Everything else equal, I think we can all agree that living in a cheaper place is better than living in a more expensive place.
I’d much rather pay $500/mo in rent than $1,000. And I’d rather pay $2 for coffee than $5.
And while every neighbhorhood in Bellevue might be more expensive than living in rural Washington, there are certain neighborhoods that are definitely cheaper.
So what exactly are those Bellevue neighborhoods where your dollar goes a little further — you can get that one bedroom instead of the studio?
Instead of relying on public opinion and speculation, we wanted to get the facts straight and find out which neighborhoods in Bellevue are the cheapest.
Here are the cheapest neighborhoods in Bellevue for 2020:
What’s the cheapest neighborhood to live in Bellevue for 2020? According to the most recent census data, Overlake looks to be the cheaptest Bellevue neighborhood to live in.
At this point we should make it clear that you do get what you pay for — some of these neighborhoods might not be the best places to live in Bellevue. You could be sacrificing location or crime rates in return for more space and cheaper groceries.
Read on to see how we determined the places around Bellevue that deserve a little bragging rights or maybe you’re interested in the worst neighborhoods in Bellevue.
Once you’re done, you can look at the bottom of the story for a complete chart of every neighborhood we looked at from cheapest to most expensive.
For more Washington reading, check out:
- Best Places To Live In Washington
- Best Counties To Live In Washington
- Cheapest Cities To Live In America
- Cheapest States To Live In America
How We Determined The Cheapest Bellevue Hoods In 2020
In order to rank the cheapest places to live in Bellevue, we had to determine what criteria defines “cheap”.
Using census and extrapolated BLS data, we arrived at the following set of criteria:
- Overall Cost Of Living
- Rent To Income Ratio
- Median Home Value To Income Ratio
We then ranked each neighborhood with scores from 1 to 23 in each category, where 1 was the cheapest.
Next, we averaged the rankings for each neighborhood to create a cheap neighborhood index.
And finally, we crowned the neighborhood with the lowest cheapest neighborhood index the “Cheapest City Neighborhood In Bellevue.” We’re lookin’ at you, Overlake.
Read on below to learn more about what it’s like to live in the cheapest places Bellevue. Or skip to the end to see the list of all the neighborhoods in the city from cheapest to most expensive.
The 10 Cheapest Neighborhoods To Live In Bellevue For 2020
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Population: 12,215
Cost Of Living Index: 155 (2nd cheapest)
Home Value To Income Ratio: 4.5 (3rd cheapest)
Rent To Income Ratio: 0.017 (16th cheapest)
More on Overlake: Homes For Sale | Data
The median income in Overlake comes in at $94,108 and the median home value is $421,980 for 2020.
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Population: 2,698
Cost Of Living Index: 170 (10th cheapest)
Home Value To Income Ratio: 4.6 (4th cheapest)
Rent To Income Ratio: 0.016 (13th cheapest)
More on Newport Hills: Homes For Sale | Data
Newport is a neighborhood in Bellevue, WA. It contains the Newport Hills/Lake Heights neighborhoods east of Interstate 405 and the Newport Shores district lying along the Lake Washington Shore, west of I-405.
The median income in Newport Hills comes in at $115,846 and the median home value is $534,733 for 2020.
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Population: 13,340
Cost Of Living Index: 158 (4th cheapest)
Home Value To Income Ratio: 5.3 (12th cheapest)
Rent To Income Ratio: 0.016 (12th cheapest)
More on Lake Hills: Homes For Sale | Data
The median income in Lake Hills comes in at $87,421 and the median home value is $467,150 for 2020.
/10
Population: 10,425
Cost Of Living Index: 170 (10th cheapest)
Home Value To Income Ratio: 5.1 (7th cheapest)
Rent To Income Ratio: 0.015 (11th cheapest)
More on Bridle Trails: Homes For Sale | Data
The median income in Bridle Trails comes in at $109,486 and the median home value is $553,243 for 2020.
/10
Population: 3,286
Cost Of Living Index: 160 (5th cheapest)
Home Value To Income Ratio: 4.8 (5th cheapest)
Rent To Income Ratio: 0.017 (18th cheapest)
More on Factoria: Homes For Sale | Data
The median income in Factoria comes in at $96,201 and the median home value is $465,800 for 2020.
/10
Population: 2,664
Cost Of Living Index: 162 (7th cheapest)
Home Value To Income Ratio: 6.0 (20th cheapest)
Rent To Income Ratio: 0.008 (2nd cheapest)
More on Phantom Lake: Homes For Sale | Data
The median income in Phantom Lake comes in at $92,363 and the median home value is $558,133 for 2020.
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Population: 220
Cost Of Living Index: 206 (23rd cheapest)
Home Value To Income Ratio: 4.3 (2nd cheapest)
Rent To Income Ratio: 0.011 (5th cheapest)
More on Beaux Arts: Homes For Sale | Data
The median income in Beaux Arts comes in at $196,083 and the median home value is $834,700 for 2020.
/10
Population: 6,476
Cost Of Living Index: 161 (6th cheapest)
Home Value To Income Ratio: 5.2 (9th cheapest)
Rent To Income Ratio: 0.017 (17th cheapest)
More on Wilburton: Homes For Sale | Data
The median income in Wilburton comes in at $92,510 and the median home value is $480,825 for 2020.
/10
Population: 5,654
Cost Of Living Index: 199 (21st cheapest)
Home Value To Income Ratio: 5.2 (10th cheapest)
Rent To Income Ratio: 0.007 (1st cheapest)
More on Lakemont: Homes For Sale | Data
Lakemont is a neighborhood located on the Northern face of Cougar Mountain and is often used to refer to many of the communities on Cougar Mountain centered on Lakemont Park and Lewis Creek Park. The majority of Lakemont is located within the city limits of Bellevue, Washington but part of it also falls within Issaquah, Washington. The neighborhood falls fully within the Issaquah School District. Some sections within the Lakemont Community Association include Branderwood, Brighton, Creekside Circle, Longshadow Ridge, Wyngate, Woodcroft, Greystone, Findley Court, Silverleaf, Vuemont Meadows, Collingwood, Sky Mountain, Stratford, Chandler Park, Lakemont Woods,Forest Ridge, the Summit, Belvedere and Lakemont Highlands. There is one small shopping center in Lakemont with a variety of stores. Lakemont borders the nearby cities of Issaquah and Newport, and is one of the largest suburban areas of Bellevue.
The median income in Lakemont comes in at $163,075 and the median home value is $852,171 for 2020.
/10
Population: 3,989
Cost Of Living Index: 170 (10th cheapest)
Home Value To Income Ratio: 4.2 (1st cheapest)
Rent To Income Ratio: 0.021 (22nd cheapest)
More on Interlake: Homes For Sale | Data
The median income in Interlake comes in at $114,421 and the median home value is $484,175 for 2020.
Summing Up The Cheapest Places In Bellevue
If you’re measuring the neighborhoods in Bellevue where prices are low and it’s cheap to live, this is an accurate list.
As we mentioned earlier, the neighborhoods in Bellevue aren’t all cheap. Meydenbauer takes the title of the most expensive neighborhood to live in Bellevue.
We ranked the neighborhoods from cheapest to most expensive in the chart below.
For more Washington reading, check out:
- Cheapest Places To Live In Washington
- Best Places To Raise A Family In Washington
- Best Places To Retire In Washington
- Richest Cities In Washington
- Safest Places In Washington
- Worst Places To Live In Washington
Detailed List Of The Cheapest Neighborhoods To Live In Bellevue For 2020
| Rank | Neighborhood | Cost Of Living Index |
|---|---|---|
| 1 | Overlake | 155 |
| 2 | Newport Hills | 170 |
| 3 | Lake Hills | 158 |
| 4 | Bridle Trails | 170 |
| 5 | Factoria | 160 |
| 6 | Phantom Lake | 162 |
| 7 | Beaux Arts | 206 |
| 8 | Wilburton | 161 |
| 9 | Lakemont | 199 |
| 10 | Interlake | 170 |
| 11 | Woodbridge | 174 |
| 12 | Downtown | 172 |
| 13 | Eastgate | 175 |
| 14 | Newport Shores | 194 |
| 15 | Vasa | 170 |
| 16 | Robinswood | 155 |
| 17 | West Lake Sammamish | 182 |
| 18 | Somerset | 188 |
| 19 | Tam O’shanter | 181 |
| 20 | Hidden Valley | 174 |
| 21 | Crossroads | 158 |
| 22 | North Bellevue | 187 |
| 23 | Meydenbauer | 200 |
