Seattle’s real estate has always been competitive, but since 2019 the local housing market has changed faster and more dramatically than many could have predicted. Today, rising prices, high mortgage rates, and economic uncertainty are reshaping the landscape for both residents and property owners. For homeowners and landlords, understanding the causes and consequences of Seattle’s affordability crisis is essential—because it’s changing rental demand, tenant expectations, and the strategies that protect your property investment.
Seattle’s Housing Affordability Challenge: What’s Really Happening
Home Prices Far Outpace Incomes
Seattle’s median home price soared from $675,000 in 2019 to $935,000 by mid-2025—a staggering 38.5% increase in just six years. At the same time, the median household income sits around $120,600 as of 2023. This means much of the local workforce, including would-be “move-up” buyers and long-time residents, are effectively locked out of ownership.
Rising Rents and Tenant Stress
It’s not just home buyers feeling pressure. Many Seattleites are renters by necessity, and more than 100,000 tenants are currently behind on rent in the metro area. At the same time, King County’s rental assistance programs have been slow to reach those most in need, helping less than 1% of at-risk households since 2021. Record-high mortgage rates mean newly purchased rental properties must charge steeper rents just to break even—often more than what tenants can afford.
Impacts for Seattle Homeowners and Landlords
Higher Turnover & Rising Vacancy: Rent-burdened tenants are more likely to move, creating costly gaps between leases.
Missed Rent & Maintenance Risks: Late payments can squeeze your budget, making timely property repairs harder.
Increased Competition: Renters have more options as developers rush to address the supply gap. Properties with proactive management, convenience, and clear communication attract—and keep—the best tenants.
Changing Renter Expectations: Today’s renters seek not just affordability, but comfort, transparency, and responsive service. A slow or outdated management approach can turn a good prospect away.
How Next Brick Empowers Seattle Homeowners
At Next Brick, we were property owners before we were property managers. We built our company to deliver the professionalism, responsiveness, and transparency we struggled to find ourselves. Here’s what sets us apart, especially in today’s affordability crisis:
Results-Focused, Tech-Enabled Management: With 600+ properties across Seattle, our technology and team help minimize vacancy (with over 250 showings/month), keep tenants paying on time (99.9% on-time rate), and streamline everything from leasing to maintenance.
Full Transparency, No Surprises: No hidden fees, no long-term lock-ins, and no maintenance markups—ever. Our simple pricing and proactive reporting let you track exactly how your property is performing.
Expert Leasing & Marketing: High-quality marketing, quick response times, and thorough tenant screening help your home rent faster and to the right people.
Owner Guarantees That Add Value: Our tenant placement, eviction, and pet guarantees show we stand behind our services. If a tenant placed by us needs to be evicted, we cover up to $2,000 in legal fees. If an approved pet causes excessive damage, we’ll pay up to $2,000 for repairs.
Hands-Off Experience: From regular inspections to lease renewals, maintenance, and monthly statements, we do all the heavy lifting. You simply enjoy your investment’s returns—no micromanaging required.
Frequently Asked Questions
How do I get started with Next Brick?
Just send us your rental details or schedule a call, and we’ll guide you step-by-step.
Do you require a long contract?
No. You can cancel at any time with 30 days’ notice, no penalty.
What if Next Brick can’t rent out my home quickly?
If we don’t secure a tenant within 30 days, your first month’s management fee is free.
Do you charge hidden fees?
Never. Our pricing is simple and fully transparent, with no markups or surprise charges.
How do you keep tenants paying on time?
With proven screening, responsive support, and streamlined online payment systems. Our on-time rent rate is 99.9%.
What if my tenant causes damage or stops paying?
Our guarantees offer real protection—including coverage for eviction/legal fees and pet-related damage (as per our terms).
Seattle’s housing challenges are real, but with a proactive and expert partner, you can turn this market to your advantage.
Ready for rental property peace of mind?
Contact Next Brick today for a free rental analysis and experience just how easy hands-off, results-first property ownership can be.
