Average Rent In Seattle Area Nearing $1,300 Per Month

98121After rising by 6.8 percent in the first quarter of this year, the average rent for an apartment in the Seattle area is continuing to rise as the year progresses, and the average now stands at $1,284 per month, according to a report in The Seattle Times. Since this statistic includes not just the city of Seattle but the surrounding cities, as well, there is quite a bit of variation in the average price when broken down by city, and even by neighborhood. The average in West Bellevue tops the list at $1,912 per month, while the average in SeaTac is more than $1,000 cheaper at $901 per month. In the city of Seattle alone, the average is $1,445. There is also a significant difference in rental costs depending on when the unit was built. For units built after 2010, the average is $1,754, whereas the average for a building built in the 1970’s is $1,019.

Among Seattle neighborhoods, rents in Ballard have gone up by the highest percentage, having risen 12.3 percent over the quarter to $1,628. For a neighborhood that has historically been home to mostly single-family homes, the apartment-building boom is significantly changing the residential face of the neighborhood, and while rents are high, Ballard also posted the city’s highest vacancy rate of 8.6 percent in the second quarter. There are many units still under construction, and when they are complete apartment inventory will have quadrupled over the past six years. To go along with that, vacancy rates are expected to rise to 18 percent.

If you are interested in renting in the Seattle area, contact your local real estate agent today.

 

 

 

Learn To Compost In Your Apartment With Seattle Tilth

Seattle Tilth

Do you live in an apartment, or just have limited space in your home, and want to learn how to compost? Seattle Tilth, an organization whose mission is to educate the public about sustainable food systems, is hosting a free workshop on July 15 geared specifically toward composting in small spaces.

The workshop will teach participants about “vermiculture”, or worm composting, which creates a rich compost that is ideal for fertilizing your garden. If you live in an apartment and are able to keep a balcony garden, this is a great way to make it sustainable by using leftover food scraps. The workshop is free and will be taking place at Victor Steinbrueck Park, just west of Pike Place Market. Pre-registration is required, and you can do that here.

If your building isn’t ideal for gardening but you still want to find somewhere to put your food scraps other than the landfill, take advantage of the the City of Seattle’s food waste recycling program. Every apartment building with more than five units is required to have a food waste cart available for residents to use, so check with your building to make sure they do!

If you would like more information about renting an apartment in Seattle, contact your local real estate agent today.

 

 

 

 

Data Shows Half Of Seattle Renters Live Alone

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According to the most recent census data reported by The Seattle Times, Seattle’s population of renters is living up to the city’s reputation for introverted residents. 51 percent of the city’s rent-paying tenants live alone, which is a surprising statistic considering that the average rent in Seattle is now $1,480, up 21 percent from five years ago. Only Atlanta has a larger percentage of solo renters, and most other cities toward the top of the list (Cincinnati, St. Louis and Pittsburgh) have average rents significantly lower than Seattle’s.

But despite the significant rental costs, it appears Seattleites are willing to pay more in order to not have to share their space. No sinks full of your roommate’s dishes (just your own), no fighting over the parking space, and no sharing any of that precious square footage. Single-occupancy units are clustered more heavily in certain areas of the city, including downtown, where three out of every four units is occupied by a single person, and other densely populated neighborhoods such as Capitol Hill, Eastlake, and Fremont.

Though the rate of solo renters is high comparable to other cities, the percentage has dropped from 56 percent in 2009, so it appears renters may be starting to feel the squeeze of rising rents. For more information about renting in Seattle, contact your local real estate agent today.

 

Seattle Rentals May Monthly Recap

King County rental activity dropped in May from April with 262 leased properties, according to stats from the Northwest Multiple Listing Service.  This number is down from the same time last year with 354 leased properties in King County.  Currently, there are 287 available rentals on the NWMLS, with 56 in neighborhoods within 7 miles of the downtown core.  The current highest asking price is $8500/mo for a 2 brd/2.b bath condo. shorewood

For more information about Seattle rentals, please contact me at anytime.

Eastlake Condo Rental: $3,599

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This elegant 2 bed, 2.5 bath condo unit in the Tramonti condominium is now available! The unit also includes a den and has views of Lake Union and Downtown Seattle. From its sophisticated aesthetics to its steel and concrete structure, this home offers the finest materials and design. Features include freshly painted interior, an amazing open floor plan with European hardwoods, 9.5 foot ceilings, and a gas fireplace. The kitchen also contains stainless steel appliances and granite counter tops. This condo has over 30 feet of roof top deck with full Western Views! If you’re interested in this, or other Seattle rentals, contact your local real estate agent today.

Status: For Rent
Bed/Bath: 2/2.5
Price: $3,599