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Luna Sol Luna Sol Apartments is located at 11415 Slater Ave. NE in the Eastside neighborhood.

KIRKLAND, WA—Amazon, Facebook, Google and other tech giants continue to recruit thousands of new employees for positions in Seattle, supporting strong in-migration trends across the metro, according to a third-quarter report by Marcus & Millichap. And, a shortage of single-family housing and a rapidly growing economy is spurring more residents to rent.

With the city growing at such a rapid rate, housing affordability has become one of the greatest issues the metro faces. In King County, the median home price climbed 9% during the past year to $715,000, while in Snohomish County, the median passed $500,000 for the first time recently, generating strong demand for more affordable rental housing. With deliveries falling to the lowest point since 2012, year-end vacancy will decline for the first time in four years to maintain rent growth above 5% this year.

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Lisa Brown

Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.

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