Should I spend this much on rent? (Seattle: apartments, rental market)

[SeattleBoundAndDown]

I'm a 22 year old moving to Seattle soon and I'm looking at apartments to rent. My income is 90k and I'm looking at places in SLU that are on the higher end of $1500-$2000/m. This seems like a lot to spend on a 1 bedroom apartment.

The square footage for these is between 650 and 850. Can I afford this much in Seattle or should I be looking at cheaper places? Any opinions on the SLU area?

[Botev1912]

that's a lot considering the fact you can buy a nice house in the north suburbs 1500-2000 sq ft for 1300/1800 a month with with property taxes and insurance included if you have good credit history.

[hubey21]

Originally Posted by SeattleBoundAndDown

I'm a 22 year old moving to Seattle soon and I'm looking at apartments to rent. My income is 90k and I'm looking at places in SLU that are on the higher end of $1500-$2000/m. This seems like a lot to spend on a 1 bedroom apartment.

The square footage for these is between 650 and 850. Can I afford this much in Seattle or should I be looking at cheaper places? Any opinions on the SLU area?

If you're making 90,000 a year buy a house. You'll get back a few months worth of rent you'd pay on an apartment just from the tax refund.

[tatania199]

Well, we've said a thousand times since moving here that if it were just the two us of (without the two little people and one great big beast) that we'd live in SLU (or nearby) in some funky loft or apartment and since we pay way more than that for our family home in the 'burbs, it sounds good to me!

Are you looking in SLU because you're moving for Amazon? Because being within walking distance would be priceless to me. But, Amazon pays for transit, so moving further out wouldn't necessarily have an financial impact (something people often underestimate - those extraneous costs adding up). And there are so many excellent places to live nearby there.

(Hehehehe...can you here the jealousy at the thought of no commute, walkability, being int he middle of everything? We love our neighborhood and with kids and pets, it's a must for us and absolutely ideal but that doesn't mean we don't play "what if" on a regular basis!)

[SeattleBoundAndDown]

Originally Posted by tatania199

Well, we've said a thousand times since moving here that if it were just the two us of (without the two little people and one great big beast) that we'd live in SLU (or nearby) in some funky loft or apartment and since we pay way more than that for our family home in the 'burbs, it sounds good to me!

Are you looking in SLU because you're moving for Amazon? Because being within walking distance would be priceless to me. But, Amazon pays for transit, so moving further out wouldn't necessarily have an financial impact (something people often underestimate - those extraneous costs adding up). And there are so many excellent places to live nearby there.

(Hehehehe...can you here the jealousy at the thought of no commute, walkability, being int he middle of everything? We love our neighborhood and with kids and pets, it's a must for us and absolutely ideal but that doesn't mean we don't play "what if" on a regular basis!)

Yes, for Amazon. I agree with you; everything about being there is very tempting and I've read and heard talk about the whole area developing rapidly and becoming a great neighborhood. That being said, I'm very unsure about what's actually developing in the area and the rent.

I have a terrible feeling that when I get to Seattle, my coworkers will tell me they're paying $1000 living in some great neighborhood I haven't considered. I'm now thinking $1500 might be a good compromise.

[Ira500]

If you don't have huge car payments or huge college loans, then you should be able to afford the rent. The general rule is to limit your housing expenses to no more than 25-30% of your income.
Pluses: Nice new buildings tend to have good amenities, and being able to walk to work is a huge plus.
Minuses: The building's going to be full of Amazon people. Not that Amazon people aren't wonderful, but do you want to see them/hang out with them day and night, 24/7?

[2ForTheSea]

Is it possible to find short term housing or a month to month situation so you can settle in and look around in person for what you want?

[Kayela]

SLU, Cap Hill, Belltown, Queen Anne - the rental market is really feeling the effects of Amazon's hand-over-fist hiring. Rents are rising rapidly and anything with decent amenities is going to co$t. No - your co-workers are not living in a great neighborhood in a killer apt for $1000. And if they are - it's costing them in terms of commuting time. There are certainly nice neighborhoods further out with more reasonable rent, but is that you want? If so then broaden your search. However if you want proximity, walkability and amenities - well... join the club.

Also - if you are relocating here to work for one of several major tech companies, they often do offer a month of temp housing as part of the relo package. It really is a good idea to take them up on it even if it seems like a pain to get semi-settled and then have to move again.

[Apathizer]

$1500+ for rent is absolutely ridiculous! There are some really nice neighborhoods about 1-3 miles where you should be able to find nice apts for around $800-900. I'd check Wallingford/Fremont area: A commute from that area would still be really easy.

Yes, SLU is becoming the 'new'/trendy/upscale place to live, so it makes sense the rents would be inflate. But $1500+ for a 1-bdr apt is ridiculous!

[steel7]

Originally Posted by Apathizer

Yes, SLU is becoming the 'new'/trendy/upscale place to live, so it makes sense the rents would be inflate. But $1500+ for a 1-bdr apt is ridiculous!

People pay it cause they dont know any better.