Demand for apartments roars back to life in Seattle area

[Yo_Mama_Been_Loggin]

To most lay people, starting construction of apartment buildings last year seemed foolish. With some parts of the economy grinding to a halt and sending the unemployment rate soaring, who would move into the buildings and when?

The rental market in King and Snohomish counties ended 2020 with nearly 7,100 fewer occupied apartments than at the start.

But demand started to boom earlier this year and then accelerated, with renters filling nearly 18,000 existing units plus another 3,000 new ones, according to Commercial Analytics, a Seattle company that surveys landlords to track market trends.

Seattle saw net demand drop by more than 7,800 units in 2020 but then rebound to fill around 11,275 units from January through June.

https://www.bizjournals.com/seattle/news/2021/07/08/apartment-demand-roars-back-to-life.html

[LisaM]

1. Ugh.

Our rent did not go up last year, but I suppose now it will. It's so depressing.