Surprise! Rent's are going up.
May is right around the corner and the rental market is already heating up. From early May to late September the Seattle market sees the majority of it's renter turnover. Good news is more available apartments. Bad news is everything get's more expensive.
In the past week I have read three articles talking about skyrocketing rents. They don't all pertain directly to the Seattle market, but it's good to stay aware of the hive mind that connects property managers and apartment renters.
I will post the links below. In short, rent is going up. There isn't much being done to bring them back down.
It's going to be an interesting rental season.
The title of this first article is pretty scary. Seattle is historically on the latter end of most real estate booms. I guess this time we want to be a leader.
Seattle isn't mentioned in this next article, but our growth here isn't much different than what San Francisco is going through. Income gaps are growing and rents are jumping across the board.
This last one is a bit different. Danny Westneat is calling for more control on our current building boom. I think it's worth a read.
What do you think about these articles? Are you feeling the pinch? How are you planning for your next move? Are there other articles I should be reading? Please leave me a comment below or shoot me an email.