Posted by: phillipsre | January 21, 2016

Positive News For Seattle Landlords

home-for-rentA recent report from Yardi Matrix ranked Seattle third on a list of metro areas with the largest rent gains in 2015. This article from the Seattle Daily Journal of Commerce, states that Seattle showed multifamily rent gains of 10.5 percent, behind Portland (14.8 percent) and Sacramento, California (10.7 percent). The Matrix survey covers 111 markets.

Rents averaged $1,165 nationwide in December, $1 less than the all-time peak reached in September and October, which is consistent with normal seasonal patterns. The report predicts that rents will cool down a bit for 2016, but will still remain above the average rent that we have seen in the past 8 years. Which of course is great news for landlords and property investors, for tenants and those looking for affordable housing, Seattle might not be the best market for a inexpensive rentals.

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