Looks like the recent Trulia Rent vs Buy Index still has the greater Seattle area rated more economical to rent…though I think there’s a huge variation by neighborhood and community. Anecdotal evidence indicates rents are on their way up in many in-city neighborhoods. There’s a huge number of new apartment buildings under construction in Seattle – when these come on line, supply will be greatly increased and rents are bound to go down some. To look through the index info, click here Trulia Rent vs Buy Index results
Seattle and the Trulia Rent vs Buy Index
April 30, 2011 By
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I agree, it’s not bad that it’s considered more economical to rent than buy – there are a lot of people needing affordable rentals out there. And home ownership is not the answer for some people. It’s just that rents are definitely going up, not down, in some neighborhoods. Think the Sunday May 15 Seattle Times had an article about rents rising on the first page of the Real Estate section.
That’s not a bad thing to me (not saying that you are indicating it is bad either) with all the new renters coming on the scene from the short sale and foreclosures happening it is goo to know that Seattle rents are staying reasonable.