Seattle Real Estate Trends – By The Numbers

The Seattle Area by the Numbers

#1 Apartment Rent Growth in US  The Census Bureau reports median apartment rents have soared 11% between 2010 and 2013 and rents in downtown Bellevue are now higher than San Francisco.

#2 Technology Growth in US  Jones Lang LaSalle reports the metro area now employs more than 120,000 high-tech workers, second only to San Francisco.

#3 Lowest Unemployment in US  Seattle area dropped to 4.8%, its lowest level since August 2008 and third lowest of major metro areas in the US.

#4 Tightest Office Market in US  Since 2010, the Seattle and Bellevue commercial markets witnessed 9.4 million sq. ft. of occupancy gains with 1.7 million sq. ft. currently under construction, resulting in just 11.5% vacancy.

Washington’s Population Growth Nears 7 Million The Office of Financial Management reports the highest annual gains since 2008 with the majority relocating to the Central Puget Sound region.

Forbes Ranks Seattle #2 “Coolest City” in US Populous cities ranked on arts, culture, recreation, diversity, local eateries and youthful population.

Bellevue Ranked #2 “America’s Best Cities to Live” 24/7 Wall St. reviewed data on 550 US cities based on crime, employment, education and housing.

Seattle “Top 10” Relocation Market in US  Ranked #7, Money says new residents are drawn by strong job growth, especially in high tech segments making it also among the “Best Real Estate Markets in the US for 2014”, according to the Urban Land Institute.

Seattle “Smartest City in North America” With high quality schools and an ability to attract creative and entrepreneurial talent, Seattle earned Fast Company’s top ranking.

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