North Redmond Ranked as One of the Best Neighborhoods to Buy a Home

Published:
March 26, 2021
Last updated:
February 7, 2022
In This Article

Washington State has plenty of desirable neighborhoods to live in, but what’s ranked as the best? This article will explain.

According to Niche.com, North Redmond is currently one of the best places to buy a house. Here’s what you should know about it.

One of the Best Neighborhoods in WA State for Home Buyers

This year, the neighborhood of North Redmond was ranked as one of the best places in WA State to buy a home. These rankings were compiled by Niche, a company that offers rankings and reviews of schools and neighborhoods across the country. They use both public and proprietary data, along with feedback from actual residents, to determine their rankings.

The best places to buy a house were determined by a variety of factors including home values, the rate of homeownership, property taxes, and other real estate trends. Niche also used data provided by Zillow, the U.S. Census Bureau, and other sources.

All of these criteria were given a certain weight, in order to determine the rankings for best places to live and buy a house in WA State.

Here are four of the most heavily weighted criteria:

  • Home value to income ratio. A lower ratio is considered better, because it indicates a higher level of affordability for home buyers.
  • Public schools grade. The company uses its own “K-12 Overall Grade” for every public school, weighted by the number of students it serves.
  • Monthly housing costs. This is the median monthly housing cost for homeowners in North Redmond, based on U.S. Census Bureau data.
  • Cost of living. This grade was calculated based on the consumer price index and access to affordable housing within each area that was studied.

Based on all of this analysis, they determined that North Redmond is one of the best neighborhoods for home buyers in WA State.

Of course, this is just a data-based analysis of the best places to buy a home. North Redmond might look good on paper, based on these particular criteria. But is it right for you? Here are a few things you should know about this particular neighborhood.

North Redmond at a Glance

Located across Lake Washington, North Redmond is a predominantly middle-class residential neighborhood.

The neighborhood of North Redmond might seem miles away from the bustle of city life. It is a very walkable neighborhood with a small-town feel, according to local residents. North Redmond neighborhood has been experiencing soaring home prices over the last few years.

You’ll need a pretty substantial home-buying budget to buy a house in the North Redmond neighborhood. According to the Realtor.com, the median home sold price in North Redmond is $2.1 million in February 2022. That was an increase of 27.4% from the same month a year before.

Home prices in North Redmond and the areas around it are expected to continue rising through the end of 2022. So if you’re thinking about buying a home in the North Redmond neighborhood, you might consider making your purchase sooner rather than later, to avoid higher housing costs.

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Need a Home Loan?

Do you have questions about home loans? Are you ready to apply for a mortgage to buy a home? If so, Sammamish Mortgage can help. We are a local mortgage company from Bellevue, Washington, serving the entire state, as well as Oregon, Idaho, and Colorado. We offer many mortgage programs to buyers all over the Pacific Northwest and have been doing so since 1992. Contact us today with any questions you have about mortgages.

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