R
ental prices in Tacoma have climbed at a faster rate than anywhere else in the nation, and South Sound residents are feeling the crunch.
rent increases and the fact he was approved for only a $150,000 loan put that dream out of reach. The average home price in Tacoma in April 2018 was nearly $350,000, according to the Tacoma News Tribune.
Median rents rose nearly 9 percent from 2016 to 2017—to $1,785 per month, an April 2018 Tacoma News Tribune article indicates. It was the largest increase of its kind in the nation. In recent months, more studies conducted by real estate research firms have shown similar trends. In June, KOMO News reported that four of the five neighborhoods nationwide with the fastest-rising year-over-year rent increases were in Tacoma, according to a Zillow report. In October, the Tacoma News Tribune reported that the rental price of a two-bedroom apartment in Tacoma is the same as in Washington, D.C.
But then he attended a real estate class and heard about Habitat for Humanity—an international organization that both builds and refurbishes homes to create affordable housing. He met with the local Tacoma/Pierce County Habitat branch, filled out an application and was approved to become a homeowner.
For Louis, a 69-year-old retired U.S. Navy veteran and Tacoma resident, it’s all too much. In the two years he has lived in the state, the rent for his one-bedroom apartment increased $175 per month—from $875 to $1,050. He moved here from Chicago with hopes to buy a home—it was the main goal he set for himself after leaving the Navy in 1970—but the
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“Habitat was a blessing,” he says. “With Habitat, an average-income citizen can buy a home.” Habitat’s Tacoma/Pierce County branch has built or refurbished more than 270 homes since its inception in 1985. Funded by donations, sponsorships from private companies and organizations, and government programs and grants, the organization’s local branch continues to build between 10 and 12 homes each year. Tracey Sorenson, Habitat Tacoma/ Pierce County’s community engagement manager, said that currently the