Olympia, Washington, offers a cost of living that is competitive, particularly for those seeking a balance between affordability and quality of life. According to Sperling’s Best Places, Olympia’s overall cost of living index is 112.1, which is slightly higher than the national average but lower than the Washington state average. This makes Olympia more affordable than many other cities in the region, such as Seattle, where the cost of living index is significantly higher at 167.8.
Housing costs in Olympia are a major factor contributing to its relatively affordable cost of living. The median home price in Olympia is $472,500, which is substantially lower than Seattle’s median home price of $750,000. This makes Olympia an attractive option for those looking to purchase a home without the exorbitant prices seen in nearby major cities. Additionally, renting in Olympia is also cost-effective, with the average rent for a two-bedroom apartment around $1,460 per month, compared to the Seattle average of $2,150 per month.
Property taxes in Olympia are moderate, aligning with the state’s average, and Washington’s lack of a state income tax is a significant financial benefit. This can result in considerable savings for high-earning professionals, such as physicians, making the overall tax burden lower than in states with high income tax rates.
For physicians considering a move, Olympia presents a cost-effective alternative to living in more expensive cities like Seattle or Tacoma. The combination of lower housing costs, moderate property taxes, and the absence of state income tax creates a financially advantageous environment. Furthermore, the city’s diverse economy and employment opportunities in sectors like healthcare, government, education, and technology provide a stable and supportive community for both personal and professional growth.
Relocating to Olympia offers the advantage of enjoying a high quality of life with access to excellent amenities, cultural activities, and outdoor recreation, all while benefiting from a more affordable cost of living compared to nearby metropolitan areas. This balance makes Olympia an appealing choice for physicians seeking to establish a rewarding career and a fulfilling family life in the beautiful Pacific Northwest.
Olympia's real estate market caters to diverse preferences, from historic homes in tree-lined neighborhoods to modern, energy-efficient new constructions. For families seeking a suburban feel with excellent amenities, neighborhoods listed below are highly desirable
Camano Island - https://camanoisland.org/
Madrona Beach
Sunrise Beach
Sunset Beach
Westside Olympia - https://nextdoor.com/neighborhood/westsideolympia--olympia--wa/
Carlyon-North
Tumwater - https://allreadymoving.com/blog/moving-to-living-in-tumwater/
Westside Olympia is known for its top-rated schools, expansive parks, and proximity to shopping centers. Carlyon-North offers beautiful, spacious homes and a strong sense of community, while Tumwater, just south of Olympia, combines a small-town atmosphere with convenient access to the city’s amenities.
To find currently available housing options for rent and purchase in Olympia, resources such as Zillow, Realtor.com, and local real estate agencies like DreamWeaver Real Estate are great local resources (https://www.weaverland.com/). Larry, Chris and Mark have been in the Real Estate Market in Western Washington for 60+ years and I can attest 1st hand, they are the best in the area.
In conclusion, Olympia’s real estate market offers a variety of housing options to suit different needs and budgets. With its lower housing costs compared to nearby cities, desirable neighborhoods, and excellent amenities, Olympia is an attractive destination for physicians and their families seeking a balanced and fulfilling lifestyle.