Bellevue with the Highest Rents in the Country

Official data from the state of Washington indicates that Bellevue ranks first among the Seattle metropolitan areas with the highest rental prices.

Real estate experts say that one of the main factors for the recent increases in rental prices appears to be the new Amazon building constructions, which are now attracting more workforce to the city.

The official data indicates that the rent increases were calculated based solely on the real estate market reality of the city of Bellevue. To obtain these data, analysts considered the properties that were on the market last month and added the properties the city has; with these two factors, they managed to calculate the requested rents.

Thanks to the previous analysis, it was determined that the city now has an excess demand for rental contracts. Therefore, as more people need rentals to live and there are not enough houses to meet this demand, prices will continue to rise considerably.

The study revealed that the median cost of a property can be around $3,190. Figures that have allowed Bellevue to occupy the top position and be considered one of the most expensive areas in Washington to live.

Following Bellevue are the cities of Redmond and Kirkland. Meanwhile, Wenatchee, Seattle was considered the city where a rental property can be obtained most cheaply.

These high rental housing prices and the lack of opportunities for citizens to acquire a property mean that residents face different crises every day, further affecting Bellevue’s real estate market.

Available Foreclosures:

Bellevue: 15 homes available.

Redmond: 10 homes available.

Kirkland: 8 homes available.

By Elías DaSilva | 18 de octubre de 2024