What’s going on with the Seattle rental market right now, in August 2024? Join Aaron and Diane for a quick look at some key numbers in your Seattle Rental Market Update! Watch the video below, or scroll down a bit farther to read a transcript of the video.
Rents Up Nearly 10% In King County
This graphic shows us information about the rental market in King County, Washington, for the 12-month period ending in August 2024. Specifically, this image is comparing the number of Days On Market – 23 – vs the Vacancy Rate – 3.6%.
Video Transcript – August 2024 Seattle Rental Market Update:
Aaron Janus: Happy August everyone!
Okay, let’s talk rental market, shall we? Our property management team has their pulse on the Seattle area rental market. So for those of you who are currently renting or interested in owning rental property and curious about rental rates and what all that looks like in the area here are some stats for you.
As you can see here in this chart (in-line, above), vacancy rates in King County are down almost a tenth of a percent year-over-year at around 3.45 percent. Average days on the market are pretty consistent over the last few months at around 23 days. With regard to rental prices – an average rent on a three bedroom single-family home in King County sits at around $4,400, which is about 10 percent higher than it was a year ago.
And feel free to reach out to us anytime if you want a more detailed market analysis for a property, you’re thinking about turning into an investment. Or, if you want to have a bit more fun, JG Design Solutions can give your home a fresh update, whether you’re planning to purchase, sell, or rent it out.
And of course if you’re thinking about buying or selling we can dig into those sales numbers as well.
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