As home prices and rents continue to soar faster in the Seattle area than just about anywhere else in the nation, the city has set a new all-time high for housing costs.
The median Seattle single-family home cost $666,500 in June, easily beating out the old record set in February, according to figures released Wednesday by the Northwest Multiple Listing Service. Seattle home prices have risen 15.9 percent just in the past year and an astounding 74 percent in the last five years.
Looking across the broader area, King County set a new home price record for the fifth straight month, clocking in at $573,500 for June. That’s up 14.7 percent from a year ago and 66 percent in the last five years.
The biggest driver of home