The Puget Sound’s tech sector earned it a top spot based in rental demand.
IRVINE, Calif., March 14, 2017 – HomeUnion®, an online real estate investment management firm, has announced that Seattle ranks as the top real estate market by rental demand, as well as the third-ranked market by opportunity ranking. HomeUnion®’s Opportunity ranking analyzes the balance of supply and demand fundamentals in a given market, favorable entry prices and limited threats from first-time homebuyers.
“The robust tech industry presence in Seattle ensures strong renter demand and favorable market fundamentals for investors with the cash reserves to invest in this market,” says Steve Hovland, director of research at HomeUnion®. “Amazon, Microsoft and other major tech companies provide a solid employment anchor for the Puget Sound. At the same time, entry prices are significantly lower than other West Coast tech hubs in Northern California, providing investors with a lower-cost alternative to a rental market with the most sought-after industry.”
Here are some key takeaways on the Seattle investment housing market:
- At 3.3 percent, the metro’s year-over-year employment growth is projected to nearly double the national average of 1.7 percent.
- Single-family rental (SFR) vacancy in Seattle is expected to drop by 80 basis points to 2.1 percent.
- Rents for Seattle SFRs are anticipated to grow to $2,347 per month, up 5.5 percent from 2016.
- Prices for investment homes in Seattle ended 3Q 2016 at $419,950 with over 80 percent of investors choosing to use leverage.
For more information on the state of the U.S. investment housing sector and market conditions in 29 metros nationwide, download the 2017 National Single-Family Rental Research Report.
HomeUnion® is an online real estate investment management firm. Based in Irvine, Calif., it provides all the services needed for individuals to invest remotely in single-family rental (SFR) properties. The company uses a combination of research and proprietary analytics to incorporate data on over 110 million homes and 200,000 neighborhoods into their database, and then delivers its solutions to an on-the-ground infrastructure that currently serves 11 locations. HomeUnion®’s role spans the lifecycle of the investment transaction: identifying sound investments, handling all aspects of acquisition, maximizing income, protecting asset value, and selling the asset when the time comes.
Communications Manager, HomeUnion®