Seattle’s 2017 appartment boom

Recently I read in the Seattle Times  we are about to get a whole lot of inventory. This is good news if you are looking for an apartment. The Times reported Seattle is set to see about 10,000 new apartments in 2017. Yep, you read it right, 10,000! If you don’t have your calculator handy that equates to about 27 per day.  That is almost twice as many in any prior year in the city’s history. What does this mean? Rent increases should ease up. This year may only see  a 5% increase. In fact, rents dipped in the last quarter of 2016. Landlords are starting to offer incentives. With all this said now is a good time  if you are looking for a place to rent. The vacancy rate is the highest it has been in the last six years.

Leave a Reply

Your email address will not be published. Required fields are marked *