Tri-Cities apartment occupancy is down

Tri-Cities apartment occupancy is down »Play Video
TRI-CITIES, Wash. -- It's getting easier to find an apartment in the Tri-Cities.

Dora Holcroft is both a landlord and a tenant. She rents out a home in Richland, while she lives in an apartment.

"I moved here in February this year and I was looking for a place temporarily, and this is the place," said Dora.

Dora thought it might be hard finding a decent rental.

"I had an idea where I wanted to move since I was 20, if I ever needed an apartment, this would be the place," said Dora.

To her surprise, she was happy to find a two bedroom for $776 at Riverpoint in Richland.

That's less than the average price of a two bedroom in the city, which may be because demand isn't as high as supply.

In fact, occupancy rates are lower than they have been in years in the Tri Cities. It's the highest in Pasco, where only five percent of rentals are available.Kennewick is just behind with six percent open. In Richland, it's eight percent free, and 92 percent taken.

"I've seen moving trucks in other apartments and I'm sure that's what they're doing, moving in and out," said Dora.

So what does this mean for rent in the Tri Cities? Prices may be dropping.

The average rent for a two bedroom apartment is the lowest in Kennewick, with $773. Its about ten bucks more in Pasco.
The average in Richland is just under 850 dollars.

These numbers are the lowest rental rates seen in four years.

As the vacancies widen, more complexes are offering incentives to draw in potential renters.

Utilities, amenities, and even free wi-fi are being thrown in by some, which makes it easier to shop around before you sign a lease.