These days, when looking at the incomes of people living in Seattle, the phrase "a city that makes good money" comes to mind first.

According to the U.S. Census Bureau (Census ACS 2023), the median household income in Seattle is about $115,000.

This is more than 46% higher than the national median household income of about $78,000.

While there are many cities in the U.S. with high incomes, very few large cities with populations over 700,000 maintain this level.

So why is it so high? Seattle's technology industry is essentially driving the city's economy.

Amazon's headquarters is in Seattle, and Microsoft's headquarters is nearby in Redmond.

Additionally, big tech companies like Google and Meta also operate large offices here. Software engineers at these companies can earn between $150,000 and $250,000, and when stock options (RSUs) and bonuses are included, total compensation can exceed $300,000.

With tens of thousands of high-income workers, the overall median income of the city naturally rises.

However, many people are mistaken here. "The median income is $115,000, so most people must be earning that much."

That is not the case at all. The median income is just a statistic that represents the middle of the city.

In Seattle, there are engineers earning hundreds of thousands of dollars, but there are also restaurant workers, service industry employees, teachers, artists, and small business owners living together.

As a result, Seattle is considered one of the cities in the U.S. with a significant income gap. The housing prices make that gap even more apparent. Single-family homes in downtown Seattle typically range from $800,000 to over $1.5 million.

In popular areas, it's not hard to find homes priced over $2 million. Condos generally range from $450,000 to $900,000.

Interestingly, despite mortgage rates rising significantly in recent years, prices have not collapsed dramatically.

The reason is that supply is limited, and the purchasing power of big tech employees remains strong.

Additionally, Washington's tax structure plays a role. Washington has no state income tax. An employee earning $200,000 can take home thousands of dollars more compared to other high-income states, sometimes over $10,000.

The Korean community is also steadily growing. In particular, areas like Bellevue, Lynnwood, and Federal Way have established Korean restaurants, markets, and various Korean businesses.

Korean engineers working at Amazon and Microsoft are consistently moving in, leading to a growing professional Korean community.

However, there is a crucial reality to consider. Just because salaries are high doesn't mean everyone is living comfortably.

The median income of $115,000 can disappear faster than expected in Seattle. Considering high housing prices, rent, car insurance, parking fees, dining out costs, and high sales tax, the cost of living feels much higher than the national average. Especially when trying to buy a home, many people face the reality of "Why is it so burdensome when my income is high?"

Therefore, when looking at Seattle, it's important to assess where your profession stands in the city's economy rather than simply relying on the high average salary. If you belong to a high-income industry like big tech, Seattle can be a city of opportunity. Conversely, for those in general occupations, relying solely on high income statistics can be misleading due to the significant cost of living and housing expenses.

Ultimately, Seattle is indeed one of the wealthiest cities in the U.S.

However, it's essential to understand that this wealth is not evenly distributed among all residents; it is a result built on the massive engine of the technology industry.