According to Seattle-based Apartment Insights Washington, rents on new leases in King and Snohomish counties rose 6.8 percent from a year ago in the first quarter of 2014.
Average rents for a one-bedroom in different Seattle neighborhoods are as follows:
Downtown - $1797
Ballard - $1356
Central District - $1347
Queen Anne/Magnolia - $1344
Green Lake/Wallingford - $1336
First Hill - $1334
Capitol Hill/Eastlake - $1305
West Seattle - $1161
University District - $1158
North Seattle - $1016
Rainier Valley - $981
More than 80 percent of multifamily properties in Seattle and King County plan to raise rents in the next six months by an average of four percent, according to Dupre+Scott Apartment Advisors.
It is a landlord's market in Seattle!
Happy Investing!
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