Seattle is the largest city in the Pacific Northwest, surrounded by pristine waterways, two mountain ranges and three national parks. Its coastal location and the establishment of the Port of Seattle have long contributed to the city's success as a major economic center. Meanwhile, Seattle's natural beauty has attracted some of the most iconic Fortune 500 companies of the past decade, including.Amazon.com, Costco, Starbucks, Microsoft, and Nordstrom. Driven by growth in in the technology sector, Seattle has maintained a relatively strong economy even through the recession.
Demand for Seattle Rentals is on the Rise
Seattle's comparative prosperity continuously attracts a steady stream of people to the region, spurring demand for rental properties. With median house prices 40 percent higher than the national average, property ownership is out of reach for a large portion of Seattle's population, including the region's steady influx of new employees. Pair this with the fact that while new job creation is trending upwards, construction of new rental housing units has declined by nearly 80% in recent years, and you have the makings of an increasingly tight rental market. Owners of existing rental units have lately been able to raise rents substantially in response to rising demand.
Seattle Property Management Companies Can Help
With many Seattle property investors taking advantage of declining house prices and the hot rental market, professional property management has become increasingly important. Seattle property management companies help investors maximize returns on their income properties, while also attracting and keeping the highest quality tenants.
Seattle Rental Market at a Glance
Percentage of renters
Rental vacancy rate
Median house price
Finding Seattle Property Management Companies
Looking to hire a Seattle property management company? Type your zip code into our search widget to find companies who manage properties in Seattle---then request free quotes.