Low vacancies, rising rents and a cooling condo market has made Seattles apartment market more appealing to out-of-state investors, according to a report just released by Marcus & Millichap.
– Over 34,000 jobs are expected to open in 2008
– Vacancy rates are expected to be at 4.7% by the end of the year
– The average rental rate is expected to reach $1023 per month- a 6.2% increase from last year
Also, check out the National Apartment Associations Housing Survey on how renters feel about our real estate market- 69% of renters plan on continue renting for as long as 5 more years!