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A monumental change hit Washington’s rental market this month, one in the works for years: caps on rent hikes.
But what it means for cash-strapped residents, and whether it will curb a market where housing costs have soared in recent decades, remains a live question.
Gov. Bob Ferguson signed a bill into law earlier this month capping annual rent hikes at 10% per year for many apartments and 5% at mobile home parks. That means that for a tenant in a $1,500 apartment covered by the new law, their rent could increase to no more than $1,650 in a single year.
Supporters say the new caps offer a commonsense way to give tenants more...
Read MoreOur thoughts on this story:
Washington needs to now prepare for all mobile home parks to be torn down to build apartments. How in the world can you have a 5% cap on mobile home park rents and 10% on apartments? That’s the dumbest thing I’ve ever heard. So here’s a simple message to all park owners in Washington: 1) go get the permits to build apartments and 2) tear down your park and build as many apartments as you can on the land. Apparently, that’s exactly what the state wants you to do.
But first, let’s see how this holds up in court as it will surely be litigated.

