Would you prefer upscale living closer to downtown Seattle or live it large in a home outside of Seattle’s downtown core?
Whether you’re living in Ballard, Capital Hill, West Seattle, or the Rainier Valley, the cost to rent an apartment has dramatically increased over the last decade, causing displacement of ethnicity groups and replacement by other ethnicity groups.
According to the Housing and Urban Development (HUD), the fair market rent (FMR) for 2bd apartments in the Seattle/Bellevue metro area is a whopping $2,099/month. Ten years ago, that number was $987/month.
Just because the FMR is $2,100 per month, the range of quality in terms of apartments can vary wildly depending on which neighborhood and building you ultimately choose to live in. As you will see, you can find affordable apartments, and even some smaller homes, in Seattle.
West Seattle
This one is a charming 2bd apartment in the North Delridge area of West Seattle. Almost brand spanking new kitchen/appliances and floors. Along with most shiny new places, the building also has a rooftop terrace as one of the amenities. Good news, it’s below the FMR for 2bd apartments – $1,999 per month.
Capital Hill
If you dig older style apartments, this one in Capital Hill would fit your bill at $1,885/month. It’s a 2bd/1ba apartment in the heart of Seattle’s night life! That means proximity to tons of popular restaurants, bars, and easy access to light rail and streetcar. As a grungier part of Seattle, it’s also one of the more popular rental areas for locals and new comers alike.
Ballard
Look at this cute little cottage home in Ballard for $2,095/month! It’s 2bd and just a tad over 600sqft. For pet lovers, there’s a fully enclosed back yard, too, plus a storage shed. No need to battle for street parking here because you have a convenient parking pad for 2+ cars. When searching further from the core of Seattle, you can find smaller homes in this price range.
Belltown
Want to live in downtown Seattle? This 2bd/1.75ba apartment is just south of the Space Needle. There’s plenty of nightlife here for those who crave it – bars, restaurants, happenin’ things. Just $2,100/month for this one. In downtown Seattle. 2 Bedrooms. Doesn’t get better than that. What’s the catch? I’m not sure – there’s even a washer/dryer unit in the unit!
Columbia City
Here’s one from my hood. $1,899/month for… 3bd and over 2,000 sqft of living space! Conveniently located in the Rainier Valley (Columbia City, to be more specific). The interior photos look like a newly renovated home and most likely a flip that didn’t pan out as a flip and sell, but rather a flip and hold (BRRRR strategy).
Which one would you choose to live in? West Seattle, Ballard, Capital Hill, Belltown, or Columbia City? Share your thoughts by leaving a comment!
Sources: https://www.huduser.gov/portal/datasets/fmr/fmrs/FY2020_code/2020summary.odn
Born and raised in the Pacific Northwest, I eat, sleep, and breathe real estate. As your agent, I’m attuned to your needs, knowledgeable of market trends and conditions, and dedicated to helping you reach your real estate goals. Buying a home is one of the biggest decisions in life, and it’s my passion to help you find the right home and to be on your side through the entire process.