Spokane rental market at near historic low vacancy rate - Spokane, North Idaho News & Weather KHQ.com

Spokane rental market at near historic low vacancy rate

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SPOKANE, Wash. -

It's tough to find an apartment to rent in Spokane.
    
The city's apartment vacancy rate is at a near-historic low of 1.3 percent.
    
That's according to the Washington Center for Real Estate Research.
    
The Spokesman-Review reports that a 5 percent vacancy rate is typical for a robust, healthy rental market. But Spokane's rate was last above 5 percent in March 2012.
    
Landlords say they receive dozens of responses within hours of posting ads for available rentals.
    
The roots of Spokane's rental shortage lie in the Great Recession. When the housing market collapsed in 2007, new construction halted and many people lost their homes to foreclosure.
    
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Information from: The Spokesman-Review, http://www.spokesman.com

(Copyright 2016 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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