Have you been over to DupreScott.com lately? They’ve now got a Weekly Apartment Update video feature–published on Fridays, the videos are available right on their homepage, and they’re packed with all of the juicy data that makes Dupre + Scott such an invaluable resource for apartment data in our region.
This past Friday, their video covered The Bedroom Challenge–that is, what’s more appealing to the public in a rental unit: fewer bedrooms, or more? You can view their video right here on our blog; below, we’ve recapped some of the key data they released.
- In King, Pierce, and Snohomish counties, all types of apartments perform fairly similarly in their asking rents. Recessions cause rents to suffer uniformly, while periods of growth see the rents rising across the board. But there are subtle differences.
- In King County, studio apartment rents have risen the most since 1997–4.3% compounded annually–with three-bedroom apartment rents rising a full percentage point less, and one- and two-bedroom apartments stair-stepping in between.
- The same trend was found in Pierce and Snohomish counties, with some bigger variations, but the same basic concepts.
- That percentage point translates to an increase of an extra 10% in rent growth over ten years.
There’s even more fun data in the video, but the conclusion is clear. We’ve got a winner, at least by a percentage point: it’s the studio apartment!