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KXLY
July 8, 2021 5:45 PM Esther Bower
SPOKANE, Wash. Some local landlords have gone over a year without rent and can’t keep up with stress and uncertainty that comes from maintaining rentals. Many are selling off properties they’ve owned for years, causing local rent to skyrocket for tenants.
Property values are on the rise in this booming city. In 2016, the median home price was $209,500. In 2020, it was $264,121. Now, it’s over $315,000. Local landlords have lost thousands of dollars during the eviction moratorium, and many see this time as a way to get off a sinking ship, selling off their rentals.
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