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Half of Seattle residents lived in rentals in 2018. Seattle had its highest percentage of home ownership in the 1960s when two thirds of all residents lived in owner-occupied residences. Per census data, since then the percentage of renters has been steadily increasing. Between 2013 and 2018, the number of renters increased by 16%. This is largely because 75% of new residents are adults under 40, many of whom aren’t able to purchase and/or are not interested in owning.
In some neighborhoods of Seattle, the percentage of renters is as much as 93.2%. See interactive map, showing percentages by neighborhood throughout King County*.
The city with the highest percentage of renters last year was Miami, at 67%, followed by New York City (64%) and Boston (63%). The lowest percentage was in Virginia Beach (33%).
We are here to help you and your clients with all aspects of the rental market. Please contact us for further assistance!
Nothing found herein should be construed as an attempt to offer or render a legal opinion or otherwise engage in the practice of law. You should not rely solely on this information. We encourage our clients to work with a lawyer experienced in commercial and/or residential real estate matters as they can be complicated and confusing.
