Seattle’s South Lake Union Rents Surpass Parts of San Francisco

Seattle vs. San Francisco

Rental rates are creeping up in Seattle’s South Lake Union neighborhood, surpassing prices in even some of the hottest neighborhoods in San Francisco.

According to an analysis by online real estate company Trulia, the median rental price per bedroom in South Lake Union comes in at a whopping $2,248. That makes it the most expensive area in Seattle’s downtown core. And, as the map above shows, it even tops some of the hot spots in San Francisco like Noe Valley and the Mission.

Of course, there’s one primary reason that South Lake Union — a once dilapidated corner of town filled with seedy night clubs and warehouses — is now thriving. Amazon.com started moving into the neighborhood in 2010, and it hasn’t looked the same since. Coffee shops, trendy restaurants and food trucks now line the busy streets, making it one of the fastest-growing parts of the city. Meanwhile, Amazon is gobbling up more land near its headquarters, as its worldwide headcount came in at nearly 110,000.

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Authored By John Cook – See the Full Story at Geekwire

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