Across the West Sound, rent continues to climb
Housing costs in the West Sound have dramatically risen in recent years, with rental hikes outpacing inflation and median wage increases. Last year was no different, as rents in Kitsap County continued to climb.
Average rent in Kitsap grew more than 10% at the end of 2019 compared with the year prior, capping a 60% increase in the past six years. At the start of 2020, rental costs have slightly decreased, according to quarterly reports from the housing research firm Yardi Matrix.
The average apartment now runs about $1,500 per month. In 2014, it was less than $1,000. For many renters, those prices have compounded an already difficult search for an affordable place to live.
Bainbridge Island’s rental rates, which were already the highest in Kitsap, saw the largest increase: rent increased more than 16% last year. That’s partly the result of new rental units coming online — including a 107-unit apartment complex, thought to be the Bainbridge’s largest — which can have a significant effect because of the city’s small number of rental properties
https://www.msn.com/en-us/money/realestate/across-the-west-sound-rent-continues-to-climb/ar-BB10aNyk?ocid=hplocalnews
