Not A Shocker, But Rent Keeps Rising
According to a recent study produced by RentCafé, the average cost of rent continues to increase. In April, the national average for rent was $1,314, up 2 percent from last year.
However, while rent is up in 81 percent of U.S. cities, the study said the 2 percent increase is actually a modest uptick compared to increases from previous years.
Local cities, however, saw bigger increases, reflecting the high-demand for housing in Seattle, the Eastside, and surrounding cities.
According to the survey, the average cost of rent in Bellevue increased 3.7 percent, year-over-year, bringing the average cost for an apartment up to $2,090. Another Eastside city, Renton, saw an increase of 3.8 percent, year-over-year, bringing the average cost of rent to $1,521. Read More>>
Downtown Kirkland’s Areté Earns Smart Growth Award
Washington Governor Jay Inslee acknowledged three Eastside cities for their efforts to develop projects and programs that aim to promote smart growth management planning.
The recognition is part of the 12th Annual Smart Communities Awards and aims to commend achievements by local leaders who promote thriving communities, prosperous economies, and sustainable infrastructures.
The City of Kirkland and the developer Natural & Built Environments received the Smart Project Award for their collaborative development of Areté, a contemporary, mixed-use development. Read More>>
American Families Cutting Back On Summer Getaways
If you’ve trimmed your vacation fund this summer, you’re not the only one. A survey from Bellevue-based Coinstar revealed nearly 70 percent of U.S. families with children plan to use cash-on-hand to fund their summer vacation, 44 percent already have saved for their vacation and 17 percent of respondents are not planning to take a vacation because they don’t think they can afford it. Read More>>