The rental market for a single-family home in Washington has gone up significantly
By Liza Alley
K5 news explains in this article how the rental market for a single-family home has gone up tremendously in King, Piece as well as Snohomish county.
According to Redfin, the average monthly cost of rent for a single-family home in King County rose $345 from May 2020 to May 2021. Rent increased $300 during that same time in Pierce County and increased $200 in Snohomish County.
A breakdown of average single-family home rental prices for the three counties is below:
- May 2020: $2,650
- May 2021: $2,995
- May 2020: $1,800
- May 2021: $2,100
- May 2020: $2,250
- May 2021: $2,450
What is not mentioned in this article is how there is also a lot of competition for rentals as well. With that a lot of people are taking advantage of the low interst rates and feeling a lot more motivated to buying a home instead. Here is how I can help you buy a home