Written by: Ashley Durmo
Introduction
Seattle, WA, known for its iconic Space Needle, tech-driven economy, and natural beauty, continues to attract a steady stream of tourists and business travelers. As the demand for short-term rentals remains strong, understanding the top-performing zip codes can help maximize your investment returns. Here’s a detailed analysis of each area, focusing on gross yields, annual revenues, Zillow home values, and neighborhood characteristics.
98121: Belltown & Denny Triangle
- Gross Yield: 8%
- Annual Revenue: $49,067
- Zillow Home Value: $592.5K
Zip code 98121 covers Belltown and parts of Denny Triangle, two of Seattle’s most vibrant urban neighborhoods. With a gross yield of 8% and annual revenue of $49,067, this area is ideal for investors looking for steady returns in a bustling city environment. Zillow home values average $592.5K, reflecting the desirability of this prime downtown location. Attractions like the Seattle Waterfront, Pike Place Market, and an abundance of restaurants and nightlife make Belltown a top choice for tourists, ensuring high occupancy rates year-round.
98101: Downtown Seattle & Pike Place Market
- Gross Yield: 7%
- Annual Revenue: $43,948
- Zillow Home Value: $613.7K
This zip code encompasses the heart of Downtown Seattle, including the famous Pike Place Market and financial district. With a gross yield of 7% and annual revenue of $43,948, it offers excellent income potential in one of Seattle’s busiest areas. Zillow home values are higher, averaging $613.7K, but the consistent flow of tourists and business travelers provides strong rental demand. The proximity to major attractions, convention centers, and waterfront views make this area highly desirable for short-term rental guests.
98102: Eastlake & Capitol Hill
- Gross Yield: 6%
- Annual Revenue: $39,478
- Zillow Home Value: $710.7K
Zip code 98102 includes Eastlake and parts of Capitol Hill, neighborhoods known for their eclectic vibe, coffee culture, and views of Lake Union. The gross yield is 6%, with an annual revenue of $39,478, suggesting a reliable, albeit slightly lower, income stream. Zillow home values are $710.7K, reflecting the upscale nature of these neighborhoods. Capitol Hill’s vibrant nightlife, unique eateries, and cultural attractions, combined with Eastlake’s waterfront activities, draw a diverse group of short-term renters.
