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.
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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.