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Seattle-area rents drop significantly for first time this decade as new apartments sit empty

SEATTLE TIMES (January 12, 2018) – Rents are dropping significantly across the Seattle area for the first time this decade, as a flood of new construction has left apartments sitting empty in Seattle’s hottest neighborhoods.

Rents sometimes drop by a few bucks this time of year. But the latest quarterly drop is the biggest this decade by far, and amounted to a savings of about $50 a month for the average renter across the region.

In neighborhoods in and around downtown Seattle, the dip equates to an average of $100 in monthly savings for renters signing new leases.

Read more here.

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