BUILD THEM – THEY WILL COME!

The Dupre and Scott’s March survey of 20+ unit apartments reports that almost 9,500 new apartments were opened in 2016. 12,700 are expected this year in King, Pierce and Snohomish Counties and 62,000 more are planned between 2017 and 2020.

The survey shows that that new construction apartments typically get a rent premium of more than 40%.  Rent increases have averaged 3.3% annually since 1998, but in the last six months, Kitsap County had over a 4% on average increase.  The Eastside had the lowest at .75%.

We are here to help you and your clients with all aspects of the rental market. Please contact us for further assistance!

There are no warranties, express or implied, including fitness for a particular purpose, made with respect to this communication. Nothing found herein should be construed as an attempt to offer or render a legal opinion or otherwise engage in the practice of law. You should obtain the advice of an attorney well versed in these matters.

About Coldwell Banker Bain Property Management

As residential property managers for Coldwell Banker Bain Property Management Division, we manage single family residences, individual condominium units and small apartment complexes in the greater Puget Sound region. We serve Seattle, Tacoma, Anacortes, Marysville, Bainbridge Island, Lynnwood, Everett, Redmond, Bellevue and many other cities in Washington State. We also offer full service commercial property management.
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