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Seattle is an expensive place to live. But just how expensive? Property marketplace Nested has the breakdown.
An analysis by the firm shows Seattle continues to be one of the most expensive rental markets in the United States.
The study compared the price of renting per square foot across 33 London boroughs, 15 U.K. cities, and 72 cities worldwide – including Seattle. Nested calculated the price per square foot based on current market listings, using the minimum space recommended for one person (or four, for family listings). A minimum salary was included to help illustrate relative affordability.
Data from property rental website Zumper shows the price of a Seattle one-bedroom unit has gone up a staggering 8.5 percent from a year ago– something that’s not been missed by renters. Still, low inventory and rising prices are making it difficult to buy a house, so it’s tough to say whether buyers or renters are the better deal in today’s housing market.
Globally, San Francisco took the top spot as the most expensive rental market. It’s followed by New York, Hong Kong, Dubai and Singapore.
Click through the slideshow above to see how Seattle compares to other rental markets around the U.S.
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