Much Better to Rent Than to Buy in Seattle

According to a recent article in the Seattle PI, Seattle is the second worst city to buy a home in compared to renting.

The article compared the median cost of a 2-bedroom condominium or townhouse with the median rental rate of a 2-bedroom apartment. In Seattle the cost of owning a condo or townhouse was 24 times the median annual rent.

The great disparity between renting and buying in Seattle is a reflection of the strength of the local job market compared to other cities across the country.

Seattle defies the national trend with such a harsh difference between renting and owning right now, as 72% of the largest 50 cities in America offer a greater bargain in buying over renting.

What effects do you see on Seattle because of the difference in value between renting and owning? Speak up and be heard! Comment below, on our Facebook page or tweet us.

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