There’s little argument that rising rents lead to an increasing number of people forced out of their homes, but real estate listing website Zillow is adding to the conversation.
In a new report released Aug. 3, the Zillow research team found that a 5 percent average increase in rent in Seattle would increase the homeless population by 258 people. The report also examined the impact of rising rents in Los Angeles, Washington, D.C., and New York.
Rents are skyrocketing in Seattle, a combination of demand, lack of affordable options, a reliance on property taxes and the propensity for developers to build new luxury units that can command top-tier monthly rents. This has been paralleled by an alarming increase in the number of people in the city experiencing homelessness.
The most recent count of people experiencing homelessness found 5,485 people living unsheltered in January in King County.
Ashley Archibald is a Staff Reporter covering local government, policy and equity. Have a story idea? She can be can reached at ashleya (at) realchangenews (dot) org. Twitter @AshleyA_RC
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