Bellevue, Washington, has experienced significant economic growth over the past two decades, solidifying its position as a dynamic regional center. With a population of approximately 154,486 residents, the city has seen a steady annual growth rate of 0.19%.
Employment and Business Environment
As of 2015, Bellevue boasted over 150,000 jobs, making it the second-largest city in Washington State in terms of employment. The city’s job market has grown at an average annual rate of 1.12% since 2000, with projections estimating 192,800 jobs by 2035. This growth reflects Bellevue’s robust and diverse economic base.
In a 2025 business survey, 71% of businesses indicated that Bellevue is headed in the right direction, and 85% viewed it as a favorable place to conduct business. Additionally, 69% would recommend doing business in Bellevue, highlighting the city’s competitive business environment.
Housing Market Dynamics
The housing market in Bellevue remains competitive. As of May 2026, the average home value was $1,499,175, reflecting a 3.7% decrease over the past year. Homes typically go pending in around 11 days, indicating strong demand. The median sale price per square foot stood at $672, down 7.3% from the previous year.
Tourism and Economic Impact
Tourism plays a vital role in Bellevue’s economy. In 2025, visitor impact supported approximately 14,000 hospitality industry jobs and generated $142 million in state and local taxes. This underscores the importance of tourism in sustaining the city’s economic ecosystem.
Transportation Developments
Enhancing connectivity, Sound Transit launched its light rail service between Seattle and Bellevue on March 28, 2026. The new Line 2 connects Bellevue to Seattle’s Chinatown-International District station, providing expanded transit options and strengthening regional ties.
Bellevue’s economic landscape is characterized by steady growth, a favorable business environment, and strategic developments in housing and transportation, positioning the city as a thriving hub in the Pacific Northwest.