Rent prices in Tacoma skyrocketed over the last year
TACOMA — People continue move further south as rent in Seattle skyrockets. A new report shows that trend is hitting renters hard in Pierce County and drastically raising the cost of living in cities like Tacoma.
The City of Destiny had the second fastest growing rents in the country in April compared with a year ago, according to the report by rental listing website Apartment List.
The report shows rent increased 10.2% from April 2016 to April 2017. A median priced two bedroom is listed at $1,220.
To keep up with the demand, the restaurant scene in Tacoma is expanding and booming.
Seattle's rent grew by 4.9% with a two bedroom in the city costing double at $2,250.
Seattle’s tech boom is bringing in a lot of new people and making a lot of money for the city while pricing people out who can’t afford it. To qualify for low-income housing, a family of four can’t make more than $22,000 a year. The average tech worker makes about $135,000 a year. So what about everyone in between? We asked Seattle's mayor what he is doing to ease the rent pains.