Central Business District median real estate price is $1,047,362, which is more expensive than 84.6% of the neighborhoods in Washington and 91.6% of the neighborhoods in the U.S.
The average rental price in Central Business District is currently $4,227, 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.
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.
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, homes built from 2000 through today make up a higher proportion of the Central Business District neighborhood's real estate landscape than 95.0% of the neighborhoods in America. When you are driving around this neighborhood, you'll notice right away that it is one of the newest built of any, with the smell of fresh paint, and the look of young landscaping nearly everywhere you look. In fact, 66.1% of the residential real estate here is classified as newer.
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, in the Central Business District 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 23.1% of residents here. This is a higher proportion of walking commuters than we found in 98.6% of American neighborhoods. Get ready to put on your walking shoes if you move here!
Finally, in the Central Business District neighborhood, many people's commute means walking from the bedroom to the home office. NeighborhoodScout's analysis found that 29.5% of residents worked from home. This may not seem like a large number, but Scout's research shows that this is a higher percentage of people working from home than 96.6% of the neighborhoods in America. Often people who work from home are engaged in the creative or technological economy, such as is found in areas around Boston, and in Silicon Valley. Other times, people may be engaged in other businesses like trading stocks from home, or running a small beauty salon.
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
Some neighborhoods have more internal cohesiveness than others. While other neighborhoods feel like a collection of strangers who just happen to live near each other. Sometimes this comes down to not only the personalities of the people in a place, but how long people have been together in that neighborhood. NeighborhoodScout's research has revealed some interesting things about the rootedness of people in the Central Business District neighborhood. 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.
What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.
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
Culture is the shared learned behavior of peoples. Undeniably, different ethnicities and ancestries have different cultural traditions, and as a result, neighborhoods with concentrations of residents of one or another ethnicities or ancestries will express those cultures. It is what makes the North End in Boston so fun to visit for the Italian restaurants, bakeries, culture, and charm, and similarly, why people enjoy visiting Chinatown in San Francisco.
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.
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 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.
