Hobart
REAL ESTATE
One-Third of Seattle Households Are Low-Income, Driving a Need for 112,000 New Affordable Homes by 2044
Seattle will need to build 112,000 new affordable homes in the next 20 years to accommodate a third of Seattle households whose annual earning is less than 80% of the area median income (AMI), the Seattle Office of Housing (OH) reported Wednesday, June 12, to the City Council’s Housing and Human Services Committee.
Built-to-rent housing boom bypasses PNW
Despite a chronic need here for affordable housing, the national trend to build houses for rent, not for sale, hasn't gained traction in the Pacific Northwest.Why it matters: With mortgage rates perched near record highs for the year, there has been a proliferation of such housing in many communities across the U.S.They offer residents property management perks without down payments or long-term commitments — and no mortgages.By the numbers: In 2023, the U.S. saw 27,500 build-to-rent houses completed, an all-time high. It was 75% more than the year before and triple the number in 2021, according to a recent RentCafe...
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