Our own little Lake Forest Park made the list. Washington’s suburbs once offered more affordable housing options for the thousands of Amazon, Microsoft, Boeing, and tech boom employees priced out of Seattle. Today, however, high real estate prices have extended into the suburbs.
In just 4 years this $700,000 three bed, one and three-fourths bath, 1,500-square-foot bungalow, located 15 miles north of Seattle made an appreciable 62 percent jump.
Homeownership is a hallmark of the American dream, but there’s a problem brewing underneath the surface of the real estate market. The calculus of median American income to median American home price is severely off-kilter and the path to homeownership is looking increasingly bleak. Analysts suspect the housing market is headed towards a slow crawl, and in certain parts of the country, outrageous home prices have all but priced out the majority of earners.
Bankrate took a deep dive and compiled homes coast to coast in traditionally expensive and burgeoning markets. Here’s are some of the eye-popping price tags we found: