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.

 

 

 

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.

 

2014 Trendy Rental Perks

If you’re on the prowl for a new rental home, chances are you’re looking for amenities such as new kitchen counter, hardwood flooring and more than one bathrooms, but there are also other perks to living in a shared community that renters today should consider when searching for the perfect rental. From basic perks like an on-site laundry facility and parking to fitness centers in the building, each renter should consider which amenities they’d like to have included with their rental home. Living in an apartment these days doesn’t mean you have to forfeit a yard or BBQ space; private backyards are becoming more commonplace in first level units, and are much larger than your standard unit’s patio. If this is something you’d enjoy (or your furry friend would enjoy!) you’ll typically see a price increase anywhere from $150-$200. rental home jason

Like many Seattleites, I like to start my morning with piping hot latte – and it just so happens many of the apartment buildings in the area have an on-site cafe located in the lobby for your convenience. Is you morning workout important? Look for a building with an on-site community gym or a lovely pool (pictured right at the Olive 8), or if you like a nice summer BBQ, look for a building with a shared rooftop terrace. If you’re searching for a nice rental for you and your furry friend, pet friend amenities used to be difficult to find, but are becoming more commonplace in neighborhood buildings. Full-service pet spas and doggy-daycare¬† are located in many buildings for your convenience and your companions pleasure! Whatever your needs may be, it’s important to consider building amenities when searching for your next rental home. For more information on Seattle rentals, contact your local real estate agent today.

Rising Seattle Rents Show No Sign of Slowing Down

Hundreds of newly built rental units opened up this past year in Seattle, but the demand for more inventory and rental prices have continued to rise, with little to no signs of slowing down. Many renters and homeowners are having to reevaluate their lifestyle changes to keep up with the market today. According to the Seattle Times, wealthy folks are helping to revitalize different neighborhood business districts, but many renters are tied down by mediocre wages, and are being forced to reevaluate their lifestyle, or move out of the city altogether to make ends meet. With low inventory and a growing young tech community of employees, the time to buy a home is altered, and has contributed to the increase in rent through Seattle and the surrounding areas.

Photo credit: www.third-estate.com

Photo credit: www.third-estate.com

According to the Times, the cost in renting a studio apartment over the last two years has risen $434 in Wallingford, $419 in Capitol Hill, and $306 in Ballard. The increase in rent is also being fueled by development. With a majority of new development geared for wealthy renters, the increase in inventory will not come to the aid of those just barely scraping by. Many Seattle renter are frustrated with the rise in costs, and are concerned they may not ever be able to save up enough money to buy a home. Many are worried that by the time prices calm down, the Seattle metro area will have a very different look and feel then when they moved to the city. For more information on Seattle Rentals, contact your local Real Estate agent today.

Tips to Organize Your Tiny Kitchen

Is your tiny kitchen cramping your style? We often drool over beautiful pictures of expansive kitchens in Pottery Barn catalogs with huge dining rooms, and enough counter space to prepare a meal for the Seahawks defensive line, but most of us come home every night to cook our meals in kitchens a small portion of that size. Small kitchens can easily become disorganized, and not enjoyable to cook in, so here are a few tips from Zillow to clearing out the clutter, and redesigning your kitchen to better suit your lifestyle. Be careful not to crowd your small kitchen with huge appliances- work around the refrigerator, there are several companies that make smaller sized equipment such as slender microwaves that can save counter space. kitchen room

Efficient use of storage is also essential to keeping things tidy in a smaller kitchen, such as the use of recycle bins, spice drawers, and open shelving can also do wonders for aesthetic purposes. If you’re given the option to paint in your rental, painting the walls and ceiling the same light color can make the room appear larger than it actually is. Don’t have enough counter space for everything? Look into purchasing a rolling cart with a flat counter top and shelving below, that can be handy for cooking and extra storage, but can also be moved out of the kitchen when it is crowded. For more information on redesigning your kitchen space, visit Zillow.

Winter Causing a Spike in Your Energy Bills? Check These Spotty Areas for Air Leaks

The weather outside is frightful; dropping into the 30s and 20s this week in Seattle and surrounding areas! Now that winter is settling in nicely, you may have noticed a spike in your energy bills… and now you’re wallet is scarier than the snow flurries out your window! before you crank the thermostat, check out these nooks and crannies in your apartment, and see if there is any air leaking in, causing your home to lose heat. Your door is a great place to start. You use it to get in and out, so it’s going to cause some heat to escape throughout the day, but heat should not be escaping when the door is shut. bills

Door seals and weather strips can be damaged or outdated, so check with your landlord to see if this is something they will fix, or if you can solve to issue yourself. Your windows is another notorious place to cause issues, with heat escaping through the glass (especially in single pane windows) and through the casing around the glass. Window insulator kits are a great way to keep the heat in and cold air out, and can be found at most home improvement stores. If your rental has a fireplace that cannot be used, check to be sure it’s plugged and the flues are sealed, and if its a wood burning fireplace more heat will escape through the chimney than enters your house; so be sure the doors are closed if it’s not in use if possible. If you’re home still doesn’t seem to be keeping the heat in, you can check with your property manager to see if they have any further tips for keeping your particular unit nice and warm, and those bills down.