Seattle, Bellevue see significant rent decreases amid coronavirus pandemic
Although housing prices have been going up during the coronavirus pandemic, rent prices in Seattle have been experiencing just the opposite.
According to a new study from Insurify, Seattle and Bellevue have experienced some of the largest declines in rent prices across the country since the start of the pandemic. From March of this year, both cities saw rent prices drop by about 10%, ranking No. 16 and 17 on the list.
"In a year where staying at home has never been more of a priority, real estate markets across the United States have seen major fluctuations in demand, with the pandemic only furthering the divide between homeowners and renters in the United States," the study said.
"Cities across the country are displaying diverse responses to the COVID-19 pandemic and the economic shutdown that followed. While some large cities are doing relatively well at keeping case numbers flat and investing in the revitalization of local businesses, it's undeniable that city living is markedly different from what it used to be."
https://www.seattlepi.com/realestate/slideshow/Seattle-Bellevue-see-significant-rent-decreases-211008.php
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