Seattle One Of Top 10 Most Expensive Cities For Renters

housing-marketIf you’re a renter in Seattle you don’t need telling that it costs a pretty penny to live here, but we now have census data that confirms our rents are up there with the most expensive in the country. The Seattle Times is reporting that Seattle finally cracked the top ten on the list of cities boasting the highest median rent, with a cost of $1,172 per month.

Between 2010 and 2013 rents here also saw the steepest increase of the top 50 most populous cities in the U.S., having risen by $113 per month (including utilities), or 11 percent. $1,172 is the median cost of what renters are currently paying in Seattle, so it does not reflect many newer apartment buildings that are listing un-rented units for much higher prices. Surprisingly, the number of renters in Seattle has kept pace with rising rents – in 2013 there were 307,000 renters here, a 13 percent increase from 2010.

Click here to see a chart of the top 10 most expensive cities for renters. If you would like more information on renting in the Seattle area, contact your local real estate agent today.

Laurelhurst Rental Home: $4,995

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This charming Laurelhust home is warm and inviting and full of character, and available for rent! The property is very private with a beautiful English Garden, and the interior has been carefully remodeled with an artistic eye for detail. Features include handmade Mosaic fireplace, and vaulted ceilings in the dining room and arched Spanish style in the living room. The kitchen is a dream for entertaining with a large gas stove. The home has distinctive hardwoods and custom mill work. Upstairs bedrooms are all light and airy, and each has a balcony. For more information on this, or other Seattle rentals, contact your local real estate agent today!

Status: For Rent
Bed//Bath: 3//3
Price: $4,995

Seattle Rentals April Real Estate Recap

King County rental activity dipped in April, compared to March with 306 leased properties, according to stats from the Northwest Multiple Listing Service.  However, this number ticked up from the same time last year, which was 295 leased properties in King County.  The market continues to stay strong, with 68 available properties within 6 miles of the downtown core with high price tags-the highest asking rent priced at $12,000 for a 2 br/2 bath penthouse in Belltown.

bellevue home

Rents continue to increase as the Seattle vacancy rates remain at a low 3.6%, according to an article from Seattle Rental Group.  This is up just .07% from the same time last year. For more information about Seattle rentals, contact me at anytime.

Current Stats On Seattle’s Apartment Rentals Market

nate rental dt

PubliCola has some interesting statistics on the Seattle rentals market, pulled from the April 1 city council planning committee meeting, where Mike Scott of the rental-market analysis firm Dupre+Scott gave his take on the situation. In summary:

– Supply and demand has affected rent fluctuation more than increased development has. According to Dupre+Scott, low housing supply has led to increased rents, and an excess of available apartments pushes rent down, in line with the classic supply and demand model.

– While average rent in the Seattle market as a whole has gone up in recent years, that is mostly due to the inclusion of newer apartment buildings that rent units at rates from $1,300 to $2,000 per month. Rents at older buildings (built before 2009 with rents between $800 and $1,300 per month) have actually risen at a slower rate than the cost of maintaining them has. The age of the building you choose to live in will often have a dramatic influence on what your rent will be: For apartments built in 1997 or earlier, the average rent is $1,100 per month, whereas rents in buildings newer than that average $1,700 per month.

– Think you’ll get more space for your money with those higher rents? Average square footage has actually decreased from 750 square feet in the mid-90s to 650 square feet today.

– More rental-housing development is happening in the city of Seattle than in the suburbs, and the trend seems to be toward smaller apartments in denser areas where public transportation is readily available and residents can walk to restaurants, coffee shops and grocery stores. In certain Seattle neighborhoods the number of apartments available for rent is growing by huge percentages. In Ballard, for example, the number of rental units available is expected to grow by 250 percent between 2009 and 2018, and downtown could see a 200 percent increase in the same time span.

Interested in renting in Seattle? Contact your local real estate agent for more information!

Washington Park Rental Home: $8,000

mad park

This freshly rebuilt  4 bed, 2.25 bath Washington Park Home is now available for rent! The home has outstanding views of Lake Washington and Mountain views from nearly every room, including views of Mt Rainer! There are three spacious bedrooms on the upper level, and the main floor has the kitchen, and family room, with a walk-out level lawn and terrace. The lower level has a rec room, and a nanny’s quarters, and the homes comes with a two car garage. There is also ample street parking, and the home is a stone’s throw from the popular Madison Park favored restaurants and shops. If you’re interested in this or other Seattle rentals, contact your local real estate agent today.

Status: For Rent
Bed/Bath: 4/2.25
Price: $8,000

Tips For Choosing the Perfect Sofa

Let’s face it, we spend alot of our time on the sofa, which makes it all that more important that you pick out the perfect one for you, that you’re going to love for a number of years. A sofa can be a hefty investment for many of us, so you’ll want to pick a comfy durable couch that you won’t get sick of, or resent buying within a short period of time. If you’re moving soon, the Seattle Times has compiled a list of tips on picking out the perfect sofa for your rental.

Don’t buy a sofa with loud fabric you’ll likely get sick of in a few years. If you choose a sofa with is covered in big floral or loud stripes that you enjoy now, you might end up getting sick of it before you wear it out, and a couch in good condition that you hate, is a resented one. Pick a neutral fabric you can jazz up with changeable accent pillows. If you MUST have a loud piece of furniture, you can certainly do so, but maybe choose a bright ottoman, or side chair. Don’t choose a fabric or color that is high maintenance; you’ll likely spill on it, dogs will shed hair, food crumbs will make their way into crevices…you’ll want something you can easily clean and make like new. Don’t buy a sofa you wouldn’t want to sleep on, you might have guests over, fall asleep watching TV, and it’s crucial you don’t buy a sofa until you sit in it like you would at home, and make sure the shoe fits! For more information on finding the right couch for your home, visit the Seattle Times.

Seattle Rental Rates Continue to Rise Through 2012

Are you currently a renter who believes you’re paying too much for your rental house on Queen Anne, your Ballard apartment, or your West Seattle condo? If you are not then consider yourself lucky because the cost of rent continues to rise as vacancies around Seattle continue to shrink. While rates are predicted to continue steadily rising through 2012, next year real estate analysts say the trend may come to a halt. 

Rent is continuing to rise in the King and Snohomish counties and according to the Seattle Times, several experts suggest these rates will continue to rise until next year, when a surge of current projects are scheduled to be completed, creating more vacancies around the city. According to the Apartment Insights Washington, the average monthly cost of rent in Seattle is currently $1,094, up 1.7% from last quarter. Our region is in the largest apartment construction boom we’ve seen in over two decades, and should expect rental rates to drop, or at least begin to rise more modestly after this year. For more information, please visit the Seattle Times.

Seattle Rental Rates Continue to Rise Through 2012

Are you currently a renter who believes you’re paying too much for your rental house on Queen Anne, your Ballard apartment, or your West Seattle condo? If you are not then consider yourself lucky because the cost of rent continues to rise as vacancies around Seattle continue to shrink. While rates are predicted to continue steadily rising through 2012, next year real estate analysts say the trend may come to a halt. 

Rent is continuing to rise in the King and Snohomish counties and according to the Seattle Times, several experts suggest these rates will continue to rise until next year, when a surge of current projects are scheduled to be completed, creating more vacancies around the city. According to the Apartment Insights Washington, the average monthly cost of rent in Seattle is currently $1,094, up 1.7% from last quarter. Our region is in the largest apartment construction boom we’ve seen in over two decades, and should expect rental rates to drop, or at least begin to rise more modestly after this year. For more information, please visit the Seattle Times.