Is Mountlake Terrace the Best Up-and-Coming City in the Seattle Metro?
Mountlake Terrace: A City on the Rise
Mountlake Terrace has always been a great suburban community just north of Seattle, but it’s evolving fast. With major transit improvements, new housing developments, and a growing local economy, it’s becoming one of the most exciting up-and-coming cities in the region. I’ve been keeping a close eye on the changes, and I can tell you—buyers, investors, and developers are paying attention. But what makes Mountlake Terrace stand out, and is now the right time to buy?
The Light Rail is a Game-Changer
One of the biggest factors driving change in Mountlake Terrace is the Lynnwood Link Extension of Sound Transit’s Light Rail System. When the Mountlake Terrace Station opens in mid-2024, it will provide a direct, under-20-minute ride to downtown Seattle. That’s huge.
I’ve already seen this development fuel demand for housing and commercial space. Commuters who want to avoid Seattle’s high real estate prices are looking at Mountlake Terrace as a great alternative, and that’s pushing up demand for homes.
With transit-oriented development (TOD) on the rise, we’re seeing:
• New apartment and condo developments near the station.
• More foot traffic, which is great for local businesses.
• Rising home values as more people move into the area.
If you’re a buyer or investor, this could be a great opportunity for long-term appreciation in property values.
Real Estate is Booming
Mountlake Terrace is still more affordable than Seattle, but prices are climbing quickly. I’ve been watching market trends, and here’s what stands out:
• The median home price in Mountlake Terrace is significantly lower than in Ballard or Bellevue, making it one of the last relatively affordable spots with easy Seattle access.
• New residential developments, including mixed-use buildings, are changing the city’s skyline.
• The city is focused on keeping green spaces intact while accommodating growth.
For first-time homebuyers, this city offers a rare mix of affordability, convenience, and community—something that’s getting harder to find in the Seattle area.
A Growing, Thriving Community
Mountlake Terrace isn’t just adding housing—it’s investing in becoming a better place to live. The city is working to revitalize its downtown, bringing in more restaurants, coffee shops, and small businesses.
Notable improvements include:
• The Town Center Plan, which is all about creating a walkable, mixed-use urban environment.
• Terrace Station, a brand-new district near the light rail station featuring retail, housing, and office space.
• Parks and Trails Expansion, including improvements to Ballinger Park and the Interurban Trail.
What I love about Mountlake Terrace is that despite its rapid growth, it’s still managing to keep a tight-knit community feel—something that’s getting harder to find in the greater Seattle area.
Is Now the Right Time to Buy?
If you’re thinking about buying a home or investing in real estate, Mountlake Terrace should absolutely be on your radar. With transit improvements, increasing home values, and a growing local economy, the potential for long-term growth is clear.
If you want to explore your options or learn more, let’s talk! I’m happy to help you navigate this evolving market and find the right home or investment opportunity. And if you’re just starting your home-buying journey, consider signing up for one of my home buyer classes to get a deeper understanding of the market—check out my events page here: https://www.myseattlesearch.com/events-and-classes.
Joe Sheldon, Real Estate Broker
Designed Realty
Phone: (206) 751-2223
Email: [email protected]
