Rents in downtown Seattle have gone up for the first time in 17 months as Amazon employees have returned to the office, according to a new report by Redfin.The
Redfin said it is too early to say whether Amazon's return to the office policy has affected the rent prices. FILE: A look at apartments and condos in Seattle. said rent for an apartment in downtown Seattle rose 2.5% year-to-year in December to $2,000. In the report, downtown Seattle includes the central business district, Alaskan Way waterfront, First Hill, Pioneer Square, Belltown, the Chinatown-International District, and Denny Triangle.
. Redfin said it’s too early to tell if Amazon’s policy is affecting rents and rental demand, especially because most employees already live within commuting distance of their office. Among Seattle’s inner neighborhoods, Capitol Hill rent prices increased the most in December, rising 7.2% year-over-year to $1,825.
The Central District was next, with an increase of 1.2% , then Westlake, which went up 1% to $2,265.Neighborhoods where rent prices plummeted are Queen Anne, which dropped 13.7% , and South Lake Union, which decreased 13.5% . On the Eastside, the results were mixed depending on the city. The median asking rent in downtown Redmond rose 4.3% to $2,350, but fell 3% in downtown Bellevue to $2,579.
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