Rising rents becoming an issue in Spokane County
SPOKANE, Wash. — Higher rents are becoming an issue in Spokane County, where a new report says half of renters are spending over 30 percent of their income on rent.
Rents in the Spokane market have increased notably over the past year and a half. That’s according to Terri Anderson, co-director of the Spokane Tenants Union.
The Spokesman-Review reports that rents in Spokane are rising while wages remain stagnant.
Besides stagnant incomes, Spokane is facing another factor that’s driving up rent: low apartment vacancy and high demand.
Spokane has a 2.9 percent apartment vacancy rate with an average rental rate of $886, according to a September 2017 report by the University of Washington’s Runstad Center for Real Estate Studies.