January 2nd, 2014 8:04 PM by Sam Kader
Here were the asking monthly rents for a one bed-room, one-bath apartment in November 2013, before landlord concessions, ranked by city population.
Apartment rents in the Seattle area rose faster than in any other 81 major U.S. metros. Rents here grew twice as fast as the national average of 2.6 percent led by booming local job growth.
Top annual increases in rent
Rents asked by landlords as of June 2013
1. Seattle: 6.0 percent, to $1,150
2. Nashville: 4.2 percent, to $815
3. San Jose: 4.2 percent, to $1,698
4. Houston: 4.1 percent, to $853
5. San Francisco: 4.0 percent, to $2,070
6. Portland: 3.9 percent, to $905
Source: Seattle Times analysis of Reis data
The vacancy rate in King County last spring was 3.32% - the lowest since 1998, and about 42% of housing units were renter occupied in 2011. In Seattle 54% were renter occupied. Current demand for apartments in the Seattle area is stunning. There were 10,034 more occupied units in June than a year earlier putting the region second only to Houston in the umber of units added over the past year. Check out if you are paying an average rent.
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