Seattle Apartment Rents Market Update
Rob Gasca • October 14, 2021
The Seattle Apartment Market continues to climb with rents bouncing back by 11% since the beginning of the year, concessions almost eliminated, and development on the rise again, with 22K units in the supply pipeline!
As we have seen over and over again with the Seattle Market, we are always one of the last to fall, (and fall hard I might add) and one of the first to REBOUND! The Seattle Apartment Market continues to climb with rents bouncing back by 11% since the beginning of the year, concessions almost eliminated, and development on the rise again, with 22K units in the supply pipeline!
What can we expect as industry experts and leaders in the months/year to come. Well, with the proposed "rent control" efforts on the mayor's desk requiring ownership to provide 180-day notice for rent increases coupled with the expectation to assist with move out costs for those who increase is 10% or and can't afford the proposed new rent, a lot of strategic planning is going to be needed for landlords and investors to be successful. Let us help you how we can help you with that. Our team is experienced (over 20 years), driven, and proactive while staying on top of the ever-evolving landlord laws within the City of Seattle and the State of Washington in general.
Read more at https://www.costar.com/article/682426259/seattle-apartment-rents-continue-upward-trajectory
Source: CoStar Group
On May 7, 2025, Governor Bob Ferguson signed House Bill 1217 into law—ushering in Washington state’s first-ever statewide rent stabilization policy. The new law aims to address rising housing costs and provide more security for renters, who make up nearly 40% of the state’s population. Here’s what you need to know:
Cap on rent increases across Washington state is signed into law
Statewide Rent Control Bill Awaiting Governor's Signature
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