Seattle Times: More upper-income Seattleites leasing
The Seattle Times digs into census data and concludes: The new renters: More upper-income Seattleites leasing
But census data shows that from 2012 to 2013 (the latest data available), nearly all the growth in Seattle’s renter households came from those making $100,000 or higher. That income group now accounts for one out of every 5 renter households in the city.
By far the biggest jump was in the renters at the very top of the income ladder. Those earning at least $150,000 increased by 58 percent in that one-year period. There are now almost 13,000 renter households in Seattle at that income level — 4,700 more than in the previous year.
I wonder how much of that has to do with how little inventory there is for single family homes for sale and the total lack of condo new construction? If I were moving to Seattle it certainly is a lot easier to rent in one of the many new high rise apartments, because the options are so plentiful, as compared to trying to buy a home.