Bellingham’s rental rates are climbing faster than Seattle’s — here’s why

Rents in the Seattle area are rising about four times faster than the national average and have topped $2,000 a month

But home prices are rising faster here than anywhere else in the country – growing even faster than rents – and there is a historic shortage of homes for sale. So many would-be homebuyers are.

Spokane has a 2.9 percent apartment vacancy rate with an average rental rate of $886, according to a September 2017 report by University of Washington’s Runstad Center for Real Estate Studies.

Rental rates are still climbing – but a bit more slowly than in previous months. Nationwide, the cost of renting a single-family home grew by 2.9 percent, to an average of $1,455, in November, according to the latest data from CoreLogic released Tuesday. By contrast, rent prices had grown by 3 percent the previous month, 3.2 [.]

Other submarkets, including Seattle. ceiling on rent growth,” said Ryan Severino, senior economist and associate director of research for Reis, Inc., also a provider of commercial real-estate.

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An Insider’s Guide to Moving to Seattle.. The cost of rent in Seattle has risen faster than in any other major city in recent years and now ranks as tenth highest in the U.S., according to the Census Bureau.. Seattle Credit Union can offer better rates on loans,

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Why I had to flee my $2,600 Bay Area rental for Seattle’s cheaper’ pastures Listening to people in Seattle complain about rents reminds me of the chatter around San Francisco. But to my mind, the.

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Despite growing at a faster rate over the last year, Bellingham’s average rental costs are still lower than Seattle’s by a noticeable amount with an average rental rate of $1,623 compared to $2,204. There are two key reasons that Bellingham’s rental rates are increasing at a faster overall percentage rate than Seattle’s.

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Only one city had high income growth that matched rent increases – Austin, TX. Rents in Austin rose rapidly from 1980 – 2014, but incomes grew even faster. Austin’s population has more than doubled since 1980, causing rents to increase by more than 40%, but real incomes increased even faster.

median rent in the Mile High City isn’t rising as quickly as it is in Colorado and the U.S. overall. Also on the positive side, rents in several other major cities have been climbing more quickly than.

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