Kitsap apartment rents up 15 percent in 2015

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Rent for apartments in Kitsap surged 15.4 percent in 2015, according to Tom Cain of Apartment Insights Washington. 

The average rent per apartment unit in the county was $1,071 in the fourth quarter of 2015, an increase of $143 from the same period of 2014.

Apartment vacancies eased slightly to 3.44 percent in the fourth quarter. Vacancies are still much lower than in years past.

The market was tightest in Bremerton, where about 2.64 percent of apartments were vacant. About 4.12 percent were available in the Bainbridge Island/Poulsbo submarket.

Apartment Insights collects its numbers by surveying apartment complexes with 50 or more units.

NOTE: A reader asked me to better define what the term “unit.” In this case it refers to any apartment, regardless of the number of bedrooms. The average per-unit rent is simply the average rent for all apartments in the area. 

Here’s a graphical look at apartment trends in the county:

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