As title. I am looking to move to a new place. Rent prices were low the last couple of 3-6 months. Lately I have noticed a surge in prices especially at Redmond - Kirkland. Whoever rented or trying to rent to REDMOND, Bellevue, Kirkland and Bothell area, what is your feedback from search? Do you see similar trends? Not sure honestly how prices are kept that high with so many layoffs at the area.
It’s ridiculous right now. Makes me want to rent strike TC 100k
When interest rates go up and housing prices are still unaffordable ie people can’t afford housing.. they have to rent. Rent prices go up Ggs
“Not sure honestly how prices are kept that high with so many layoffs at the area.” In your mind how total people have been laid off in the area and what % of the area’s population to you think that makes up?
I am not sure about that. But Kirkland and Redmond area’s rentals are fed by tech workers. So I expect at least a limit at the price increase
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Renewed lease in beginning of January, rent has now gone up 7%.
This is crazy given the current economic trends. Also I don’t know if it is sustainable. Like how can they ask like for $5,500 for a 3 bedroom house at Kirkland or even Bothell.
A lot of apartments are also trying to still offset their Covid losses by pushing up prices for renewals and new leases. Mine jumped $500 a month last year, and now asking for another $200+ this year. I don’t want to renew, but elsewhere is even more expensive plus cost & hassle of move. I don’t live in fancy high rise. It’s ridiculous but can’t afford houses in Redmond (almost in Sammamish really)… so here we are 🤷♀️