What is the rental yield in First Hill, Seattle, Washington?

First Hill, Seattle, Washington has a gross yield of 6.0. That is paired with prices about 4% above Seattle and 71% above Washington, plus a 16.7% decline over the past year. The yield is strong relative to the recent price trend, but the market has softened.

How have home prices changed in First Hill, Seattle, Washington?

Home prices in First Hill, Seattle, Washington are down 16.7% over the past year. Even with that decline, the neighborhood is still priced about 4% above Seattle and 71% above Washington, so it remains above both the city and state benchmarks.

How does First Hill, Seattle, Washington compare with Seattle overall?

First Hill, Seattle, Washington is priced about 4% above Seattle, with gross yield of 6.0 and a Red Flag score of 35. Compared with the city, it shows slightly higher pricing, stronger yield, and very high walkability at 100.

What do walkability and education look like in First Hill, Seattle, Washington?

First Hill, Seattle, Washington has walkability of 100 and education in the 85th percentile. Those are standout numbers for access and school-score positioning, and they sit alongside gross yield of 6.0 and a Red Flag score of 35, with prices down 16.7% over the past year.

Neighborhood

First Hill

Seattle, Washington US

First Hill, Seattle, Washington is a high-yield neighborhood with gross yield of 6.0 and prices about 4% above Seattle and 71% above Washington. Prices fell 16.7% over the past year, while the Red Flag score of 35 indicates a comparatively lower overall risk level. Walkability is 100 and education is in the 85th percentile, making access and school-score positioning notable strengths despite the recent price decline.

AI Summary•Updated May 2026

Area

0.49 mi²

ZIP Code

98104

County

King County

State

Washington

Redfin — median sale & volumeZillow ZORI — asking rentFEMA National Risk Index v1.20OpenStreetMap — POIFBI UCR — state crimeEPA — radon zonesEPA FRS / BTS — hazard screeningUS Census ACS / TIGER 2024

Verified Price · Median Sale

$389,884

YoY-16.7%

Gross Rental Yield

6.0%

Listed rent · ZORI annualized

Red Flag Index

Low

35 / 100

Walkability Score

100

Walker's Paradise

OpenStreetMap POI density · national percentile

Education Score

85 / 100

Excellent · better than 85% of U.S. districts

Pre-pandemic SEDA (2018/19) · district proxy

AI Score

Good

DistrictScore attractiveness · national model

First Hill Property Prices & Rental Yield

Verified Redfin sale data and Zillow ZORI asking rent for First Hill, Seattle.

Unlock the First Hill 12-month price trend

See the full Verified vs Listed price history — free with a DistrictScore account.

Market Economics Snapshot

May 2026

Metric	Value	YoY
Median Sale Price	$389,884	-16.7%
Price / Sq Ft (Verified)	$604/sqft	-4.0%
Asking Rent (Median)	$1,961/mo	-8.2%
Gross Rental Yield	6.0%	—
Liquidity Score	14 / 100	Low
Homes Sold (Period)	20	-28.6%

Is First Hill Safe? Natural-Hazard Risk

FEMA National Risk Index composite across eight hazards, plus inherited Washington crime context.

Red Flag Breakdown

35 / 100

Low Risk

Composite is weighted by expected impact — frequent low-damage hazards (hail, wind) weigh less than flood or wildfire.

Earthquake100Very High

Heat40Moderate

Flood20Low

Wildfire20Low

Tornado20Low

Strong Wind20Low

Hail20Low

Hurricanen/an/a

7/8 hazards scored · FEMA NRI v1.20

Crime (state-level): Washington averaged 27.9 crimes and 3.3 violent per 1,000 residents (-13.0% YoY) in 2024(FBI UCR). Compare the state to the country, not states as a ranking — full Safety & Crime data lives on the state page.

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Tract-level hazard heatmap & parcel detail with Pro

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See all eight FEMA hazard scores — free with a DistrictScore account.

What Stands Out AI Insight

Above-average gross rental yield at 6.0%

Highly walkable neighborhood — score 100/100

Low natural-hazard risk — 35/100 composite

Dense amenities — 375 dining & 47 grocery options nearby

Earthquake risk is Very High (100/100)

Insights are generated from First Hill's live DistrictScore metrics.

First Hill Environment & Safety

Satellite PM2.5 air-quality history, FBI UCR crime trend (Washington-level, the finest official aggregation), EPA radon potential and point-source hazard screening.

Washington Crime Trend

FBI UCR

20132024

All crimes / 1k

Violent / 1k

Year	Crimes / 1k	Violent / 1k	YoY
2024	27.9	3.3	-13.0%
2023	32.5	3.6	-12.5%
2022	37.5	3.8	+11.9%
2021	33.7	3.4	+12.1%
2020	30.3	2.9	+0.9%
2019	30.3	3.0	—

Reported at the state level — the finest official US crime aggregation; First Hill inherits the Washington figures.

Radon Potential

EPA

Zone 3

Zone 3 — Lowest potential · First Hill

EPA radon zones estimate indoor radon potential county-wide (Zone 1 highest, Zone 3 lowest). Testing is recommended in all zones.

Environmental Hazards

EPA / BTS

Superfund (NPL)3.1 kmModerate

Industrial odor3 nearbyVery High

Aviation noise50 dBVery Low

Point-source screening near First Hill: EPA Superfund National Priorities List & Facility Registry (2026), BTS aviation noise (2020, 24-hour average level). Superfund shows distance to the nearest listed site; odor shows detected sources within the screening radius. Only detected sources are listed; the bar shows severity vs. all U.S. neighborhoods.

Walkability & Amenities in First Hill

Amenity density and pedestrian access from OpenStreetMap points of interest.

Walkability & Amenities

OpenStreetMap POI

100

Walker's Paradise

Walkability Score

47

Grocery

375

Dining

9

Schools

3

Universities

15

Hospitals

7

Pharmacies

33

Parks

31

Rail Transit

1

Coworking

POI counts are amenities within First Hill's boundary plus a 400 m walk buffer. Rail transit excludes bus stops.

First Hill vs Seattle vs Washington

How First Hill benchmarks against its city and state medians.

Benchmark vs City & State

Across First Hill, the median sale price sits about 4% above the median for Seattle neighborhoods and about 71% above the statewide median. Gross rental yield is 6.0%, against 2.8% for Seattle neighborhoods and 4.0% statewide. Over the past 12 months, prices fell 16.7%. Transaction liquidity sits below the median for Seattle neighborhoods and below the statewide median.

Area	Median / Sq Ft	Gross Yield	Liquidity
First Hill	$604/sqft	6.0%	14
Seattle	$578/sqft	2.8%	34
Washington	$352/sqft	4.0%	32

Unlock the First Hill benchmark

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Buying Property in the US as a Foreigner

Federal & Washington tax facts for non-resident buyers, plus the latest local market news.

Buying as a Foreigner

US Tax & Ownership

Applies to everyone7

Capital Gains (Federal)

Long-term capital gains taxed federally at 0/15/20%, plus a 3.8% Net Investment Income Tax on higher incomes (2026).

Property Tax

Property tax: ~0.74% average effective rate (statewide average; set and collected locally).

State Income Tax

No state income tax — rental income is not taxed at the state level.

State Capital Gains

No general income tax; the 7% capital gains tax exempts real estate.

Transfer Tax

Real estate transfer tax: REET graduated 1.1-3% (mansion-style).

Assessment Cap

No Proposition 13-style assessment cap; property is reassessed at market value.

Mansion Tax / Rent Control

Statewide rent control caps rent increases (HB 1217; 9.683% max for 2026); transfer tax is mansion-style.

US citizens & tax residents6

Primary-Home Exclusion

Selling your main home: exclude up to $250k of gain (single) / $500k (married) if you owned and lived there 2 of the last 5 years.

1031 Like-Kind Exchange

A 1031 like-kind exchange defers capital gains tax on investment property; 45 days to identify, 180 to close. Real estate only.

Depreciation Recapture

Residential rentals depreciate over 27.5 years; on sale, recaptured depreciation is taxed up to 25% (Section 1250).

Mortgage Interest Deduction

Mortgage interest is deductible on up to $750k of home debt. The SALT cap rose to $40,000 for 2025-2029 (reverts to $10k in 2030).

Opportunity Zones

Opportunity Zones are now permanent (2025): reinvested capital gains get deferral plus a basis step-up, and are tax-free after 10 years.

Rental Income (Resident)

Rental income is reported on Schedule E; passive-loss rules (Section 469) limit deducting rental losses against other income.

Foreign buyers (non-residents)5

FIRPTA (Foreign Sellers)

FIRPTA: the buyer withholds 15% of the gross sale price when a nonresident sells US property. It is an advance deposit, not the final tax.

Non-Resident Capital Gains

Nonresident sellers pay US capital gains tax (generally 15-20%) on the net gain via Form 1040-NR; FIRPTA withholding is credited.

Non-Resident Rental Tax

Nonresident rental income is taxed at 30% of gross by default, or on net income at graduated rates via a Section 871(d) election (W-8ECI).

Estate Tax (Non-Resident)

Nonresidents get only a $60,000 US estate-tax exemption (vs $13.99M for residents); US property above it is taxed up to 40%. Treaties may help.

ITIN Requirement

Nonresidents without an SSN need an ITIN (Form W-7) to file US tax returns, claim FIRPTA refunds, and report rental income.

Talk to a US real-estate tax advisor

FIRPTA, ITIN & Washington property-tax guidance for foreign buyers

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First Hill Real Estate FAQ

First Hill, Seattle, Washington offers gross yield of 6.0, walkability of 100, and education in the 85th percentile. Those are strong numerical features, but prices are about 4% above Seattle and 71% above Washington, and values fell 16.7% over the past year, so the recent trend is a key consideration.

Neighborhoods near First Hill

Compare First Hill with nearby neighborhoods in Seattle.

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