Seattle renters have spent $80 billion on rent throughout the decade; $10.1 billion in 2019 alone
Last edited Wed Dec 18, 2019, 10:03 PM - Edit history (1)
Seattle renters spent a total of $10.1 billion on rent throughout 2019, a 4.1% increase over 2018, a new report found.
The analysis from Zillow found over the past decade from 2010 to 2019, renters in Seattle spent a total of $80 billion on rent. That represented a 71.2% increase since 2010 in total rent paid in Seattle.
Rent in Seattle has continued to rise over the past several years, making the city one of the most expensive in the country and spurring a homelessness and affordable housing crisis in the area.
According to the study, renters across the country spent a total of $512.4 billion on rent throughout 2019. That's about 3% more than U.S. renters spent in 2018.
https://www.msn.com/en-us/news/us/seattle-renters-have-spent-dollar80-billion-on-rent-throughout-the-decade-dollar101-billion-in-2019-alone/ar-BBY8cCb
Seattle among US metros that saw largest rent increases in past decade
The Puget Sound region is just outside the top 10 metro areas in total rent paid but just inside the top 10 for highest percentage rent increase over the past decade.
A recent report from Seattle-based Zillow looked at the rent increases for 50 largest metros in the U.S. and ranked the Seattle area 11th in rent paid for 2019 at $10.1 billion. That's a 4.1 percent year-over-year increase, which is ninth on the list.
According to the report, the percentage rent increase for Seattle was even higher than in San Francisco, which typically tops the nation when considering actual monthly rental prices. San Franciscans paid $16.4 billion in rent this year, an increase of 2.3 percent compared to 2018.
Nationwide, renters spent a combined $4.5 trillion during the 2010s with $512 billion spent on rent in 2019 alone. While rent is up 2.3 percent from last year, overall rent increases slowed in the latter part of the decade, Zillow (Nasdaq: ZG) said.
https://www.bizjournals.com/seattle/news/2019/12/17/seattle-among-us-metros-that-saw-largest-rent.html?ana=e_me_set1&j=90366211&t=Morning&mkt_tok=eyJpIjoiTTJFek5ETTFZMk5sTUdVdyIsInQiOiIrVmNuOWpVV3FLb3NNMHdjYW55N1Z6dkcyUUJUUERMcDZ4SnZ2MFNLbnhMZWlhNk1xTG14V2hFM3FicmpWT2NaR0c4OEpNRXVhUzhSTHNVVXhINTZXM21mNHhcL2JkMm5mc0Q3d1hoUEU1U08zR2V6ZDBwc1FhejRjTkMzZGVRNlEifQ%3D%3D
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