Sequim demographics have created a very stable Sequim economy and stable Sequim real estate market. First let’s talk about some of the general Sequim demographics, and then I’ll explain how they create a strong local economy.
The Sequim population in 2013 was 6,669 (97% urban, 3% rural). The population changed since 2000 by a plus 53.9%. This does not include the much larger surrounding population not inside the city limits.
The entire county population in 2012 was 71,863 (65% urban, 35% rural), and it was 64,525 in 2000. The estimated median household income in Sequim in 2013 was $41,432 It was $27,880 in 2000.
Mean prices in 2013: All housing units: $239,920; Detached houses: $268,314; Townhouses or other attached units: $233,711; In 2-unit structures: $190,471; In 3-to-4-unit structures: $140,337; In 5-or-more-unit structures: $115,321; Mobile homes: $97,467; Occupied boats, RVs, vans, etc.: $112,594. [Source: City-Data]
Some of these stats are not especially easy to interpolate, so I want to add two important conclusions that add substantially to an understanding of the stability created by the Sequim demographics.
The big box stores have been building aggressively in Sequim for over a decade, but they have not been building in nearby cities as far away as 50 miles. Silverdale is the next growing city, and that’s about an hour’s drive. Costco, Home Depot, Office Depot, Wallmart, Starbucks, Petco, Ross Dress for Less, and restaurant chains have been building in Sequim for over a decade, because their corporate demographic studies, which are extensive and expensive, prove to them that Sequim is the strongest area economy with the best long term growth potential. That conclusion comes from the Sequim demographics that identify retirees with steady retirement checks as strong and stable consumers, no matter what the economy is doing.
There’s another important less about Sequim demographics. Retirees moving to Sequim buy a home rather than rent. Homeowners are more stable than tenants, earn more money, spend more money, and stay longer with a vested interest in the local economy.
There’s no question that the Sequim demographics are part of what makes our local economy so stable. And that’s a good thing.
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