According to data released by Dupre + Scott to the Seattle PI, a typical Seattle rental house now costs $1,604 a month, up 4.6% from a year ago. In general, the trend is similar to that for apartments. Apartment-to-condo conversions decreased the supply of rentals and an increase in local job growth are some of the reasons for the increase in rental prices. Read more.
Seattle Mayor Greg Nickels has plans for a $300 million “Civic Square” that will include a 32-story condo and office high-rise. Read more.
(Update 03/28/2008 :Civic Square will feature an open plaza with an amphitheater, water features, retail space, a Metro/Light Rail station and a 40-story office & residential tower. The curved lower 22-levels will house office space and the upper 17-levels will be condominium homes.)
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“a typical Seattle rental house now costs $1,604 a month”
In their dreams. Rents are nowhere near that in Seattle.
Ooops – didn’t see the qualifier “house”. But to put it into perspective, I was paying $1,000 for a 1bd apartment on the San Francisco penninsula in 1994, and was lucky to find it (no view, not luxury).
I’m afraind the houses are going to be expensive more and more toronto luxury condos
Any updates on the condo scene in Seattle?
Wow! The Civic Square sounds fantastic — keep the updates coming! 🙂