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Brief Review of Washington State Demographics

August 13, 2009 by  
Filed under Featured, Puget Sound Region

The Puget Sound Business Journal recently published demographics by county, and we found a lot of the data interesting.  Since we couldn’t post the images printed, we’ve found our own data to supplement what the Business Journal created.  Here’s somewhat of the same information:

Population Change and Net Migration

Source: WA Trends - Office of Financial Management

Source: WA Trends - Office of Financial Management

Although population growth has slowed as a result of the economic situation, Washington still continues to be a leader in growth.  From April 1st, 2007 to April 1st, 2008, Washington’s population increased by 99,600.

Washington and U.S. Per Capita Personal Income

Source: WA Trends - Office of Financial Management

Source: WA Trends - Office of Financial Management

In the late 1990’s, Washington experienced a boost in income per capita from stock options and software industry wages.  Even before then, Washington shows to have averaged higher than the rest of the US almost every year since 1980.

Education

Source: WA Trends - Office of Financial Management

Source: WA Trends - Office of Financial Management

In 2007, an estimated 44% of King County residents 25 years old and over have a Bachelor’s Degree or higher.  When it comes to enrollment into four-year institutions, Washington doesn’t place as much of a leader.  However, higher education attainment places Washington within the top ten states based on percent of residents who have a bachelor’s degree or higher.

Unemployment Rate

Source: WA Trends - Office of Financial Management

Source: WA Trends - Office of Financial Management

Again, Washington shows another positive trend in leadership among averages nationwide.  Boeing continues to be the number one employer with over 74,000.  Microsoft employs over 36,000, and the University of Washington over 20,000.

Median Single Family Home/Condo Prices

Source: WA Trends - Office of Financial Management

Source: WA Trends - Office of Financial Management

Source: WA Trends - Office of Financial Management

Source: WA Trends - Office of Financial Management

Of course King County leads in number of closed sales, and highest median price.  Although single-family homes are 85% of residential sales, condominiums seeing much less of a reduction in prices compared to last year’s decline.

The profiles done on counties within the Puget Sound Business Center are actually quite impressive, but we couldn’t find nearly as much data.  In case you’re thinking of picking one up, additional information includes population race and origin, local B&O taxes, median age population, comute times, crime statistics, number of licensed business’s, types of employment, average wages, office/industrial real estate statistics, property tax rates, real estate excise taxes, housing growth, rent and vacancy rates, wealthiest zip codes, critical contacts, and public/private school rankings.

Although the majority of the information on this post came from the Office of Financial Management, here are some other websites to consider using if you’re looking for more information:

Office of Financial Management: http://www.ofm.wa.gov/

City Data: http://www.city-data.com/city/Washington.html

Washington Center for Real Estate Research: http://www.wcrer.wsu.edu/

US Census Bureau: http://www.census.gov/

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