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Local Economy

Seattle’s Population Growth Nears 50 People Per Day

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Seattle’s Population Growth Nears 50 People Per Day

The US Census Bureau recently released new population statistics that reveal Seattle added just over 17,000 people to its population in 2017, which equates to about 326 people per week or 46 people per day. As Curbed Seattle reports, Seattleites aren’t likely to be surprised at the latest figures, which show “that around 724,745 people lived in the Seattle city limits alone as of July 2017.”

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Despite HQ2 Plans, Amazon Continues to Grow in Seattle

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Despite HQ2 Plans, Amazon Continues to Grow in Seattle

Upon the announcement that Amazon was on the hunt for a second headquarter location, many wondered what impact a new city would have on the company’s presence in Seattle. And as recent activity from the retail giant has shown, it is definitely not slowing things down. According to reports, Amazon “has increased its forecast for the size of its campus in Seattle by about 2 million square feet, the equivalent of three additional skyscrapers,” which means the company will occupy nearly 14 million square feet of office space once current and planed projects are complete.

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Seattle Office Rents Are Fastest Rising in the Nation

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Seattle Office Rents Are Fastest Rising in the Nation

As Mike Rosenberg of Seattle Times reports, “it’s not just housing prices: Seattle is not the bargain it used to be for companies, either.” Though the Emerald City was historically a bargain compared to other larger cities, “the city’s recent boom driven by Amazon and other tech companies has propelled Seattle up the ranks of the nation’s most expensive places to rent an office, passing Chicago and Los Angeles just in the last three years.” During the three year period, Seattle office rents increased a staggering 31 percent, “about 2 ½ times faster than the national average.”

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Mortgage Rates Increase to 4.40%

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Mortgage Rates Increase to 4.40%

Amidst a strong economy and housing market, long-term mortgage rates in the United States inched upward this week, and as Seattle Times reports, the increase in the cost of borrowing comes “just as more of the millennial generation is entering the real estate market.” According to a release from Freddie Mac earlier this week, “the average rate on 30-year fixed-rate mortgages rose to 4.40 percent, a slight gain from 4.38 percent last week.”

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