Renters leaving Seattle for better prices

by: Lee Stoll Updated:

SEATTLE - Renters running from high prices in Seattle are taking their money north.

It didn't take long for an 89-unit apartment complex in Edmonds to sell out recently. Renters signed leases even before the building was done.

"Just about when it opened, it was sold out," said Edmonds planning manager Robert Chave.

City building permits are up 28 percent over 2012 and up 48 percent from 2010.

A big push is for multi-unit complexes.

Maria Crosbie lives with her boyfriend in Edmonds, although his job is in Seattle.

"For us it makes more sense because for the dollar amount, we get more space," said Crosbie.

She's right. We checked, renters in Seattle are paying on average $2,456 a month. In Edmonds, renters are paying $1,851—a $605 difference for a 15-mile move.

"It's an easy enough commute for him," said Crosbie.

Chave says Snohomish County cities are sandwiched by employers in Everett and Seattle. Job growth statewide has been steady for nearly two years. Construction values are up nearly 30 percent in some cities. Taxpayers will see that money improve local schools and services.

"Like paving streets, just all kinds of things--parks, maintaining parks," said Chave.

Brooke Snyder is turning those renters into repeat customers to keep her Edmonds crafts store open.

"The first week of December is full. We no empty days of classes," said Snyder.

 

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