Rental Values in Seattle Area

What’s Ahead for NW Rental Prices?

Per a recent bulletin published by the Northwest Multiple Listing Service, Rents in the greater Seattle area may rise by as much as 4 percent this year.

Rental Values in Seattle Area

Nearly 4,000 single family units rented through NWMLS in 2013,

however it’s expected shrinking inventory and increased demand from marginal buyers will continue to put pressure on values. Many homeowners were forced into the role of Landlord when values plummeted. As more and more of those underwater properties begin to creep into positive equity positions, owners are opting to liquidate rather than renew leases.

Bringing it local, here’s a snapshot of the 2012 Rental Market in Renton compared to 2013.

A basic 3 BR 2.5 Bath home in 2012 leased, on average for $1610 per month. Total numbers equaled 280.

For 2013, the same 3 BR 2.5 Bath model averaged $1702 per month. Total numbers equaled 276.

For those who can and are willing to hold onto those investment properties, 2014 may just bring some healthy returns.

And if you’re thinking about becoming a Landlord this year, or in the near future, here’s a blog article you might find helpful. Or you can always call and we’ll be happy to answer your questions or point you in the right direction.