The Seattle metro has gained 22 ‘million-dollar neighborhoods’ since 2014, report says

Rising home values are spreading across the Seattle metropolitan area, according to a new report by real estate group Zillow.

Since 2014, the report says, the United States has gained 246 new “$1 million neighborhoods”—defined as ZIP codes with 10 percent or more homes valued at $1 million or more.

The Seattle metropolitan area, which includes Bellevue and Tacoma, is home to 22 of them. Out of those 22, nine have gained their million-dollar status in the past year.

The area is home to 38 total million-dollar neighborhoods.

The ZIP codes to join the ranks recently include 98103, 98107, and 98117—which include Fremont, Phinney, Ballard, and Crown Hill—and 98144, which includes Leschi, Mount Baker, and North Beacon Hill.

Outside Seattle proper, Issaquah ZIP codes 98027 and 98029 recently became a million-dollar areas, as well.

Most of the growth has concentrated around Seattle, Bellevue, and their immediate surroundings—the only outlier being Pierce County’s Fox Island, which is a million-dollar neighborhood as of 2015.

Zillow notes, “unsurprisingly,” that these ZIP codes tend to be in more expensive neighborhoods. Although these ZIP codes only needed 10 percent of homes worth $1 million or more to qualify, the typical million-dollar ZIP code nationally has a median home value of more than $900,000.

This makes some of the original million-dollar ZIP codes unsurprising, too: Laurelhurst and Magnolia, for example, have had at least 10 percent of homes valued at $1 million or more for quite some time.

See the changes for yourself below.

• See How Million-Dollar ZIP Codes Have Changed Since 2007 [Zillow]