Seattle Rents Rise, But East Side Is Pricier

It’s not a news flash that the real estate scene in Seattle has exploded in recent years. The Emerald City has gone from a town most people outside the state only associated with coffee and flannel, to the tech capital of the US (save for our friends in Silicon Valley). As home to some of the biggest tech names in the world and a booming job market to match, it’s fair to say there’s might not be enough housing to meet demand. Or, at least to meet demand AND your budget.

High rises, apartment buildings and condos are going up all over the city, and soon, our beloved skyline will be dotted with more and more buildings and towers, making the Seattle of just 10 years-ago look almost unfamiliar.

Seattle has recently made headlines as one of the most expensive places to live, get this, in the world. That’s right, recent data has placed Seattle’s rent rates at 5th highest in the nation and, supposedly 9th highest in the world! However, San Francisco and New York still dwarf us, tying for number one most expensive, world-wide.

Those of us who are Seattle Natives know that the average rental rate in Seattle has increased fairly dramatically in the last few years, but it’s interesting to note that, while Seattle’s rents have been on the rise, they don’t quite top the list of highest rents in the state.

According to recent data from Apartment List, Seattle ranks at number 5 in the state for highest rents, with the average monthly rent for a one-bedroom apartment at about $1,650.

Surprisingly, Mercer Island tops the list of cities in Washington for highest rents. A one-bedroom on Mercer Island goes for an average of a whopping $1,890 per month. No one said Island living was cheap, I suppose.

Filling in the gaps between number 1 and number 5 on the list are Bellevue at number 2 with an average of $1,860 per month for a one-bedroom (not a whole lot lower than their neighboring Island), Redmond at number 3 with an average of about $1,690 monthly rent for a one bedroom and Kirkland at number 4 with an average monthly rent of $1,660 for a one-bedroom.

Seattle and the Eastside are not the only places in Washington with rising rent rates. Tacoma tops the list nation-wide for fastest growing rent with a year-over-year growth rate of 7.7 percent. Seattle comes close, but not close enough to that figure with year-over-year rental rate growth at 5.3 percent.

Staggering growth aside, Tacoma is still a bargain in the rental market compared to Seattle, with a one-bedroom in Tacoma going for an average of $1,000 per month. For those of you keeping score, that’s a savings of $650 compared to Seattle.

But, proving that some things really don’t change, the cheapest places to live in the Evergreen State are still East of the Cascade Mountains. You can get a one-bedroom for only $600 per month in Walla Walla and it’s not much pricier in the State’s second largest city, Spokane, at around $630 per month.

What a difference a mountain range makes…

Paying for Parking in Kirkland??

The Kirkland Parking Board is proposing charging $1 per hour for parking in Kirkland from 9am-9pm at the two most popular lots and eliminating the 3 hour limit on daytime parking.  Right now the parking is free before 5pm and $1 per hour after 5pm.  Parking would remain free in the 339-stall garage located underneath the Kirkland Library.  The city manages 338-on street parking spaces and 586-parking lot spaces.  The is forecast to bring in around $100k per year.  The possible uses of this money would include maintenance of parking lots, rain shelters over pay stations, bright paint and security cameras at the Library garage and additional parking spaces in the future.  Kirkland employees are eligible for free all-day work passes at the Library Garage and others may park for free up to four hours.  If this proposal is passed this could start as early as this summer and Kirkland would have the most extensive paid-parking network on the Eastside.  In Bellevue and other cities on the Eastside have privately owned and operated parking lots and are free to retail customers.

Kirkland Car Show

Kirkland’s 9th Annual Classic Car show is coming up this weekend on Sunday, July 31 from 10:00 am to 4:00 pm.  Bring your Hot Rod out of storage and come on down to Downtown Kirkland this weekend to show it off and have a chance to bring home a trophy.  To learn more about this event and how to register your car, please go to explorekirkland.com.  This event is free to the public, so if you know any car connoisseurs let them know.

Canine Festival & Dog Walk in Kirkland Tomorrow!

 

 

Tomorrow (July 23rd), Kirkland will be having a Canine Festival & Dog Walk at 9703 NE Juanita Drive, Kirkland  between 9:00 am and 2:00pm.  To learn more about this event, please go to KirklandWA.gov.  I know I will be bringing my adopted dog (My wife’s parents dog) to this event because all the proceeds will benefit pet waste stations in Kirkland.