Condos for Rent in Seattle

Seattle has a total population of 724,745 and 46.20% of the population own their home. 53.80% of the occupied housing units are renters within the Seattle metro area. The median gross rent from 2014 - 2016 was $1,266. Today, the rental rate has risen 50.55% from 2016. Residents tend to be more long term with 77.10% staying in their residence for more than 1 year. For those who own a home, the median value of the house is $484,600.

The Seattle real estate market looks like it may be coming to end. The party is over as the say. According to the SeattleBubble blog, the for sale market within Seattle is starting to decline. From May to Sept of 2018, the sales prices of single-family homes in the Seattle area few 8%, the largest than any previous year.

The Seattle condo heat index is also showing a significant cool down. After hitting an all-time high in Q4 of 2017, the index has fallen to its lowest point since the first quarter of 2012.

Rental Rates in Seattle

The average rental rate for all rental properties within Seattle is $1,906. The rental rates by bedrooms is as follows. A studio is $1,427, a one bedroom is $1,884, a two bedroom is $2,258, and for three bedrooms, the rental rate is $2,559. The average sq ft for a rental unit is 736 sq. ft. With 3 bedrooms being about on average 1,243 sq. ft.

By neighborhood, the average rental rates in Seattle are as follows:

South Park - $1,161

Georgetown - $1,161
The Highlands - $1,293
Richmond Beach - $1,293
Innis Arden - $1,293
Zenith - $1,371
Woodmont - $1,371
South Des Moines - $1,371
Redondo - $1,371
Pacific Ridge - $1,371
North Central Des Moines - $1,371
Marina District - $1,371
Central Des Moines - $1,371
North Hill - $1,384
Ridgecrest - $1,443
North City - $1,443
Briarcrest - $1,443
Ballinger - $1,443
Victory Heights - $1,513
Pinehurst - $1,513

Seattle Data

Demographics

The total population under the age of 18 is 20.30%. While those over 65 is 11.90%. Women make up 49.90%, while men make up the remaining 50.10%. 69.20% of the population is White, 6.60% is Latino and 7.10% African American.

Education and Economy

13.00% of the population in Seattle is considered to be at the poverty level. The education level is rather high with 93.90% with a high school degree or higher. The median annual household salary for Seattle is $74,458 with 50.92% of all businesses within the city being owned by men, while 35.54% are owned by women and 19.86% of businesses are minority owned.