³ÉÈËXÕ¾

MYNORTHWEST NEWS

What Craigslist says about Seattle housing

Sep 7, 2016, 1:56 PM | Updated: Dec 14, 2016, 12:00 pm

NLIHC , Tacoma rent, affordable housing,...

(Mark Moz, Flickr)

(Mark Moz, Flickr)

Seattle housing — it may or may not be fair, but Seattle can afford it, according to .

A recent confirms what most already know — rent is high. That’s especially true for popular metro areas throughout the nation. Seattle housing was one such consideration in the study. But it seems, according to the study, Seattle’s housing is faring better than in other major cities.

Why tech is not entirely responsible for high Seattle rents

The study, performed at US Berkeley’s Urban Analytics Lab, was recently published in the Journal of Planning Education and Research. It scoured through 11 million Craigslist rental listings across the United States for the summer of 2014. PhD studies take a while to be approved, which is why the data is two years old.

Seattle housing sticks out, according to the study. Most high rental regions are along the Boston to Washington DC corridor, and along the coast of California. But Seattle is among a handful of notably popular rental markets.

Seattle housing: Fair or reasonable?

What did the study find about Seattle? Keep in mind, 30 percent of earnings is generally considered reasonable rent — aka a rental burden. The local rental burden is in the low 20th percentile — below that 30-percent mark.

That could be because Seattle’s salaries have also been on the rise. According to , many of the top-paying jobs in town — mostly in the tech industry — are set pretty high. For software engineers, the median pay can be between $98,000-$123,000 a year. And that’s the median — midpoint — of the pay scale.

That brings us to fair-market rent. This basically refers to how fair the rent is for a particular space. The study states that a city wants to have 40 percent of its housing at a fair-market rate. For Seattle housing, we’re right at that 40 percent mark.

According to the , fair rents for King County-area rentals are:

• 2016: $1,049 for efficiency; $1,225 for a one bedroom; $1,523 for a two bedroom.

• 2017: $1,093 for efficiency; $1,249 for a one bedroom; $1,544 for a two bedroom.

The study also offers a few main national takeaways:

• There are incredibly few rental units below the fair market rental level in the most popular housing markets.
• Difficulty finding fair rent is not just a problem for the poor. This is an issue for households earning typical salaries for their area.
• Craigslist posts correspond with the Department of Housing and Urban Development’s own estimates, though Craigslist is more up to date.

MyNorthwest News

Washinton whooping cough...

Aaron Granillo

WA health officials warn of whooping cough spike tied to lower vaccination rates

A drop in vaccination rates in Washington leads to a surge in whooping cough cases, warns the Department of Health.

6 hours ago

immigrant Medicaid data Trump...

Jason Sutich

Trump admin. orders Medicaid data be shared with Homeland Security for immigration enforcement

Deportation officials now access personal data of millions of Medicaid enrollees amid immigration crackdown under the Trump Administration.

7 hours ago

roosevelt high football...

Frank Sumrall

Roosevelt High principal placed on leave as WIAA investigates recruitment violations

Roughriders Football at Seattle's Roosevelt High School is expected to face penalties from the WIAA for breaking recruiting rules.

10 hours ago

UW graduation attendance...

³ÉÈËXÕ¾ 7 News Staff

50,000 expected to attend UW graduation this weekend

Join 50,000 attendees at UW's historic 150th commencement this Saturday at Husky Stadium. Celebrate academic achievements together.

11 hours ago

Lewis county stolen equipment...

Jason Sutich

Centralia Police seek public’s help in $615K heavy equipment theft case

Two men booked in Lewis County Jail for stealing over $615,000 in heavy machinery over the past seven years.

13 hours ago

hammer attack Lacey...

Jason Sutich

Lacey woman escapes after attacked with hammer while selling books

A Lacey woman was attacked while selling books but cleverly escaped by seizing her assailant's wallet during the struggle.

13 hours ago

What Craigslist says about Seattle housing