Most rents in Seattle area stagnate — but drop for cheaper apartments and those in West Seattle


The Seattle Times (June 10, 2020) -- The coronavirus pandemic has caused most rents in the Seattle area to stagnate, though they’re falling for the least-expensive apartments, according to data from analytics firm RealPage. One neighborhood — West Seattle — is seeing especially sharp cuts, according to landlords and property managers, though not just from the pandemic.

Overall, in the Seattle-Bellevue-Everett area, May asking rents were nearly the same as they were a year ago, averaging just under $1,900, whereas before the pandemic, rents were up nearly 5% year-over-year in the area. RealPage looks at effective asking rents, which include advertised discounts offered by landlords and property managers to entice new tenants to ink a deal, like one month of free rent.

Read more at: The Seattle Times