Seattle has the second-hottest apartment market in the country, with renters snapping up them up just as fast as developers can put them up, Zillow reports. Only Columbus, OH, bested Seattle in that regard, with Denver coming in third.
To compile the list, Zillow looked at the share of rental apartments built in 2011 or after, the percent of new apartment units built in the last year that rented within three months of being built, and the rent appreciation of apartments over the past year.
New apartments in Seattle are 3.9% of all rentals, and 69% of those new units are gone in three months or less. Some submarkets have seen double-digit rent growth. Hot indeed.
