Photo: Howard Ignatius/Flickr
The Seattle rental market is still on fire. The exact temperature of that heat varies depending on who you ask. In January, Seattle was ranked the 10th hottest rental market in the nation according to Zumper and the 5th hottest according to online realtor, Nested. Nested didn’t include Seattle in their global rankings, but if you add it (and Boston) in, Seattle would rank as the 9th most expensive rental market worldwide, reports KING5.
Zumper also released a handy map this month with a breakdown of the Seattle rental market by neighborhood. Not surprisingly, at a median of $2,370 a month for one bedroom units, the Central Business District was the most expensive neighborhood in Seattle to rent in this winter, according to Zumper. Pike Place Market ($2,180), Belltown ($2,000), and Pioneer Square ($1,900) were the next priciest areas.
Seaview and the International District had some of the fastest growing rents, both up over 10 percent since last quarter. The least expensive rentals, priced at less than $1,000 a month for one bedroom units, could be found in Rainier Beach, Holly Park and Riverview.
Overall, the price of one bedroom units this winter in Seattle settled at a median of $1,790 and two bedroom units came in at $2,470. Although rents were reasonably stable over this time period, the price of one bedroom units is up over 8 percent since this time last year.
Seattle landlords are feeling hot, hot, hot. Seattle renters are feeling cold, cold, cold. Perhaps the Seattle spring will be just right.