Will apartment prices in Northgate Seattle skyrocket in the next year or two? (rental, crime)

[annonymous0381]

Back in July I signed a one year lease for a one bedroom apartment in Seattle Northgate. I pay $1200 a month for a one bedroom apartment built in 1990. My apartment has a washer and dryer in the unit and comes with a fridge. My location can't be beat. Only a block to Target and Best Buy, walking distance to the Northgate Mall and I can take the bus anywhere in Seattle as I don't own a car.



My concern is when my lease is up in July 2016 how high can I expect my landlord to raise my rent? My apartment manager told me two weeks ago that when my lease is up in July 2016 that the landlord most likely won't raise my rent. Is this possible?

If my rent goes from $1200 to $1500 a month I'm in trouble and will not be able to afford my apartment anymore.

Seattle really does need rent control.

Many uber drivers have told me horror stories of apartment rents in capital hill and lake union doubling and tenants having to move out because of high rents.

Whats instore for my apartment in Northgate Seattle?

[HuskyDawg]

Probably will go up due to proximity for commute into Seattle, but Northgate isn't a desired area that should see the crazy rise in rents of the in town neighborhoods. But it's all a hypothesis, no one knows what will happen economy wise.

[amaiunmei]

Originally Posted by annonymous0381

Back in July I signed a one year lease for a one bedroom apartment in Seattle Northgate. I pay $1200 a month for a one bedroom apartment built in 1990. My apartment has a washer and dryer in the unit and comes with a fridge. My location can't be beat. Only a block to Target and Best Buy, walking distance to the Northgate Mall and I can take the bus anywhere in Seattle as I don't own a car.



My concern is when my lease is up in July 2016 how high can I expect my landlord to raise my rent? My apartment manager told me two weeks ago that when my lease is up in July 2016 that the landlord most likely won't raise my rent. Is this possible?

If my rent goes from $1200 to $1500 a month I'm in trouble and will not be able to afford my apartment anymore.

Seattle really does need rent control.

Many uber drivers have told me horror stories of apartment rents in capital hill and lake union doubling and tenants having to move out because of high rents.

Whats instore for my apartment in Northgate Seattle?

There's no limit on rent increases in the state of Washington.

I've been saying this for a while: if you rent, get a year's lease and start putting away $$ for some kind of increase. Out of all of my friends, over 90% received an increase at the end of the year lease. Those who lived in more desirable areas tended to receive very large rental increases (over $100/mo). If you can't afford that, know that this area will likely have you priced out in no time. That's practically par for the course here.

[Hemlock140]

I agree, Northgate is a busy area with a lot of traffic, and all of the businesses/mall/park & ride attract more crime than the more desirable areas, and higher than the city as a whole. I would expect some increases but not on the same level as many other parts of the city.

Moderator cut: link removed, competitor site

[annonymous0381]

Originally Posted by amaiunmei

There's no limit on rent increases in the state of Washington.

I've been saying this for a while: if you rent, get a year's lease and start putting away $$ for some kind of increase. Out of all of my friends, over 90% received an increase at the end of the year lease. Those who lived in more desirable areas tended to receive very large rental increases (over $100/mo). If you can't afford that, know that this area will likely have you priced out in no time. That's practically par for the course here.

If my rent goes up from $1200 a month to $1300 a month when my lease expires in July 2016 I can handle that.

My question is how high can I expect my rent to jump when my lease is up in July 2016? Any ideas?

[GatsbyGatz]

Next two years, it'll probably gradually increase. In 2021 when the Light Rail station is completed in Northgate, the neighborhood will definitely be expensive. Current design plans show that developers are planning to transform Northgate into a high density, transit oriented neighborhood. This often means prices will be high.

[annonymous0381]

[quote=GatsbyGatz;41522326]Next two years, it'll probably gradually increase. In 2021 when the Light Rail station is completed in Northgate, the neighborhood will definitely be expensive. Current design plans show that developers are planning to transform Northgate into a high density, transit oriented neighborhood. This often means prices will be high.[

What do you mean by gradually increases in the next two years? What can I expect in the next year of two in terms of rent increases?

[annonymous0381]

When the lightrail is built in 2021 I'm sure northgate will become expensive. But what about in 2016 and 2017 interms of rent increases?

[Gardyloo]

There's a s**tload of rental units under construction citywide, so at some point the demand curve is going to flatten out and the big price spikes are going to level out. When that will be is anybody's guess.

Originally Posted by annonymous0381

But what about in 2016 and 2017 interms of rent increases?

Sixteen dollars per month. But I could be wrong.

[Hemlock140]

Originally Posted by Gardyloo

There's a s**tload of rental units under construction citywide, so at some point the demand curve is going to flatten out and the big price spikes are going to level out. When that will be is anybody's guess.

Sixteen dollars per month. But I could be wrong.

But as long as Amazon and others keep hiring people from out of state, they may just fill up.