Seattle Rentals on the Rise

According to Bloomberg.com, U.S. apartment and rental vacancies have decreased over the last few months, which have allowed landlords and apartment buildings to increase their rental rates. There has been an increase in the number of families relocating to Seattle with companies such as Amazon, Fred Hutchinson, local hospitals, and other companies going through hiring frenzies. Many of these families aren't in a hurry to purchase, since they aren’t familiar with the Seattle neighborhoods, and aren't sure which would best suit their needs; almost all also have the luxury of temporary housing.  Larger companies tend to offer temporary housing which allows tenants the time to learn more about which neighborhoods they would prefer to live in, while simultaneously leading to a decrease in Seattle apartment vacancies. Owners of single family rental homes throughout the Puget Sound area have benefiting from those wishing to find their dream home, and opting for a house instead of an apartment. These owners benefit due to a lack of inventory and a large amount of people searching, which consequently has allowed landlords to obtain higher rental rates. To find more about Seattle Rentals, check out some current listings here.