Marcus & Millichap

Seattle Local Apartment Report

Third Quarter 2019

Access Full Report Subscribe

Investors Expand Reach Into Suburban Markets With Robust Yield Profile, Strong Population Gains

No slowdown in job growth for the Puget Sound region, sustaining demand for rental housing. As a top hub for tech and life sciences, Seattle has been a leader in job creation this economic cycle, resulting in outsized household formation trends and robust rental demand. More Bay Area companies are tapping into the metro's deep tech roots, most recently with Apple inking a large office deal that can accommodate upward of 2,000 new workers. Facebook and Google also have plans to grow their local workforce by thousands with recent leases in South Lake Union and on the Eastside. Hometown tech titans Amazon and Microsoft are expanding rapidly on the Eastside as well. Microsoft is undergoing a major overhaul of its Redmond campus that could provide room for an additional 8,000 workers, while Amazon is amassing enough space in Bellevue that could rival HQ2.

Access Full Report Subscribe