#588 - Rents jump for single-family homes in Seattle area, but fall for apartments
News For Reasonable People
English - June 26, 2021 10:00 - 20 minutes - 14.5 MB - ★★★★★ - 7 ratingsInvesting Business Entrepreneurship san francisco trending news protests defund the police antifa blm seattle conservative republican journalism Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
It's more expensive to rent a single-family home this year in the greater Seattle area than last, but the cost of renting an apartment is dropping. In April, the cost of renting a single-family home was up 4.3%. Meanwhile, apartment rents dropped 11%.
The median price of a single-family home in the greater Seattle area was $2,811 in March, according to a report by CoreLogic, making it the fourth-most expensive rental market among the areas surveyed. Rents for single-family homes in Honolulu were the most expensive at $3,050, followed by Los Angeles at $2,962 and San Diego at $2,956.
Nationally, single-family home rents grew 5.3% year over year — the largest year-over-year increase in 15 years. A year prior, at the start of the Covid-19 pandemic, rent prices were up 2.4% year-over-year.
Join your host Sean Reynolds, owner of Summit Properties NW and Reynolds & Kline Appraisal as he takes a look at this developing topic.
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