attracted to the idea of being able to walk to work, this neighborhood could be a good choice.
Finally, a unique way of commuting is simply not to. And in the Central Business District neighborhood, analysis shows that 29.5% of the residents work from home, avoiding a commute altogether. This may not seem like a large number, but it is a higher proportion of people working from home than is found in 96.6% of the neighborhoods in the United States. One thing NeighborhoodScout's research reveals is that the wealthier and/or more isolated the neighborhood, the greater the proportion of residents who choose to work from home.
Car Ownership
Most American households own a car or other vehicle. Many own two cars or perhaps three. In the United States, it is useful to have an automobile not only for commuting, but also for shopping and getting to other services one needs. But NeighborhoodScout's analysis revealed that households in the Central Business District neighborhood have a highly unusual car ownership. 53.8% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 98.9% of U.S. neighborhoods.
Migration / Stability
Do you like to be surrounded by people from all over the country or world, with different perspectives and life experiences? Or do you instead prefer to be in a neighborhood where most residents have lived there for a long time, creating a sense of cohesiveness? NeighborhoodScout's analysis reveals that this neighborhood stands out among American neighborhoods for the uniqueness of the mobility of its residents. In the Central Business District neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 99.0% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.
Diversity
Did you know that the Central Business District neighborhood has more Romanian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 2.2% of this neighborhood's residents have Romanian ancestry.
Central Business District is also pretty special linguistically. Significantly, 1.0% of its residents five years old and above primarily speak Native American languages at home. While this may seem like a small percentage, it is higher than 97.5% of the neighborhoods in America.
How wealthy a neighborhood is, from very wealthy, to middle income, to low income is very formative with regard to the personality and character of a neighborhood. Equally important is the rate of people, particularly children, who live below the federal poverty line. In some wealthy gated communities, the areas immediately surrounding can have high rates of childhood poverty, which indicates other social issues. NeighborhoodScout's analysis reveals both aspects of income and poverty for this neighborhood.
The neighbors in the Central Business District neighborhood in Seattle are wealthy, making it among the 15% highest income neighborhoods in America. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 87.0% of the neighborhoods in America. In addition, 0.0% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 100.0% of America's neighborhoods.
A neighborhood is far different if it is dominated by enlisted military personnel rather than people who earn their living by farming. It is also different if most of the neighbors are clerical support or managers. What is wonderful is the sheer diversity of neighborhoods, allowing you to find the type that fits your lifestyle and aspirations.
In the Central Business District neighborhood, 63.3% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 25.2% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (8.4%), and 3.0% in manufacturing and laborer occupations.
Languages
The languages spoken by people in this neighborhood are diverse. These are tabulated as the languages people preferentially speak when they are at home with their families. The most common language spoken in the Central Business District neighborhood is English, spoken by 76.8% of households. Other important languages spoken here include Spanish, French, Chinese and Korean.
Ethnicity / Ancestry
Boston's Beacon Hill blue-blood streets, Brooklyn's Orthodox Jewish enclaves, Los Angeles' Persian neighborhoods. Each has its own culture derived primarily from the ancestries and culture of the residents who call these neighborhoods home. Likewise, each neighborhood in America has its own culture – some more unique than others – based on lifestyle, occupations, the types of households – and importantly – on the ethnicities and ancestries of the people who live in the neighborhood. Understanding where people came from, who their grandparents or great-grandparents were, can help you understand how a neighborhood is today.
In the Central Business District neighborhood in Seattle, WA, residents most commonly identify their ethnicity or ancestry as Asian (21.4%). There are also a number of people of German ancestry (12.3%), and residents who report English roots (9.8%), and some of the residents are also of Sub-Saharan African ancestry (5.3%), along with some Irish ancestry residents (4.8%), among others. In addition, 28.9% of the residents of this neighborhood were born in another country.
Even if your neighborhood is walkable, you may still have to drive to your place of work. Some neighborhoods are located where many can get to work in just a few minutes, while others are located such that most residents have a long and arduous commute. The greatest number of commuters in Central Business District neighborhood spend under 15 minutes commuting one-way to work (33.1% of working residents), one of the shortest commutes across America.
Here most residents (24.1%) ride the bus to get to work. In addition, quite a number also hop out the door and walk to work to get to work (23.1%) and 15.5% of residents also drive alone in a private automobile for their daily commute. The bus provides a valuable service in the Central Business District neighborhood of Seattle by getting a lot of residents to and from work daily, reducing the costs of commuting and reducing some congestion on the roads as well.
