Is the Seattle area too inflated?

[Account Closed]

Prices in the pacific Northwest have absolutely skyrocketed over the past 5 years.  The average home in King county is now 700k.  I'm looking to break into the multifamily market but everything seems way overpriced.  Even the suburbs (Renton, Lynwood, Edmonds) are extremely expensive now.  Rents have increased but the numbers still don't seem to add up.  What are your thoughts on investing in the greater Seattle area during this boom.  Should I be looking out of state to invest in multifamily's instead?  

[Jameson Sullivan]

I've looked over a couple multi families here in Tacoma and even down here it's getting overpriced  (although not nearly as bad as Seattle) that being said I think there's still goodness to be found I  this end.  As they say "appreciation us the icing on the cake" but I'm expecting to see quite a bit throughout certain areas of Tacoma over the next 10 years. Cheers