Seattle's Unaffordable Housing Prices Leave Homeownership Out of Reach for Many

KIRO Newsradio hosts discuss the stark decline in homeownership among young couples in the city

Published on Feb. 22, 2026

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While the U.S. housing market is facing historic unaffordability, the situation in Seattle is particularly dire. KIRO Newsradio hosts Jake Skorheim and Spike O'Neill discuss how skyrocketing home prices and interest rates have made it nearly impossible for many young couples to purchase their first home in the city, with the percentage of 30-year-olds who are married and own a home plummeting from 52% in 1960 to just 12% in 2025.

Why it matters

The steep decline in homeownership among young couples in Seattle reflects the growing affordability crisis in the city, which has major implications for the local economy, community, and quality of life. As home prices continue to soar, an entire generation is being priced out of the market, with far-reaching consequences.

The details

According to the hosts, the average price of a home in Seattle has skyrocketed from around $450,000 in 2012 to well over $400,000 today. Meanwhile, the average monthly mortgage payment has nearly doubled, from $1,500 in 2021 to $3,000 currently, due to rising interest rates. This has made it increasingly difficult for first-time homebuyers, especially young couples, to afford a home in the city.

  • In 2012, the average home price in Seattle was around $450,000.
  • In 2021, the average monthly mortgage payment was $1,500.
  • In 2025, only 12% of 30-year-old married couples owned a home, down from 52% in 1960.

The players

Jake Skorheim

Co-host of 'The Jake and Spike Show' on KIRO Newsradio.

Spike O'Neill

Co-host of 'The Jake and Spike Show' on KIRO Newsradio.

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What they’re saying

“The U.S. housing market right now is the most unaffordable in history. I do feel like there is going to be a housing market correction sometime in the near future.”

— Jake Skorheim, Co-host (KIRO Newsradio)

“This is crazy. In 1960, 52% of people were married and owned a home by 30, but in 2025, that percentage had fallen to only 12%.”

— Jake Skorheim, Co-host (KIRO Newsradio)

“I think there are a couple of factors at play here. If you raise that number to 40, married and owning a home, it's different, because I think people don't get married as early as they used to.”

— Spike O'Neill, Co-host (KIRO Newsradio)

What’s next

The hosts suggest that a housing market correction may be on the horizon, which could potentially improve affordability for first-time homebuyers in Seattle. However, the long-term trend of declining homeownership among young couples remains a significant concern that will require policy interventions and creative solutions to address.

The takeaway

The staggering decline in homeownership among young couples in Seattle underscores the severity of the city's housing affordability crisis. As home prices and interest rates continue to rise, an entire generation is being priced out of the market, with far-reaching consequences for the local community and economy. Addressing this issue will require a multifaceted approach to increase the supply of affordable housing and support first-time homebuyers.