Seattle rental prices have fallen a whopping 12% in a year
Ah yes, Seattle has been in the news a lot recently when it comes to the housing market. And while our homeowners are sitting pretty, rental owners aren’t looking so hot. In fact, rental prices are dropping pretty hard. And that’s great if you happen to be looking for a place to rent.
Due to the pandemic, a lot of people have had to reevaluate where they live and how much they pay to live there. So with that in mind, a lot of people have chosen to move out of urban centers in search of more affordable housing. And because of that, studio rent has decreased by 12% in King County.
Rents in San Francisco tumble:
Change from last year (median price):
Studio apartment: -31% ($2,285/mo).
1-bedroom: -24% ($2,873/mo).
2-bedroom: -21% ($3,931/mo).
— scott budman (@scottbudman) October 13, 2020
So while prices are still pretty high compared to a lot of other US cities, you might just be able to find something within your budget. And not to mention, one-bedroom rent prices have also decreased by over 10%. So it might just be time to hop online and see what’s available in Seattle.
If you’d like to learn more you can click here. And this data is also a great way to look at what other cities are doing if you’re thinking of making a big move. But either way, if you’re in search of a new living situation we hope this news helps you out!