Seattle, known for its thriving tech hub in South Lake Union, is on the verge of a major milestone: reaching a population of 800,000. According to recent estimates from the Washington State Office of Financial Management (OFM), Seattle’s population stands at 797,700 as of April 2024. With such strong growth, the city is expected to comfortably surpass the 800,000 mark by April 2025, potentially overtaking San Francisco in the process.
The city’s remarkable population growth can be attributed to its appeal and economic vitality, particularly in the tech sector. Over the past two decades, Seattle’s population has grown from 572,587 in 2005 to 797,700 in 2024, representing an increase of over 225,000 residents, or more than 39 percent.
While Seattle leads the state of Washington in population growth, other cities in the region are also experiencing substantial increases. Vancouver, for example, recently surpassed the 200,000 mark for the first time, adding 3,000 residents. Tacoma and Redmond have also seen notable gains, with populations reaching 225,100 and 80,000, respectively. This trend reflects the broader urbanization occurring across the state.
Nonetheless, Seattle faces challenges in its urban development. The real estate industry warns of a potential slowdown in homebuilding, which could hinder the city’s growth momentum. Housing advocates express concerns that Seattle’s growth plan does not prioritize enough housing creation to meet future demands. The city’s once-a-decade growth plan update has been criticized for aiming too low and risking a shortfall in housing availability, according to a report in the Urbanist.
Mayor Bruce Harrell’s draft Seattle Comprehensive Plan, which scales back on ambitious housing proposals, could limit the city’s ability to accommodate future housing needs. The plan sets a target of adding at least 100,000 new homes over the next 20 years, but this may not be enough if Seattle continues to grow at its current pace.
Washington as a whole has experienced impressive population growth, surpassing the eight million mark. Migration has been the primary driver, accounting for 82 percent of the population increase. King County, where Seattle is located, has led the state in population growth, with Seattle contributing more than 60 percent to the surge.
Seattle’s rapid population growth presents both opportunities and challenges. The city has managed to build homes at a faster rate than San Francisco, helping to maintain relatively lower housing prices despite similar tech booms. The median rent in Seattle is $2,166, compared to $3,330 in San Francisco, and the median home price in Seattle is also significantly lower.
As Seattle approaches the milestone of 800,000 residents, it will need to address the challenges posed by housing demand and ensure that its urban development plans align with the city’s growth trajectory.