Zip Code 98006

Bellevue, WAKing County

Real Estate Market Analysis

Q3 2025 Report
$1,650,000 (mid-2025 estimate)
Median Home Value
~41,000 (2025 est.)
Population
$180,000+
Median Income
A+ (Niche, 2025)
School District Rating

Market Statistics

Property Values

$1,650,000 (mid-2025 estimate)
Median Home Value
$3,800/month (mid-2025 estimate)
Median Rent
$710 (mid-2025)
Price per Sq Ft

Market Performance

Home Appreciation~4.5% year-over-year (2024-2025)
Market VelocityLow inventory, average days on market: 18-22
Foreclosure RateVery low (<0.2%)

Area Information

Area Sizeapprox. 13.7 sq mi
CountyKing
Primary CityBellevue

Housing Profile

Housing Statistics

Total Housing Units~13,500
Owner Occupied~72%
Rental Properties~28%
Vacant Units~3%
New ConstructionSteady infill, luxury townhomes, and single-family homes; limited large-scale new developments due to zoning

Housing Types

Single-family homesTownhomesLuxury condosSome multi-family

Demographics

~41,000 (2025 est.)
Population
42
Median Age
$180,000+
Median Income
~97% (unemployment ~3%)
Employment Rate
72% bachelor’s degree or higher
Education Levels
Predominantly families, high proportion of dual-income households, significant Asian and international community
Family Composition

Education Quality

School District Performance

A+ (Niche, 2025)
District Rating
School DistrictBellevue School District
Test ScoresProficiency rates in core subjects often exceed 90%
Graduation Rates~95%+

Schools in Area

  • Somerset Elementary School
  • Newport Heights Elementary
  • Tyee Middle School
  • International School (ranked #2 in WA)
  • Newport High School

Economic Factors

Employment & Business

Job GrowthStrong, driven by tech and healthcare sectors
Unemployment Rate~3%
Business EnvironmentHighly competitive, tech-driven, affluent consumer base
Commercial ActivityRobust; mix of retail, professional services, and proximity to Bellevue CBD

Major Employers

  • Microsoft
  • Amazon
  • T-Mobile
  • Overlake Hospital
  • Expedia

Infrastructure & Quality of Life

Infrastructure

Transportation Access

  • I-90 and I-405 highways
  • RapidRide and Metro bus lines
  • Proximity to future East Link light rail (opening 2025-2026)

Utilities & Services

  • Puget Sound Energy (electric/gas)
  • City of Bellevue utilities (water/sewer)

Quality of Life

Safety & Environment

Low violent crime, moderate property crime (car prowls, package theft)

Excellent; green spaces, air and water quality high

Healthcare Access

  • Overlake Medical Center
  • Swedish Medical Center
  • Numerous clinics and specialty providers

Development Trends

Planned Developments

  • Luxury townhome clusters
  • Selective infill redevelopment

Infrastructure Projects

  • East Link light rail expansion
  • Road safety and pedestrian improvements

Investment Outlook

Growth Outlook

Stable, with moderate population and price growth; limited land for large-scale new builds

Investment Opportunities

  • Luxury rentals
  • ADU conversions
  • High-end flips

Marketing Intelligence

Target Demographics

  • Tech professionals
  • International buyers (notably Asian)
  • Families seeking top schools
  • Move-up buyers

Competitive Advantages

  • Top-ranked schools
  • Affluent, stable community
  • Proximity to Bellevue CBD and Seattle

Pricing Strategies

Premium pricing justified by school district and amenities; price competitively for quick sales in low-inventory market

Common Objections & Response Strategies

Objection: High home prices and property taxes

Response Strategy:

Emphasize long-term appreciation, top-tier schools, and stable demand

Objection: Limited new construction

Response Strategy:

Highlight quality of existing homes, recent renovations, and potential for custom upgrades

Objection: Competitive, fast-moving market

Response Strategy:

Advise on pre-approval, flexible terms, and readiness to act quickly

Professional Recommendations

1

Emphasize school quality and safety in all marketing

2

Network with relocation specialists and tech employers

3

Leverage international marketing channels

4

Advise buyers on pre-approval and readiness

5

Monitor zoning and transit developments for future opportunities

Competitive Analysis

Comparable Markets

  • 98004 (Downtown Bellevue)
  • 98005 (Wilburton/Bridle Trails)
  • 98008 (East Bellevue)

Market Positioning

Premium family and executive market, top-tier schools, international appeal

Competitive Advantages

  • Best schools in region
  • Quieter, more suburban feel than 98004
  • Larger lots and newer homes than 98008

Price Comparison

98006 is slightly less expensive than 98004 but more expensive than 98008 and 98005

Investment Metrics

~3.5% (luxury single-family rentals)
Cap Rates
~2.5% gross yield
Rental Yields
~36-38
Price-to-Rent
Positive for high-end rentals with large down payments; negative for leveraged entry-level investors
Cash Flow
4-5% annualized (2025-2028)
Appreciation

Buyer Journey Insights

First-Time Buyers

Challenging due to high prices; best suited for dual-income, high-earning households

Move-Up Buyers

Strong demand for larger homes, especially with school-aged children

Downsizers

Limited inventory; some interest in luxury condos/townhomes

Investors

Focus on luxury rentals and long-term appreciation; cash buyers favored

Relocators

Attractive for tech and international transferees seeking schools and amenities

This zip code analysis was generated using comprehensive market data and AI intelligence.

Market conditions change rapidly - consult with local real estate professionals for the most current information.

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