I was curious the other day about what it takes to rent an apartment commutable* to downtown Seattle right now (September ’17). I dug around on Craigslist, and here’s what I found.
How much are people paying for apartments in Seattle?
If you want to rent in Seattle, it will cost you. On average, a 1-bedroom costs $2000 a month. A fully furnished 1-bedroom in a downtown highrise with a gym goes for around $3500. An older apartment in Lower Queen Anne, with no washer dryer and no parking, goes for around $1500.
How early are apartments posted?
Most apartments on craigslist are available within a week of being posted, there are some that are posted a month in advance or more, but not terribly many. This means that if you’re looking near downtown, you’ll either have to convince your landlord to hold the apartment for you, or pay for a few extra weeks. That is, unless you’re willing to risk finding an apartment at the last minute.
How fast are listings being rented out?
Eight days on average. The median age of a post on Craigslist is one day.
Most listings are deleted in less than three days.
This probably has more to do with how property managers advertise listings than how quickly rentals move. Property managers at larger complexes repost their listings daily, deleting their old listings (thanks Suzanne for helping point this out). If we ignore all listings deleted within two days, the median life of a rental posting is eight days.
So if you see a place and you like it, move fast. And if you’re a landlord and no one has shown interest in your listing more than a couple weeks, it’s almost certainly priced too high.
*I defined “commutable to downtown Seattle” as within three miles of 98101. This includes Capitol Hill, Queen Anne, Belltown, SLU, Downtown, Pioneer Square, Eastlake, Madison Valley, Sodo, part of Beacon Hill, etc. You can definitely find cheaper housing further away and still be commutable to Seattle, this was just my arbitrary definition.