Report: Renters are flocking to Seattle from Portland
A new report ranks Seattle among some of the most desirable metropolitan areas in the nation for renters on the move from other cities.
In a ranking from Apartment List of the 25 largest metro areas attracting renters from elsewhere in the country, Seattle placed 7th. The Emerald City boasts 37 percent of “inbound searches coming from out-of-metro,” directly behind Boston at 38 percent, and tied with Charlotte, North Carolina. Topping the list is Denver at 48 percent.
In terms of where Seattle’s newly-minted transplants are coming from, it’s Portland leading the charge. Twenty-two percent of the city’s inbound searches are from our southern neighbors just across the Washington border. Coming in at a distant second and third for inbound searches are Los Angeles (4.5 percent) and San Francisco (3.4 percent).
Apartment List also ranked the 25 largest metro areas in terms of renters looking to leave, a list where Seattle came in at 20th, directly behind Dallas and ahead of Houston. The city has just 23 percent of outbound searches leaving the Seattle area. The city with the highest rate of outbound searches was Orlando, Florida at 50 percent.
People searching for apartments out of the Seattle metro area are looking east before anything, with 7.5 percent of outbound searches residing in Spokane. 6.5 percent are looking at Portland, while 6.3 percent are turning to Los Angeles.
This all comes despite Seattle boasting some of the highest rental rates in the nation.
Additionally, an end-of-decade study from RentCafe showed that despite Seattle having the smallest apartments in the nation in average square feet, rent prices shot up 77 percent between 2010 and 2019. That’s the second highest increase out of all major metropolitan areas in the U.S.