Nationally, single-family rentals (detached homes or townhomes) are developing faster than any other portion of the housing market. These rentals outpace both single-family home purchases and apartment rentals. Locally, nearly half of all Seattleites are renters.
Between 2006 and 2016, according to census data analysis by Rentcafé, renter share in Seattle increased by 13.6 percent, while ownership share decreased by 10.1 percent. As of 2016, 48.5 percent of Seattle residents were renters. “And with 12,000 new homes entering the Seattle market in 2017—and none of them being condos—we seem poised to be a renter-majority city sooner rather than later.”
We are here to help you and your clients with all aspects of the rental market. Please contact us for further assistance!
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.