Seattle Townhome Rental Market Outlook for 2021

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Seattle Townhome Rental Market Outlook for 2021

Ryan M Swick
Member since 2021 · 2 posts · 3 votes

Hi Seattle & PNW-based BP crew,

I'm looking for thoughts on your outlook for the Seattle townhome rental market this year, 2021. If you're a landlord of townhome units, what are you seeing currently in terms of demand, supply, and pricing?  What do you expect will happen going forward, esp with the vaccination drives underway and urban rental markets perhaps tightening a bit?

Thanks,

Ryan

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Michael HaasBusiness Member
Real Estate Agent · Sammamish, 🌧️ Seattle Investor-Agent | 🤑 Helped 400+ Clients Invest in Real Estate | 🏘️ Owns 23 WA Rentals & Airbnbs | 🏗️ Built 5 DADU's | 📈 You Can Do It Too · Member since 2016 · 725 posts · 3k+ votes
5y

I don't personally own an units in Cap Hill but have heard rents are down - it definitely makes sense that dense areas like downtown, first hill, and cap hill will be slower given that so much of the draw of those neighborhoods are the bars, restaurants, and amenities that have been shuttered by COVID.

[email protected]408-439-7873
HouseHack Seattle | Michael Haas & Team572 Reviews
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  • Dave Skow
    Lender · Seattle, WA · Member since 2014 · 2k+ posts · 899 votes
    5y

    depends on the  locations ....ballard / wallingford  N end -  demand is high 

    w seattle - demand is down 

    etc ..........

    0Reply
  • Ryan M Swick
    OP
    Member since 2021 · 2 posts · 3 votes
    5y

    Thanks, Dave, makes sense.  Thoughts on central Seattle, e.g., Cap Hill, CD, Madison Valley area?

    0Reply
  • Dave Skow
    Lender · Seattle, WA · Member since 2014 · 2k+ posts · 899 votes
    5y

    I think that  cap hill is above  average  pace  and  prob a bit softer  going south ..there are  many agents and  TH rental owners  that will be able to chime in with more detailed  replies than me:)

    0Reply
  • Michael HaasBusiness Member
    Real Estate Agent · Sammamish, 🌧️ Seattle Investor-Agent | 🤑 Helped 400+ Clients Invest in Real Estate | 🏘️ Owns 23 WA Rentals & Airbnbs | 🏗️ Built 5 DADU's | 📈 You Can Do It Too · Member since 2016 · 725 posts · 3k+ votes
    5y

    I don't personally own an units in Cap Hill but have heard rents are down - it definitely makes sense that dense areas like downtown, first hill, and cap hill will be slower given that so much of the draw of those neighborhoods are the bars, restaurants, and amenities that have been shuttered by COVID.

    [email protected]408-439-7873
    HouseHack Seattle | Michael Haas & Team572 Reviews
    WebsiteView Page
    6Reply
  • Adrian Chu
    Real Estate Broker · Seattle, WA · Member since 2014 · 1k+ posts · 427 votes
    5y

    Rents have gone down temporarily. The typical demographic for a townhome is 2 of 3 individuals sharing a house together.  There aren't as many of those groups nowadays.  But people will start moving back soon.

    0Reply
  • Sherief Elbassuoni
    Realtor · Bellevue, WA · Member since 2019 · 882 posts · 1k+ votes
    5y

    @Ryan M Swick, rents are down in these areas because renters now prefer the suburb more after being allowed to work from home.

    We do not expect this will last forever. After Covid, the demand will go up again!

    0Reply
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