Friday, November 12, 2010

King County Apartment Vacancies Decline

Tom Cain of Apartment Insights reported that the apartment vacancy rate on 50+units in King County declined to 5.6% in the third quarter of 2010, down from 6.1% in the second quarter. The strongest submarkets with just under 4% vacancy included Bellevue East and Capitol Hill. Class A properties have the best occupancy rate, and are only 5.1% vacant in King County.

The median monthly cost of housing in the Seattle metro area was $1320 in 2009, compared to the national median of $922. The Seattle metro area ranks in the 70th percentile nationwide in monthly housing costs.

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