Pike Place Market median real estate price is $1,420,404, which is more expensive than 93.6% of the neighborhoods in Washington and 95.7% of the neighborhoods in the U.S.
The average rental price in Pike Place Market is currently $3,618, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 82.8% of the neighborhoods in Washington.
Pike Place Market is a densely urban neighborhood (based on population density) located in Seattle, Washington.
Pike Place Market real estate is primarily made up of small (studio to two bedroom) to large (four, five or more bedroom) apartment complexes/high-rise apartments and small apartment buildings. Most of the residential real estate is renter occupied. Many of the residences in the Pike Place Market neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.
Vacant apartments or homes are a major fact of life in Pike Place Market. The current real estate vacancy rate here is 17.1%. This is higher than the rate of vacancies in 82.3% of all U.S. neighborhoods. In addition, most vacant housing here is vacant year round. This can sometimes be the case in neighborhoods dominated by new construction that is not yet occupied. But often neighborhoods with vacancy rates this high are places that can be plagued by a protracted vacancy problem. If you live here, you may find that a number of buildings in your neighborhood are actually empty.
When you see a neighborhood for the first time, the most important thing is often the way it looks, like its homes and its setting. Some places look the same, but they only reveal their true character after living in them for a while because they contain a unique mix of occupational or cultural groups. This neighborhood is very unique in some important ways, according to NeighborhoodScout's exclusive exploration and analysis.
People
In a nation where 1 out of every 4 children lives in poverty, the Pike Place Market neighborhood stands out as being ranked among the lowest 0.0% of neighborhoods affected by this global issue.
In addition, one of the most interesting things about the Pike Place Market neighborhood is that it has a greater concentration of residents who live alone than most all neighborhoods in America. With 64.5% of the households here made up of people living alone, NeighborhoodScout's research reveals that this is a larger proportion of people living alone than in 99.4% of the neighborhoods in America.
Real Estate
The real estate in the Pike Place Market 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, 97.4% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 99.5% of American neighborhoods.
In addition, the Pike Place Market 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 96.2% 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.
Furthermore, the Pike Place Market neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 48,845 persons per square mile in the neighborhood, it is more packed with people than 98.4% of the nation's neighborhoods.
Occupations
Executives, managers and professionals make up 82.0% of the workforce in the Pike Place Market neighborhood which, according to NeighborhoodScout's exclusive analysis, is a higher proportion of such high-level people than is found in 99.4% of the neighborhoods in America. For this reason, this neighborhood really stands out as unique.
Modes of Transportation
In the Pike Place Market neighborhood, walking to work is a real option for many. In fact, NeighborhoodScout's exclusive research reveals walking to and from work is the chosen way to commute for 22.5% of residents here. This is a higher proportion of walking commuters than we found in 98.5% of American neighborhoods. Get ready to put on your walking shoes if you move here!
Also, more people ride the bus in this neighborhood each day to get to work than 97.5% of U.S. neighborhoods.
Finally, a unique way of commuting is simply not to. And in the Pike Place Market neighborhood, analysis shows that 30.9% 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 97.3% 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
We Americans love our cars. Not only are they a necessity for most Americans due to the shape of our neighborhoods and the distances between where we live, work, shop, and go to school, but we also fancy them. As a result, most households in America have one, two, or three cars. But NeighborhoodScout's exclusive analysis shows that the Pike Place Market neighborhood has a highly unusual pattern of car ownership. 33.2% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 97.5% of U.S. neighborhoods.
Diversity
Did you know that the Pike Place Market neighborhood has more Belgian and Asian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 0.9% of this neighborhood's residents have Belgian ancestry and 25.9% have Asian ancestry.
Pike Place Market is also pretty special linguistically. Significantly, 3.7% of its residents five years old and above primarily speak Korean at home. While this may seem like a small percentage, it is higher than 98.2% of the neighborhoods in America.
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 Pike Place Market neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 95.5% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.
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 Pike Place Market neighborhood in Seattle are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 84.3% 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.
The old saying "you are what you eat" is true. But it is also true that you are what you do for a living. The types of occupations your neighbors have shape their character, and together as a group, their collective occupations shape the culture of a place.
In the Pike Place Market neighborhood, 82.0% 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 11.1% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (4.6%), and 2.3% 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 Pike Place Market neighborhood is English, spoken by 71.7% of households. Other important languages spoken here include Chinese, Korean and African languages.
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 Pike Place Market neighborhood in Seattle, WA, residents most commonly identify their ethnicity or ancestry as Asian (25.9%). There are also a number of people of German ancestry (10.4%), and residents who report English roots (8.2%), and some of the residents are also of Irish ancestry (8.0%), along with some Sub-Saharan African ancestry residents (3.5%), among others. In addition, 32.6% of the residents of this neighborhood were born in another country.
How you get to work – car, bus, train or other means – and how much of your day it takes to do so is a large quality of life and financial issue. Especially with gasoline prices rising and expected to continue doing so, the length and means of one's commute can be a financial burden. Some neighborhoods are physically located so that many residents have to drive in their own car, others are set up so many walk to work, or can take a train, bus, or bike. The greatest number of commuters in Pike Place Market neighborhood spend between 15 and 30 minutes commuting one-way to work (47.8% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (26.0%) drive alone in a private automobile to get to work. In addition, quite a number also hop out the door and walk to work to get to work (22.5%) and 15.6% of residents also ride the bus for their daily commute. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.
