Queen Anne, a picturesque neighbourhood located just north of downtown Seattle, is known for its stunning views of the city skyline, historic homes, and vibrant community. If you’re looking to live in this popular area, it’s essential to understand the income levels that shape its economic landscape. One critical metric for evaluating the affordability and living standards in Queen Anne is the median household income. This article provides an updated insight into Queen Anne’s median income for 2024 and explores the factors that influence it.
What is Median Income?
Median household income is the middle point of income distribution in a region, meaning half of the households earn more, and half earn less. It is a useful measure as it is not skewed by extreme values, unlike average income. Understanding the median income gives a clear picture of the financial well-being of a community and helps in assessing living standards, cost of living, and economic health.
Queen Anne’s Median Income in 2024
As of 2024, the median household income in Queen Anne, Seattle, stands at $118,636. This figure reflects the area’s affluent status compared to the national median, which is significantly lower. Queen Anne’s income levels are well above the national average, highlighting its position as one of Seattle’s desirable neighbourhoods.
The high median income is not surprising, considering the range of amenities and high property values in Queen Anne. The neighbourhood is home to professionals in well-paying industries such as tech, healthcare, and education, which contributes to the above-average income levels.
How Queen Anne Compares to Other Neighbourhoods
While Queen Anne’s median income of $118,636 places it in the upper echelon of Seattle’s neighbourhoods, it is not the wealthiest. For example, Laurelhurst, another affluent Seattle neighbourhood, boasts a median income exceeding $200,000. However, Queen Anne’s income is still significantly higher than many other parts of Seattle, making it a prestigious location for families and professionals.
In comparison to neighbourhoods like Belltown or Capitol Hill, where the median income is closer to $100,000, Queen Anne’s financial demographics further solidify its reputation as an upper-middle-class area.
Factors Influencing Income Levels in Queen Anne
Several factors contribute to Queen Anne’s high median income. The presence of high-paying industries such as technology, healthcare, finance, and education is a major driver. Many professionals working for top companies in downtown Seattle choose to live in Queen Anne due to its proximity, lifestyle, and views.
The housing market also plays a role, as Queen Anne has some of the most expensive real estate in the city. High property values attract residents with higher disposable incomes. The strong demand for homes, both for buying and renting, continues to push up income levels in this area.
Cost of Living in Queen Anne
It’s important to balance income data with the cost of living, especially when considering relocating to Queen Anne. The cost of living here is significantly higher than the national average, driven primarily by housing costs. Renting or buying a home in Queen Anne can take a large chunk of the household income, which is why the median income is so high relative to other parts of Seattle.
Even with a median income of over $118,000, residents still need to budget carefully to maintain a comfortable lifestyle, as housing prices continue to rise.
Is Queen Anne Affordable?
Whether Queen Anne is affordable depends on your income and lifestyle. For those earning at or above the median income, living in Queen Anne can be comfortable, though the cost of housing may require compromises elsewhere. However, for households earning below the median, the neighbourhood might feel more financially challenging.
Those considering a move to Queen Anne should assess their financial situation carefully. Housing costs in particular will likely be the biggest factor in determining whether Queen Anne is a realistic option.
Conclusion
Queen Anne, Seattle, is a vibrant and desirable neighbourhood with a median household income of $118,636 in 2024. This level of income reflects the area’s strong job market, high property values, and affluent residents. While Queen Anne offers a wonderful lifestyle with proximity to the city, its higher cost of living means that it is more accessible to those earning above the median income. As you consider your next steps, understanding these income dynamics is key to making informed decisions about living in Queen Anne.
