Nestled in the foothills of the Cascade Mountains and surrounded by forests and lakes, Issaquah is only 17 miles from Seattle. Encircled by mountains, state parks, and national forests, the area seems purposefully designed for lovers of the outdoors. Practically unlimited green space, winding nature trails, and proximity to the Sammamish River mean you'll never have to search for outdoor activities sure to entertain every member of the family. Yet, there is more to love in Issaquah than the great outdoors. The city is also home to delectable restaurants, a vibrant downtown, and cultural attractions, such as The Village Theatre.
With so many things to love about this eclectic city, it's no surprise that Issaquah's housing market is so competitive. Yet, the cost of living in Issaquah is a concern for many potential home buyers. If you hope to call Issaquah home but worry about the costs involved, this guide will help you get a clear understanding of whether you can afford to live in this popular Washington city.
The Cost of Housing in Issaquah
Unfortunately, the most sought-after neighborhoods, cities, and suburbs in Washington have quite a reputation for high living costs. Washington is among America's most expensive states to live in, and Issaquah is ranked number seven of the 10 most expensive places to live in Washington state. Let's take a look at what the cost of living in Issaquah means in terms of housing.
The median price for a single-family home in King County is $910,000. While the average is down 9% from last year, it's still higher than the state average of $595,732. Condos and townhouses in the city offer more affordable options for buyers not set on the idea of a detached single-family residence.
Although interest rates are rising nationwide, there are programs that can help new home buyers afford the cost of a home. Many buyers qualify for first-time buyer programs even if they've owned a home in the past. Government-backed mortgage loans allow you to put down a lower down payment and often have interest rates notably lower than the national average. Such options can help you overcome barriers to finding your ideal home in Issaquah.
Average Utility Costs Balance the Costs of Home Ownership
The average cost of electricity in Issaquah is about $153 per month, based on the median price of 13 cents per kilowatt-hour and average electricity use in the city. Additional utility costs include water and sewer costs, which are based on how many gallons of water you use each month.
Utility costs, including electricity, water and sewer, natural gas, and streaming services, depend on many factors, including usage rates. Homeowners can save on these costs with quality home features, such as energy-efficient appliances, modern plumbing systems, and adequate insulation.
Food Costs in Issaquah
The cost of groceries in Issaquah is slightly higher than the national average at $3,627 annually for a single adult, which is a little more than $300 a month. You can expect to pay around $4.85 for a loaf of bread, $3.04 for a gallon of milk, $6.42 for a hamburger, and $2.81 for a carton of eggs.
No matter your lifestyle, eating out should always be an option. Issaquah presents residents with a range of dining options for every palate and budget. Local restaurants with tasty and affordable dishes range from national chains to unique hidden gems. Popular options include BB's Teriyaki Grill, Taqueria La Venadita, and Pizza Twist. There are also many fine dining options and luxury restaurants in the city for special occasions or must-have favorites.
Getting Around
As part of the Seattle metro area, you can expect commuting to rank high on the list of potential concerns in Issaquah. For most people in the city, the commute to work is longer than 30 minutes. Public transit options are available to take residents to downtown Seattle, Bellevue, University District, Northgate, Overlake, and Sammamish. If you drive your own vehicle, you can expect to pay around $4.20/gallon for gas. Overall, public transit and gas costs are about 23% more than the national average. However, the city is very walkable and bikeable, which can help cut transportation costs.
Additional Factors That Affect Your Cost of Living in Issaquah
Like other cities across the country, nationwide inflation is contributing to the rising cost of living in Issaquah. Housing, food, and transportation are responsible for the biggest increases. However, certain benefits of living in Issaquah that aren't available in other states can soften the blow of high costs. For example, the federal minimum wage is $7.25 per hour, while Washington state's minimum wage is $15.74 per hour. Additionally, Washington has no state income tax, which means your take-home pay is higher than in many other states. The cost of healthcare in Issaquah, Washington, is also 18.1% lower than the national average. These perks help to create an affordable budget for the overall cost of living.
Average Salary in Issaquah
At first glance, the cost of living in Issaquah can seem intimidating. Yet, it doesn't necessarily mean you can't afford to live there. Issaquah is home to a strong economy and an active job market with a variety of occupations for residents to choose from. Major employers include recognizable names such as Microsoft, Costco, and Boeing. The job market shows no signs of slowing down. It increased by 2.6% over the last year, and projected job growth over the next 10 years is 45%.
The average individual income is $68,504, which is notably higher than the national average of $57,200. Many residents in the area find their salaries accommodate the lifestyle they seek in Issaquah's most desirable neighborhoods.
Seeking a Home in Issaquah?
While it's true that the cost of living in Issaquah is higher than the national average, it's not out of reach for many prospective home buyers. Many individuals seek residences in Issaquah to take advantage of the growing job market and exceptional quality of living. If you've been researching homes for sale in Issaquah, it likely comes as no surprise that the housing market is competitive. To navigate such a complex market, you need a partner with extensive knowledge about the local market and changing trends. If you're ready to make the move to Issaquah, the passionate and experienced real estate agents at Frontyard Real Estate can help. Get in touch to learn more about the homes in Issaquah's most enticing neighborhoods.
*Header photo courtesy of John Stone
