Seattle Sees Persistent Demand for Apartments
According to Roger Valdez of Smart Growth Seattle, trends toward apartment living are not a passing fad, or some anomalous feature of the recession. "In Seattle, and all over the country, people are not buying single-family homes in the numbers we’ve seen in previous decades. And younger households are staying rental units longer."
Valdez cites a 2015 market study from the O'Conner Group, that says, "We predict 60% of all new households in the Seattle-MD will be renters (in 2016)." The forecasts, which extend to 2022, predict that number will decreasing only two percent in the intervening period.