More Housing Providers Leaving Seattle, Recent Data Shows
According to the latest data from Seattle’s Rental Property Registration database, Seattle continues to experience an extreme decline in rental housing with a net loss of 3,407 properties and 11,521 units since May 2021. Looking at 2022 alone, from January through April 2022, Seattle has lost 357 properties equating to 1,762 units. This mass exodus of housing providers is exacerbated by City Council's repeated passage of ordinances that further increase the costs, risks, and onerous burdens on housing providers.
Of the properties lost since May 2021, 2,538 were single family homes which are typically owned by small, individual housing providers. The result of the last few years of regulations is an ongoing departure of rental housing as people sell and leave the market. These homes typically become owner occupied, rather than continuing as a rental.
The Seattle City Council must stop ignoring small housing providers and work with us to address the problems facing the city. We are in a housing crisis and instead of working towards a solution, the Council continues to push housing providers out of the city.