Despite its tall trees and close proximity to scenic Seattle, the suburb of Redmond, Washington's biggest claim to fame is its bragging rights to being the hometown of the world's richest man, Bill Gates. Although it's located just 15 miles from Seattle, Redmond has developed its own mini culture, a familiar mixture of grunge, garage bands and young techies much like that larger city to the east. In addition to serving as the breeding ground for the famous Harvard dropout-turned Microsoft chairman, Redmond also is the birthplace of Nintendo (and of course, that staple of 20th century kid-dom, the Game Boy).

Incorporated as a city in 1912, Redmond has continued to grow and diversify economically since its inception. Today, it's a high-tech mecca of sorts, with a population of approximately 40,000 residents. The median household income in Redmond is a healthy $58,677. Bill Gates remained loyal to his hometown, putting down stakes here for the Microsoft headquarters. Technology firms seem to attract other similar companies like a magnet, and so Nintendo of America, Physio-Control, Allied Signal Avionics, Primex Aerospace Company, Spacelabs Medical soon set up camp here. Safeco Insurance Company also calls Redmond home, as does Genie Industries and that famous retailer for grunge wanna-bes, Eddie Bauer. The retail sector of Redmond's local economy is currently getting a boost from the 1.4 million square-foot Redmond Town Center, an ongoing work in progress. Phase I opened two years ago. The Eastside sector of Redmond has experienced a large percentage of the city's overall growth throughout the last several years, and new businesses continue to settle here. Since the average commute time into Seattle on a weekday is 45 minutes, a significant percentage of new residents to Redmond are working here. Those who work in Seattle are probably better off living closer to the city in order to cut their daily drive time.

In addition to the city's strong regional economy, the environment is another selling point for Redmond. The average annual temperature here is a mere 53 degrees. Precipitation is generous, with an average annual rainfall of 35.5 inches. As a result, Redmond has no shortage of trees or scenery, and whenever the urge strikes in residents' hearts to catch a glimpse of the Seattle skyline -- in particular, the Space Needle -- those dramatic sights are but a short drive away. Among local events in Redmond, one of the standouts is "Redstock." Reminiscent of a small-scale Woodstock, Redstock takes place each August and includes a full lineup of live music. Redmond is known for its recreational opportunities -- in particular, Marymoor Park, the site of one of the United States' only velodromes.

The real estate market within the greater Puget Sound area has been known to be quite volatile given the continued growth of the regional economy. In fact, the residential real estate market has a history of changing quickly from a sellers' to a buyers' market depending upon the current economic forecast. Residential housing prices, too, can change rapidly in this market. Given this volatility, if you're planning a move to Redmond anytime soon, it's a good idea to seek the services of a local Realtor well-versed in the local market conditions. Given the city's hot economy -- and its proximity to nearby Seattle -- home prices currently are fairly steep in Redmond.

You're likely to experience "sticker" shock in Redmond, just as you are in Seattle. The average home price in Redmond stands at $271,913. The average rent stands at $782. Many homes are priced in the $500,000s up to $1 million and above. With so many magnificent views of the surrounding water and trees, land parcels are commanding high prices, and many local Realtors are profiting from a growing inventory of luxury properties. New construction continues, but existing as well as new homes are asking -- and receiving -- high prices from prospective homeowners. For more reasonable prices, you'll find a sizeable inventory of condominiums, many of them with scenic views.

While home prices continue to creep upward in Redmond, the benefits of living here -- from the booming economy to the liveable climate to the wealth of recreation and the city's carefree spirit and accessibility to Seattle -- far outweigh the sticker shock newcomers experience. The prosperity is likely to continue in this city blessed by geography and a pool of talented high-tech recruits.

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Published: October 4, 1999

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