January 9th, 2015 4:40 PM by Sam Kader MLO130505
Homeownership is at the lowest level since 1965 indicating rising property prices, high rents and stagnant pay. Here are the average asking monthly rents for a one-bedroom, one-bath apartment in May 2015 (not including utilities) in Washington state: . Seattle $1,445 . Bellevue $1,635 . Kent $848 . Everett $1,048 . Renton $1,058 . Federal Way $825 . Kirkland $1,359 . Redmond $1,347 If you are afraid of becoming a homeowner - let me share with you some of the myths of becoming a homeowner:
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 number of units added over the past year. Check out if you are paying an average rent. Rising rent makes it easier for homeownership.
Above all - let me show you how easy it is to achieve the American dream. Your first step is to obtain a Pre-Approval. Call me for your free consultation.