A recent Construction Coverage study finds that the median home age in Seattle is 37 years old, built around the late 1980s. That's older than every fast-growing metro we compete with for workers and families: Austin (19), Raleigh (22), Charlotte (26), Phoenix (29), Denver (35), Salt Lake City (35). Meanwhile, Seattle's population grew 25% from 2010 to 2020. More people, fewer new homes per person, and older housing stock every year. Old housing isn't just expensive to maintain — it's housing we can't add to, and every year the gap between what we have and what we need widens.

A Fox 13 story covering the study tells us what's happening. It doesn't get into why — or what to do. So, let's tackle both.

Why are Seattle's homes older than homes in fast-growing peer cities?

It isn't geography or demand. Austin builds in a tough climate. Phoenix keeps building despite water problems. The difference is what we've allowed to be built.

Seattle has stacked decades of choices that made it harder, slower, and more expensive to build:

• Zoning that locked the map in place. Most of Seattle's residential land has been reserved for one detached house per lot. You can't refresh the housing stock that way.
• Permits that take longer than projects can wait. An 18-to-36-month permit timeline means projects get shelved when interest rates move. Slow permits are a downzone.
• Fees stacked on fees. Impact fees, affordability charges, and review fees pile up. Every $1,000 added to the cost of a home prices more families out.
• Decisions made case by case. Design review, environmental appeals, and judgment calls add risk that builders price in or walk away from.
• Rules that make lots unbuildable. Tree codes, critical-area buffers, and undergrounding requirements can take a small infill project from possible to impossible.

This shows up in real bills. According to the Construction Coverage study's analysis of U.S. Census Bureau data, pre-1940 homes cost about 10 times as much in routine maintenance as new ones — roughly $1,615 a year vs. $164 — and are nearly 30 times more likely to be in inadequate condition.

What can we do about it?

Aging housing is a policy outcome. It can be a different one.

MBAKS uses a simple test we call the Housing Policy Filter. Before adopting any code change, fee, or process, ask: does it reduce buildable land, add complexity or uncertainty, diminish property rights, or increase costs to construct?

If yes to any of those, fewer homes get built.

The Filter in practice:

• Put HB 1110 to work. The new middle-housing zoning lands faster when local rules are clear, approvals are by-right, and permit timelines are met.
• Trade judgment calls for clear rules. Predictable, objective standards produce more housing than case-by-case review.
• Speed up permits. Defined, predictable timelines and resources at the bottleneck keep projects moving.
• Right-size fees. Audit what each fee funds — and the homes it prevents.
• Fix the small-lot rules. Tune tree codes, setbacks, buffers, and road widths to the housing we need now.

Austin and Raleigh and Charlotte didn't end up with new housing stock by accident. Seattle didn't end up with old housing stock by accident, either. The difference is what each place chooses to allow.

More homes. Better outcomes. That's the test.

View the MBAKS Barriers and Solutions guide. Questions? policy@mbaks.com.

Washington state and the Puget Sound region are experiencing a significant housing supply shortage. The latest numbers from the Northwest Multiple Listing Service show that we have less than a two-week supply of homes for sale in King and Snohomish counties. For perspective, many industry analysts consider a four-to-six-month supply as an indicator of a healthy market.

The Puget Sound Regional Council has said in their Housing Needs Assessment that our four-county Puget Sound region needs 800,000 new homes by 2050 to meet the future need. For King County alone, the Regional Affordability Task Force has reported a total of 244,000 net new homes are needed by 2040 to meet demand. At this point we are already starting several hundreds of thousands of homes behind.

Why does this matter?
Limited housing supply increases the costs of homes, which makes becoming a homeowner out of reach for more community members.

According to the Northwest Multiple Listing Service January data, the median price for single-family homes in King County rose 9.46%, from $740,000 a year ago to $810,000. In Snohomish County, the median price rose 22.06%, from $573,495 to $700,000.

What created this housing supply shortage?
There are several factors that contribute to the housing supply shortage in our region and hinders our industry’s ability to add more affordable housing choices. These factors include:

• Inflation driving up the costs of building materials 

• Limited land supply on which to build

• Local development regulations not aligned with meeting the urgent need for more housing

• Permit delays

• Persistent labor shortages making is challenging to keep projects on schedule

• Supply chain disruptions

Additionally, King County is experiencing a shortage of concrete due to a nearly three-month long strike across numerous local concrete companies. Most American home foundations are concrete, along with other integral outdoor features such as pathways, stairs, and sidewalks. The inability to get concrete to builders’ jobsites is inhibiting their ability to meet the demand for additional housing.

Where does MBAKS fit into this?
Driven by our mission, MBAKS is committed to ensuring all people can attain housing. One way we do this is through our advocacy work. Our government affairs team is dedicated to making sure our members have a voice in policy and regulatory debates that directly impact the housing industry. Only through our direct participation in this dialogue can we hope to create a better climate for housing.

Contact: data@mbaks.com

While home prices are falling month-over-month, they are still higher than where they were a year prior. In King County, single-family median home prices are up 12.22% from November 2021, and in Snohomish County they are up 5%.

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