Demand for housing in and around Seattle is way up—so much so that the region led the entire country in the number of apartments it has filled so far this year.
"The Seattle area is filling up new apartments faster than any region in the country, suggesting demand for housing is starting to catch up with the record construction boom," reports Mike Rosenberg. The news is "not a great sign for tenants hoping landlords get desperate and drop rents," adds Rosenberg.
Specifically, 10,000 extra apartments units got tenants in the 12-month period ending in March. In the first three months of this year, Greater Seattle filled about 3,400 new apartment units, more than any other city in the country (not even New York City could keep up).
The data from real-estate data firm RealPage reveals the next chapter in the narrative of simultaneous building and population booms in Seattle.
The new figures offer fresh insight into the years-long, multibillion-dollar experiment being waged by developers as they build more apartments in the city of Seattle this decade than in the previous half-century combined, betting on the long-term economic health of the region. Will enough renters eventually materialize to fill them, or will the city have a skyline of empty ghost apartments?
For while it looked like perhaps Seattle developers had built beyond the demand for housing in the region, but now housing is filling up as quickly as it can be built, according to Rosenberg.
FULL STORY: Renter boom: Apartments filling up faster in Seattle area than anywhere in the U.S.
Commentary: San Antonio Needs ‘Thoughtful Reforms’ to Improve Affordability
The growing Texas city needs a new approach to meet its residents’ housing and mobility needs.
Texas Housing Market Starting to Resemble the California Housing Market
The hordes of people moving to Texas every year could soon encounter the same kinds of housing affordability challenges they left behind.
Renters Now Outnumber Homeowners in Over 200 US Suburbs
High housing costs in city centers and the new-found flexibility offered by remote work are pushing more renters to suburban areas.
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
Congressman Proposes Bill to Rename DC Metro “Trump Train”
The Make Autorail Great Again Act would withhold federal funding to the system until the Washington Metropolitan Area Transit Authority (WMATA), rebrands as the Washington Metropolitan Authority for Greater Access (WMAGA).
The Simple Legislative Tool Transforming Vacant Downtowns
In California, Michigan and Georgia, an easy win is bringing dollars — and delight — back to city centers.
The States Losing Rural Delivery Rooms at an Alarming Pace
In some states, as few as 9% of rural hospitals still deliver babies. As a result, rising pre-term births, no adequate pre-term care and "harrowing" close calls are a growing reality.
The Small South Asian Republic Going all in on EVs
Thanks to one simple policy change less than five years ago, 65% of new cars in this Himalayan country are now electric.
DC Backpedals on Bike Lane Protection, Swaps Barriers for Paint
Citing aesthetic concerns, the city is removing the concrete barriers and flexposts that once separated Arizona Avenue cyclists from motor vehicles.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
Smith Gee Studio
City of Charlotte
City of Camden Redevelopment Agency
City of Astoria
Transportation Research & Education Center (TREC) at Portland State University
US High Speed Rail Association
City of Camden Redevelopment Agency
Municipality of Princeton (NJ)