Last year as housing prices and rents soared around Seattle, a decent amount of people packed up and moved for cheaper pastures, such as Tacoma. You could get an urban setting in the shadow of Mount Rainier but you were paying much less for the privlidge. It now looks like those days are over.
Axiometrics Inc., a company that tracks national rental markets, the rate of rent growth in Tacoma was higher than the rate of rent growth in Seattle in January 2016.
This isn't entirely new as people have been noticing rising rents in the City of Destiny for a few months now, but the growth has been stark. There was 9.1 percent rent growth in October from the previous year, a five-year high.
Still, Seattle's southern neighbor remains a much cheaper alternative. According to Trulia, median one-bedroom rent right now is $850/month and two-bedroom rent is $1,225/month and climbing. Meanwhile, median rent in Seattle clocks in at close to $2,500. So if you were considering a move to Tacoma as a renter, you might want to get on it because those prices are going to keep going up.
· Tacoma Rents Rising Faster Than Seattle [KUOW]
· The Ten Cheapest Properties For Sale in Tacoma's North End [CS]
· Real Estate Data for Tacoma [Trulia]