Downtown Seattle apartment rents rose ahead of Amazon's full-time RTO, report finds
Downtown Seattle apartment rents increased 2.5% year over year ahead of Amazon's return to the office five days a week, according to a report from Redfin published Wednesday.
Looking at data from Pioneer Square, Belltown, the China International District and Denny Triangle, Redfin found that the median monthly asking rent rose to $2,000 in December, the first rise in 17 months.
"As new construction levels off and workers from large companies like Amazon increasingly expect their staff to work daily in downtown offices, rents may start ticking up in Seattle's inner-ring neighborhoods where commuting is made easier," Sheharyar Bokhari, a senior economist at Redfin, said in the report.
Amazon called its corporate workers back to the office full time starting Jan. 2. The Seattle-based tech giant's corporate workforce had been working in person three days a week for over a year when Amazon announced in September it would increase its in-office mandate.
https://www.bizjournals.com/seattle/news/2025/01/29/seattle-rents-rise-as-amazon-comes-back.html
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