Let’s face it, Seattle isn’t about to land itself on any hottest lists of affordable places to invest any time soon. But a lack of bargains doesn’t mean that there aren’t opportunities to be had. For those who own Seattle property or find a suitable investment in this area, homes attract high average rents and opportunities for consistent returns and appreciation. With single-family homes enjoying similar returns to the stock market without the same level of volatility, stable “Tier 1” markets like Seattle could be an attractive option for your portfolio.
Late last year, Redfin reported that Seattle was the fastest-cooling market in the U.S. As an already expensive city to buy into, the extra heat in the market turned out to be unsustainable as interest rates and inflation began to bite on large mortgages. The good news is that more bargaining power was finally available to those that do have the capital to get into the Emerald City.
So does it make sense to try and invest in Seattle in 2023? BiggerPockets has teamed up with Belong to bring you a snapshot of the Seattle rental market. Belong is a modern alternative to property management companies that is humanizing the rental experience and making it easier for individual homeowners to manage real estate investments in popular cities like Seattle and San Francisco.
Only you know your financial situation and what you can take on, so this report is designed to support your research with an indication of average rents and the current state of the rental market in Seattle, including:
- Are Seattle’s cooling real estate prices enough to lower the barriers to entry?
- How does the median price of homes in Seattle compare to similar Tier 1 cities?
- What kind of rental income can I expect from a property in Seattle?
- When is the best time to list a Seattle rental to achieve the highest rate?
- Will the tech downturn affect real estate in Seattle? What are the other…
