Rising Rents in Seattle are Fastest Growing in US

Rising Rents in Seattle are Fastest Growing in US
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Succeed in competitive rental market with financing from hard money lenders

It’s official. Rents in Seattle, Washington are rising at a faster rate than in any other major city in the country.

As reported by the Seattle Times, typical monthly rent has surpassed $2000, up 9.7 percent in the last year and growing nearly four times the national average. Though thousands of new housing units are currently under construction, the Puget Sound region’s housing shortage is being felt by renters in the metro area who pay increasing percentages of monthly take home pay on their housing.

Renters may be feeling the pinch, but Seattle’s hot rental market is a boon for landlords. For those not yet in the rental market arena, now is an optimal time to invest.

Rental property investment is smart in a high demand market

The Seattle/Puget Sound’s highly competitive real estate market presents a challenge to anyone hoping to enter the rental property scene. To be successful, you need to be aware, assertive and ready to roll with cash in hand, whether with a property purchase or renovation. We can help with a hard money equity loan. Our Gregory M. Russell team provides experienced loan services throughout Washington and the Pacific Northwest. Give us a call to learn more. 1-888-477-0444.