Rental market snapshot for South Lake Union, Seattle
South Lake Union rental market summary
The rental market in South Lake Union, Washington is showing signs of growth. In July 2023, there were 498 new listings, a 2.3% increase from the previous month. This indicates that the rental market is becoming more competitive, as more people are looking for rental properties in the area. The median rent in July 2023 was $2,805, a 2.5% increase from the same time last year. This suggests that rental prices are increasing in the area, likely due to the increased demand for rental properties.
Overall, the rental market in South Lake Union, Washington appears to be on the rise. With more people looking for rental properties and an increase in median rent prices, it is likely that the rental market will continue to grow in the coming months. This could be beneficial for landlords and property owners in the area, as they could potentially see higher returns on their investments.
Median rent for all residential properties in South Lake Union
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The most expensive listings and top trending buildings in South Lake Union
Most Expensive Listings
Address | Rent Price | Bed / Bath |
---|---|---|
112 Boren Ave N | $14,000 | 2 / 0.0 |
111 Terry Ave N | $11,829 | 3 / 3.0 |
210 8th Ave N | $9,250 | 3 / 2.5 |
602 Terry Ave N | $9,250 | 2 / 2.0 |
111 Terry Ave N | $8,774 | 3 / 3.0 |
Top Trending Buildings
building name | avg rent price |
---|---|
Capilano Properties | $3,193 |
Blueground | $3,135 |
Indigo Real Estate | $3,002 |
Holland Partner Group | $3,000 |
Greystar* | $2,994 |
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Bedroom Breakdown in South Lake Union
South Lake Union neighborhood apartments rents
The rental market for studios in South Lake Union, Washington is showing signs of growth. In July 2023, there were 35 new studio listings, representing a 3.8% increase in median rent from June 2023 to July 2023. The median rent for studios in July 2023 was $2,150, which is a significant increase from the median rent of $2,071 in June 2023. This indicates that the rental market for studios in South Lake Union is becoming increasingly competitive, and renters should expect to pay more for their desired studio space.
The rental market for 1-bedroom apartments in South Lake Union, Washington is showing signs of growth. In July 2023, there were 130 new 1-bedroom listings, a 7.7% increase from the median rent in June 2023. The median rent for 1-bedroom apartments in July 2023 was $2,736, indicating that the rental market is on the rise. With the influx of new listings and increasing rent prices, it is clear that the rental market for 1-bedroom apartments in South Lake Union is growing.
The rental market for 2-bedroom apartments in South Lake Union, Washington is showing a slight increase in July 2023. There were 63 new 2-bedroom listings in July, and the median rent for 2-bedroom apartments increased by .7% from June 2023 to July 2023, from $4,063 to $4,093. This indicates that the rental market is slowly improving, and that there is an increasing demand for 2-bedroom apartments in the area.