Seattle Apartment Boom

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King county is pretty huge too. The further out areas are much cheaper than the prime parts of Seattle. A 2-bedroom anywhere near downtown or South Lake Union is over $3k/mo plus $150-275/mo per parking space. Notice the construction is apartments not SFH. There aren’t a lot of condos either and most have $1000-1500/mo HOA dues. Apparently people value feeling fancy with a doorman and concierge over lowering their HOA dues. That makes buying a condo as a rental property a horrible investment.

If I was buying rentals for investments, then I’d target along the light rail expansion. The first opening stations are N of University of Washington in 2021. As light rail expands, I think you’ll see better than average appreciate along the route. It’ll dramatically shorten commute times making the areas more desirable.

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