KIRO Radio's Tom Kelly digs deep into the Puget Sound real estate market
Real Estate

Seattle's residential rents continue to soar

Monthly rents on Seattle-area homes and apartments continue to climb, taking a bigger chunk out of household incomes, according to market-research firm MPF Research.

Seattle ranked number four on the top-10 list for the largest rental hikes in the past year - up 6 percent over the second quarter of 2012.

MPF Research directed investors eager to pick up rental properties to look West where several metros' rental rates have skyrocketed over the past year.

The San Francisco Bay Area has seen some of the largest rent hikes - an increase of 7.8 percent in the second quarter of this year compared to the same time period a year ago, according to MPF Research.

Of the top 50 U.S. metros with the highest average rent growth, the following areas have seen the biggest spikes, MPF found:

San Francisco: 7.8 percent
Oakland: 6.9 percent
Denver: 6.1 percent
Seattle: 6 percent
San Jose: 5 percent
Portland: 4.4 percent
Houston: 4.3 percent
Austin: 4.1 percent
West Palm Beach: 4 percent
Fort Worth: 3.6 percent

Top Stories

  • Trial Beginning
    Twelve Seattle police officers will begin using new body-worn cameras next week

  • Week in Photos
    Penguins, cheetahs and Santa make it in this week's photos
ATTENTION COMMENTERS: We've changed our comments, but want to keep you in the conversation.
Please login below with your Facebook, Twitter, Google+ or Disqus account. Existing MyNorthwest account holders will need to create a new Disqus account or use one of the social logins provided below. Thank you.
comments powered by Disqus
Listen to the show
Hear Real Estate Today on KIRO Radio
Join Tom Kelly every Sunday at 9am on KIRO Radio to talk Puget Sound real estate.

Sign up for breaking news e-mail alerts from MyNorthwest.com
In the community
Do you know an exceptional citizen who has impacted and inspired others?
KIRO Radio and WSECU would like to recognize six oustanding citizens this year. Nominate them to be recognized and to receive a $2,000 charitable grant.