July 27, 2017
Puget Sound TrendsExecutive Board
Today’s Meeting
• Population trends
• Housing Unit trends
• Airport and Transit Trends
• Job Trends
Today
Continued population surgeAnnual Population Change in the Central Puget Sound
• Regional population of 4.07 million
• 82,000 added to region in 2016-17
• Only 2nd time 80K+ people added to region in a single year since 1990-91
Source: OFM, April 1, 2017 Population of Cities, Towns and Counties
0%
25%
50%
75%
100%
King County Kitsap County Pierce County Snohomish County
Rate of Growth is faster than planned2010 to 2017 Growth compared to 2010 to 2040 Forecast
• In 7 years, King County has already accounted for 45% of the 2040 planned growth
• 32% of the 30 year planned growth for the region has occurred the past 7 years
Source: OFM, April 1, 2017 Population of Cities, Towns and Counties, PSRC Land Use Vision
Annual Population Change by Component
• Natural changes in population account for 22k-24k new residents per year
• Migration has outpaced natural population change for the last 4 years
• Since 2010, 56% of the region’s population growth has been from migration
Still a Magnet for newcomers
Source: OFM, Components of April 1 Population Change
22,700
25,100
9,600
23,300
47,900
25,500
63,600
86,300
81,800
00-01 02-03 04-05 06-07 08-09 10-11 12-13 14-15 16-17
Annual Population & Housing Unit Change• Housing Units additions are
nearing early 2000 levels but the gap with population change is still large
Housing & Population Gap still wide
Source: OFM, April 1, 2017 Population of Cities, Towns and Counties & April 1, 2017 Housing Units by Cities, Towns and Counties
2.5M2.4M
2.8M 2.9M3.1M
3.6M
3.9M 4.0M
3.2M3.1M
2.9M
3.2M
+301k
+305k
+404k +375k
+484k
+430k
+529k +492k
+437k
+398k
+365k
+322k
+281k+364k
+226k +361k
+351k
+380k
+290k +337k
+232k
+238k
+142k
+195k
+ 210k
+ 194k+ 141k
0.0m
1.0m
2.0m
3.0m
4.0m
5.0m
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2017
2016
2015
2014
Source: Port of Seattle Airport Statistics, Passenger, Cargo and Operations Monthly Summary
2014 Annual Passenger Volume: 37.5 million
2015 Annual Passenger Volume: 42.3 million (+13%)
2016 Annual Passenger Volume: 45.7 million (+8%)
2017 through April: + 4%
SeaTac Airport still growing strong
Monthly Passenger Volume
Source: National Transit Database Monthly Adjusted Release, May 2017
Overall Transit Ridership still rising
75.6m 76.7m 78.3m 80.5m 82.6m 83.6m87.1m 89.0m
2010 2011 2012 2013 2014 2015 2016 2017
• Transit boardings have increased 2.2% in the first five months of 2017 (slightly faster than population growth).
Transit Boardings from January 1st to May 31st
20,600
40,800
47,50045,700
60,700
69,300
43,700
10 ot 11 11 to 12 12 to 13 13 to 14 14 to 15 15 to 16 16 to 17
A robust regional economyAnnual Employment Change as of May, 2010-2017
Source: ESD, WA Employment Estimates (seasonally adjusted) May 2017
• 43,700 wage & salary jobs added to region last year (2.1% increase)
• 328,000 jobs added to region since 2010 (19% increase)
• King and Snohomish counties have accounted for 87% of job growth since 2010