Seattle housing stays flat, rent continues to rise

Real Estate

Seattle homebuyers may be seeing "some relief" this summer, but Seattle renters aren't going to beat the heat.

According to a new report from Zillow, in June median rents in Seattle rose to $2,259, up 3.8% from the same time a year prior.

That's not that far off from the rise of the U.S. median rent, 3%, in June. But it does dwarf the home value growth: according to Zillow's analysis, Seattle home prices have jumped just 0.4% from June 2018. The median home price in the Seattle metro area is $489,400.

Seattle joined the notable West Coast cities that saw a flatlined last month, along with Los Angeles (up just 0.9%), and San Francisco (holding at 0% growth).

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