Tri-Cities May See Apartment Vacancies With Lost Jobs
TRI-CITIES -- As thousands of layoffs hit our region this may actually free up the housing squeeze.
KEPR has covered the tight rental market for years and now we're learning the tide may be turning as people leave the Tri-Cities.
Tabitha and Lonnie are moving into their new apartment after spending two months looking for just about anything.
"My husband came across this one, The Crossing at Chapel Hill and the people that were living in our apartment just moved out and we're moving right back in behind them," said Tabitha McEntire.
They came here from Texas and knew it would be hard to find a place, but not nearly impossible. They were living in a four bedroom house, but couldn't find something as big.
"We had to settle for less, it would not have been my first choice to be in a bad home with six people," said Lonnie McEntire.
Kasey McComas manages the Chapel Hill apartments in Pasco and has seen more people leaving, and the empty apartments sitting longer without a renter.
"In the past two months we've had six people break their lease that worked out in the area that are trying to find a different job and get out while they can," said Kasey.
KEPR called a number of other properties around the Tri-Cities and found the same thing. Seasons at Fourth Avenue in Kennewick said this is the first time in months they have had five apartments available. This could mean lower rents are around the corner.
"I’m sure future prospectors in apartment hunting are going to start seeing specials arise," said Kasey.
Jessica Baken would be happy to see that. She says her rent at Silver Creek in Pasco went up $200.
"I'm happy that I have options but I wish there were more. I know there’s a lot available, the majority of people are college students so it's going to be hard," said Jessica.
On the Boulevard in Richland has carried a long waiting list for tenants in the past and they told us that hasn't changed. But where they normally get a handful of notices about people moving every month, they're now getting up to 12.
Other apartments are seeing the same thing, and expect more specials and last minute vacancies to open up as jobs are lost and people leave.
The actual occupancy rate for the Tri-Cities is only calculated twice a year. The most current rate was 99 percent and that was in March. The next will be done in September, about the same time the Hanford layoffs will be complete.
KEPR has covered the tight rental market for years and now we're learning the tide may be turning as people leave the Tri-Cities.
Tabitha and Lonnie are moving into their new apartment after spending two months looking for just about anything.
"My husband came across this one, The Crossing at Chapel Hill and the people that were living in our apartment just moved out and we're moving right back in behind them," said Tabitha McEntire.
They came here from Texas and knew it would be hard to find a place, but not nearly impossible. They were living in a four bedroom house, but couldn't find something as big.
"We had to settle for less, it would not have been my first choice to be in a bad home with six people," said Lonnie McEntire.
Kasey McComas manages the Chapel Hill apartments in Pasco and has seen more people leaving, and the empty apartments sitting longer without a renter.
"In the past two months we've had six people break their lease that worked out in the area that are trying to find a different job and get out while they can," said Kasey.
KEPR called a number of other properties around the Tri-Cities and found the same thing. Seasons at Fourth Avenue in Kennewick said this is the first time in months they have had five apartments available. This could mean lower rents are around the corner.
"I’m sure future prospectors in apartment hunting are going to start seeing specials arise," said Kasey.
Jessica Baken would be happy to see that. She says her rent at Silver Creek in Pasco went up $200.
"I'm happy that I have options but I wish there were more. I know there’s a lot available, the majority of people are college students so it's going to be hard," said Jessica.
On the Boulevard in Richland has carried a long waiting list for tenants in the past and they told us that hasn't changed. But where they normally get a handful of notices about people moving every month, they're now getting up to 12.
Other apartments are seeing the same thing, and expect more specials and last minute vacancies to open up as jobs are lost and people leave.
The actual occupancy rate for the Tri-Cities is only calculated twice a year. The most current rate was 99 percent and that was in March. The next will be done in September, about the same time the Hanford layoffs will be complete.
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