Seattle Cap Rate Survey. Enter the property address into the box at the top of the page to find the cap rate for a particular property. Answer Save. It can, however, also be a second home or vacation home that is too close in proximity to the primary residence. What is the size of available office spaces in Seattle, WA? In the last 10 years, Seattle has experienced some of the highest home appreciation rates of any community in the nation. At the county level, effective rates in Washington range from 0.61% in San Juan County up to 1.19% in Pierce County. The most affordable neighborhoods in Seattle are Innis Arden, where the average rent goes for $1,322/month, Richmond Beach, where renters pay $1,322/mo on average, and The Highlands, where the average rent goes for $1,322/mo. [This average (commercial) electricity rate in Seattle is 11.46% less than the Washington average rate of 7.68¢/kWh. Check Seattle Office Market Trends for more stats. Commercial Electricity in Seattle; The average commercial electricity rate in Seattle is 6.8¢/kWh. The county’s largest cities are Seattle and Bellevue. Search 36 Foreclosure Listings in Seattle WA, with data on unpaid balances and auction dates. In contrast, the 2018 common rate was $9.19 per $1,000. The average effective property tax rate in King County is 0.93%. Although the local government is working on increasing the supply of affordable housing in Seattle… The average office rental rate in Seattle, WA is $27.68 per square foot. Favorite Answer. It is more than twice as high as New York or Los Angeles, both of which have extremely low rates. The one-year job growth rate was 3.6% during the second quarter, compared to the rest of the country which saw jobs grow at a rate of 1.9%. Overview . Properties such as these pose a bigger risk to lenders and therefore carry a higher interest rate. In this case, a typical Leasing Fee would cost owner $2,500 every time home is leased to new tenants, as well as a Management Fee of $250 a month ($3,000 a year). Find Bank Foreclosures and premium information on Zillow for FREE! Learn more about today's mortgage rates. Rates in many King County cities have been falling as home values have been increasing. Commercial rates in the U.S. range from 6.86¢/kWh to 34.88¢/kWh. The number of homicides stood at 28 - a decrease of 4 compared to 2018. Total crimes for Seattle has decreased by 13% in the same time frame. You can also watch a video on How to Find Cap Rates. The 2019 crime rate in Seattle, WA is 397 (City-Data.com crime index), which is 1.5 times higher than the U.S. average. It was higher than in 91.4% U.S. cities. Typically, with income property, the best loan rates require a 20% down payment or $90,000. Whereas balanced markets tend to have a four- to six-month supply of homes at the current rate of sale, Washington had just a two-month supply in the second quarter of 2019. Statewide, residents pay an average of $3,601 a year in property taxes. Property taxes are set by multiplying the assessed value by the property tax rate. On a "low" priced apartment assessed at 400K = $4330.88. Editor's note: A previous post reported that Seattle has the highest property crime rate in the nation. The Washington State Constitution limits the annual rate of property taxes that may be imposed on an individual parcel of property to 1% of its true and fair value. Seattle Home Appreciation Rates. The rest of the city is more reasonable: 8.68790 per thousand. Find Seattle, WA commercial property for lease on Cityfeet. The most common property tax rate in Bellevue is $8.21 per $1,000 of assessed value with $0.92 per $1000 of assessed value goes to City of Bellevue. Seattle and its residents have a healthy appreciation for the outdoors and tend to be very eco-conscious, which means that many of the apartment properties in Seattle (the newer ones especially) often take measures to be environmentally friendly. Current Mortgage Rates Feb, 11, Thu, 2021 Know Your Limits City of Seattle: Seattle Public Library seven-year regular property tax levy at a rate not to exceed $0.122/$1,000 in the first year. For example, if property values increases faster than the levy amount the rate usually decreases. A budget-based system causes property tax rates to fluctuate based on the total value of the property in the district. Second Half 2019. On the same 400K = $3475.16. Seattle violent crime rates have decreased by 14%. It's also the county with the state's highest median annual property tax payment at $4,611. The unemployment rate in Seattle in 2016 was about 4.8%, slightly lower than the national average. Since tax rates are stated in terms of dollars per $1,000 of value, the 1% limit is the same as $10 per $1,000 and is often referred to as the $10 limit. Seattle Housing Market Predictions 2020. King County has one of the highest median property taxes in the United States, and is ranked 102nd of the 3143 counties in order of median property taxes. But because home values here are high, that's a statewide effective property … Relevance. Search Seattle, WA commercial real estate for lease or rent by space availability, square footage or lease rate. In the city of Seattle, where property taxes are declining 1.2 percent, the bill for the median house will drop from $5,709 last year to $5,642 this year. The chart below reflects the changes in statewide true and fair market value subject to the state levy and the statewide levy rate for the state property tax levy over time. Seniors/disabled taxpayers in the Senior Exemption Program are exempt from paying this lid lift. Property Tax in the Pacific Northwest. King County collects, on average, 0.88% of a property's assessed fair market value as property tax. Seattle real estate appreciated 88.05% over the last ten years, which is an average annual home appreciation rate of 6.52%, putting Seattle in the top 10% nationally for real estate appreciation. Since this is an income property, banks also need from six … 136 properties available, complete with high-quality building photos, pricing, and … Current rates in Washington are 2.88% for a 30-year fixed, 2.37% for a 15-year fixed, and 3.16% for a 5/1 adjustable-rate mortgage (ARM). For an overview of cap rates and expected returns on cost by property type, sector, class and/or segment for the Seattle market, click on the Download Report button below. There's two rates: One for downtown & near north (Belltown/Queen Anne) 10.82722 per thousand. Search through office, industrial, retail and other Seattle, WA commercial property for lease. It wasn’t just Seattle, but properties in cities all across the Washington real estate market were appreciating at fast rates. With double-digit increases in home values over recent years, a lot of people were left wondering when will the Seattle housing market slow down. [The average (commercial) electricity rate in Seattle is 32.61% less than the national average rate of 10.09¢/kWh. Typical rates in the area for residential property management is a leasing fee of 1 month’s rent value, as well as 10% of monthly rent value. The number of REO properties in Seattle increased 15.8% from the previous month but dropped 26.7% from the previous year. The 2019 Seattle crime rate fell by 12% compared to 2018. Asking prices vary based on the property’s location, overall rating, amenities, proximity to restaurants, cafes and entertainment venues, as well as public transport, airports and highways. The Seattle rate for 2018 is 9.56207 per $1,000 in assessed value. Reach out to your local Capital Markets professional for additional market insight. Steve M. Lv 5. At the same time, property crime has decreased by 13% year over year. 5 Answers. Using this rate and a Bellevue house valued at $1,000,000 as an example, the total annual tax from 2018 to 2019 will decrease by about $983 due to the decrease in rate. The average salary for a Property Manager is $59,438 in Seattle, WA. Browse Seattle properties for sale on CBRE Deal Flow. And there is a heavy … Determining whether Seattle is becoming less or more safe for its residents (per 100,000) is most easily done by comparing year-over-year crime rates. Washington and Oregon enjoy property tax rates well below those of many other coastal states. Provides multiple years of property tax data through interactive maps and charts.