RISING RENTS

The average rent across King and Snohomish counties dipped 2.9 percent in December compared with the prior quarter, according to a new quarterly landlord survey by Apartment Insights/RealData.

Rents across the region had soared 48 percent over the previous five years. The Seattle area led the nation in rent hikes in 2016 and early 2017, according to Zillow.

A separate Apartment Insights/RealData report found the average rent across Pierce, Kitsap and Thurston counties were up slightly from the previous quarter and grew 7.8 percent from the previous year, indicating the South Sound rental market is now significantly hotter than King County, even as it remains a much more affordable option.

While rents continue to drop in King and Snohomish counties, largely due to the number of new construction apartments, rents have increased in Pierce, Kitsap and Thurston counties.

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

WWW.CBBAINRENTALS.COM

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 not rely solely on this information. We encourage our clients to work with a lawyer experienced in commercial and/or residential real estate matters as they can be complicated and confusing.

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 services.
This entry was posted in Did you know... and tagged , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s