Dashboard: Woodway

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Demographics1
 2000  2010 2013 2014 2015 2016 2017
Population2 936 1,307 1,300 1,310  1,335 1,335 1,340
Housing Units 342 487 461 476  479 475 471
Renter Households 3.6% 5.4% 4.4% 6.2%  4% 2.9% 3.6%
Median Household Income (2017 dollars) $140,845  $174,951  $170,097  $150,836  $165,214 $163,443 $162,864
Households <50% AMI 7.9% 16.8% 11.2% 11.5% 9.7% 9.9% 12.6%
Cost-Burdened Homeowners 26.5%  37.4% 37.3% 34.1%  30.3% 33.9% 28.2%
Cost-Burdened Renters 0% 90% 82.3% 88.0%  68.8% 25.0% 20.0%
Average Household Size: Homeowners 2.8 3.0 3.2 3.0  3.04 3.12 2.83
Average Household Size: Renters 2.2 2.4 2.8 2.6  1.69 2.07 2.24
Single Family Home Share 99.4% 98.8% 100% 100%  99.4% 99.2% 99.2%
Single Person Households  13.4%  11.9% 16.5% 16.0%  15.1% 16.1% 17.8%
Jobs-Total Housing Ratio 0.25 0.28
Jobs-Occupied Housing Ratio 0.25 0.29
Employed People/Occupied Housing Unit 1.15 1.27 1.27
Location Affordability Index

HUD’s Location Affordability Index provides estimates on the typical cost of housing and transportation combined in a given location balancing a wide range of factors. These estimates are expressed in terms of a share of household income, with 45% as the recommended maximum portion of income devoted to the two. Estimates of what several types of households could expect to spend on housing and transportation in the City of Woodway are as follows:

  • Regional median income household – 62.2% of income
  • Family at 80% AMI – 71% of income
  • Single parent family at 50% AMI – 110% of income
  • Retired couple at 80% AMI – 63.1% of income
  • Individual at national poverty line – 286.1% of income
Typical Housing Costs – All Households3
 2000  2010  2013 2014 2015 2016 2017
Median Rent (2017 dollars)  $1,213  $2,189  $2,000+ $2,000+  $1,620 $1,546 $1,653
Required Income $48,504  $87,551 N/A*  N/A*
Median Home Value (2017 dollars) $820,820  $1,082,436  $1,029,630 $911,162  $1,030,491 $1,044,668 $1,082,704
Required Income4 $210,461 >$216,563  $225,309  $214,318 $214,497 $217,448 $225,365
Ratio: Median Value-Median HH Income 5.8 6.9 6.4 6.8

*Minimum required income cannot be calculated for 2014 or 2015 in Woodway, as median rent is expressed as “greater than $2,000” for both years

Market Information

The tables below differ from the “Typical Housing Costs” table in that they specifically show rents and home prices for new renters or homebuyers in that year, as opposed to values for the entire market as in “Typical Housing Costs”.

2010 2013 2014 2015 2016 2017
Assisted Housing Units  0
Median Rents – Dupre and Scott (2015 Dollars)
     Studio  No Data  No Data No Data  No Data
     One Bedroom No Data  No Data  No Data  No Data
     Two Bedrooms No Data No Data No Data  No Data
     Three Bedrooms $1,946  $2,165  $2,225  $2,225
     Four+ Bedrooms No Data  $2,268 No Data  No Data
Median Home Sale (2015 Dollars)  $831,735  $962,872  $902,191 $985,500  $990,338
     Required Income  $180,123  $194,283  $178,827  $195,634  $195,973


1. Unless otherwise noted, 2010 and 2013 data in “Demographics” table is from 5 year US Census American Community Survey estimate. Data from 2000 is from the 2000 Census SF-3 file.
2. Washington State Office of Financial Management
3. Unless otherwise noted, 2010 and 2013 data in “Typical Housing Costs” table is from 5 year US Census American Community Survey estimate. Data from 2000 is from the 2000 Census SF-3 file.
4. Minimum income is based on a calculation of estimated monthly debt service payment, insurance, and taxes for the median value home using average mortgage terms for the specified year from the Federal Housing Finance Agency. Due to differences in average mortgage terms over the years, the degree of change in minimum income may not seem to match the degree of change in median home value.