Seattle apartment rents to cool down
Axiometrics, a Dallas based company, said its analysis shows the average rent will increase 2.8 percent next year. It continues a downward trend. There was an 8.5 percent increase from November 2014 to November 2015 and a 5.3 percent increase from November 2015 to November 2016.
every market that experienced robust rent growth the past few years has moderated; Seattle is just moderating later than most, said Jay Denton, Axiometrics senior vice president of analytics, in a statement supply is likely to hit its peak for the cycle next year, just at the time job growth is expected to tail off. if the moderation materializes, it too late for renters like Travis Becker. He, his partner, and their 3 month old baby are moving away from Capitol Hill to get more space for about the same price.
"You certainly don see anybody getting any price breaks," said a skeptical Becker, recalling several years of landlords hiking up rent about $100 a year, like clockwork. "Eventually our cheap studio wasn that cheap anymore."
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