SEATTLE — This story was originally posted to MyNorthwest.com
Seattle residents are on the move, not staying in one place for too long.
A new study by RentCafe revealed that nearly half of Seattle renters switch apartments in less than two years. But why are residents constantly in motion?
What drives Seattle renters?
“In Seattle’s case, it’s the mix of housing supply and renter behavior — rather than just rent hikes — that drives people to move so frequently,” Veronica Grecu, the author of the report, stated in an email to MyNorthwest.
Grecu explained that large companies, such as Amazon and Microsoft, bring in a steady flow of employees looking to rent. She added that record home prices in the region have made it hard for many locals to buy a home.
“That keeps more people renting longer, but also shopping around for a better deal. And with Seattle’s rents still some of the highest in the country, it’s natural for renters to keep an eye out for more wallet-friendly apartments,” Grecu stated.
She noted that while the metro’s renter population dipped slightly, by -3.6%, over the past five years, the overall housing stock grew by 5.6%, giving renters more options.
“Plus, with much of the new supply comprising high-end apartments, it’s common for higher-earning renters to move into brand-new units with modern amenities, smart-home features, and the kind of design that matches their lifestyle,” Grecu added.
According to RentCafe, 49% of Seattle renters move within two years — a 6.1% rise since 2018. Gen Z drove this pattern, with 81% changing apartments within two years. Meanwhile, 53% of Millennials changed their address as quickly.
Looking at rent habits nationwide
RentCafe found that nationwide, more than a third of renters switch apartments within their metro area every two years.
Its survey found that renters prefer suburban living, as 41% were drawn to greener, amenity-rich neighborhoods, and that safety was the top priority, followed by walkability.
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