Dog eat dog: That was the rental market in greater Seattle a couple years ago. And now? With thousands of new units hitting the market this year, the rental market is cooler. Which is not to say that it is cold.
“Rents are slowing but not falling,” says Zillow Senior Economist Orphe Divounguy. “During the pandemic, rents were up 16% a year. This year they are up 3.8% as of July.”
Certain types of rentals are sitting vacant for a bit and property owners are offering concessions like free parking. For others, like a well-priced single-family home, competition is still stiff.
What has your experience been looking for a place to call home? We would like to hear from you. Have you battled it out for the Ballard bungalow of your dreams, but lost out to someone who had more money or didn’t have a pit bull? Or maybe you and your Great Dane sailed right into one of those new studio apartments.
Do you think Seattle’s strict landlord regulations have helped you get into a rental? Especially if you are out there right now duking it out to find a place to live, please use the form below to share your experiences, perspectives and tips.
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