Apartment rents in King, Snohomish counties jump 5 percent in 3 months
Apartment rents for new leases in King and Snohomish counties jumped nearly 5 percent in the second quarter and almost 10 percent over the past 12 months, according to a new survey. In the second quarter, the average rent for new leases was $1,405, up $124 from a year ago, market- research firm Apartment Insights Washington reports . The firm tracks rents , vacancies and concessions at apartment complexes with at least 50 units. The annual rent increase for the latest period was the largest seen locally since Apartment Insights began tracking the market in 2005. It also is well ahead of the national average : Texas- based MPF Research said U.S. apartment rents soared in the second quarter and climbed 5. 2 percent annually , a 15-year high. Most Read Stories Unlimited Digital Access. $1 for 4 weeks. “While apartment rents are rising at a significant pace all across the country, the nation’s average price increase is being skewed quite a bit by the surging rents in the Western re...
