How will Amazon’s HQ2 locations change the Seattle area housing market?

We explore the impact of Amazon’s decision on the Puget Sound region

After a long competition and months of suspense, local online retail giant Amazon announced the selection of Long Island City, New York and Crystal City, Virginia. The decision by one of Seattle’s top employers to open two large second headquarters naturally has many residents asking what the implications are for our local housing.

Washington State offers unique perks

Our state doesn’t have a state income tax, unlike both of Amazon’s new locations, so employees who have a choice may decide to come to or remain in Seattle.

The cost of housing in HQ2 cities is comparable to Seattle

Furthermore, if future Amazon employees are looking for a deal on a new home, they won’t find it in New York City or the DC Metro Area. Both have equally expensive and competitive housing markets.

AmazonHQ2.jpg

Housing Costs in the HQs

Amazon employees working in Seattle may not find a deal by moving
into one of the two office outposts in the Northeast.

 
Photo credit to Mark Nowlin, The Seattle Times

Photo credit to Mark Nowlin, The Seattle Times

 

Amazon is still growing here

Just because they have two new locations doesn’t mean the pace of growth in Seattle will slow. Amazon has thousands (8,200, to be exact) of job openings in their Seattle offices.

All signs point to this decision having a minimal, if any, impact on the Seattle housing market in the coming years. The local economy is still strong— in fact, we were recently named the third fastest growing economy in the country— meaning that our residents are well insulated from the decisions of any of our region’s biggest employers.

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