Posted by: phillipsre | January 14, 2014

Rents in Seattle Area Stabilize

apt_for_rentFor a lot of renters in Seattle, it may have seemed like rents in 2013 were increasing in every neighborhood in the area. Recent reports out this month confirmed that after rents had climbed  3 percent in 2013’s second quarter and 2.4 percent in the third, the average monthly rent in the Seattle metro market actually dipped in the fourth quarter by $5, according to Seattle-based Apartment Insights Washington, which tracks rents, vacancies and concessions in the Puget Sound region. Check out the full article from the Seattle Times to see  the average rent is for different areas are in Seattle and what you can expect for rent prices in the coming months. Despite these reports it looks like rental prices in Ballard have gone up and Bellevue is the region’s most expensive city for a one-bedroom apartment, with rent at $1,434 a month.

If you are looking for a rental property, check Phillips’ Rental Search page for new properties on the market.

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