Diverse Options for a Market in Demand

Downtown Seattle is everybody’s neighborhood, and that’s reflected in the area’s growing residential population. Residential projects currently make up nearly three quarters of all construction downtown. Since 2010, more than 26 thousand residential units have been added to the downtown inventory and more than 33 thousand are in the pipeline. Apartment construction represents the majority of new units coming online. While new development has kept rent increases in check in recent years, strong demand from an ever-increasing residential population keeps vacancies low while market rents continue to rise.

Housing Market Statistics

Sources: housing mix data are derived from the King County Assessor and CoStar data; development data are from the DSA Development Guide (based off of permits with the City of Seattle); apartment market data are from CoStar.

If you have questions about our research, contact Elliott Krivenko:

Phone: 206-613-3255
Email: elliottk@downtownseattle.org