Latrice Williams: Rapidly rising rents increase housing instability for all

As a mother of seven, most recently becoming a grandmother, nothing matters more to me than knowing our children will be safe and thrive, not just today, but after we’re no longer able to care for them. Working as I do in real estate, I helped my three oldest kids find places to live, but they don’t have the housing stability they deserve. They are experiencing rent gouging at its worst – rent going from $700 to $1,300 in six months, with just 20 days’ notice.

Last year set a state record for the highest number of eviction filings. In January, we saw the highest number in one month, with 2,325 evictions filed to remove people from their homes. According to data from the Washington Office of Civil Legal Aid, the vast majority of these evictions are a result of renters no longer being able to afford their rent. The U.S. Government Accountability Office study found a $100 increase in median rental price was associated with about a 9% increase in the estimated homelessness rate.

My children are living in fear of being evicted because they can’t keep up with these huge rent hikes. And for those who don’t have the support of relatives who can help, the threat of displacement and homelessness is all too real. The dream of homeownership – and the predictability of a fixed 30-year mortgage – seems more out of reach than ever. With these large rent increases, it will be impossible for so many young people today to save enough for a down payment.

According to recent United States Census Data, 877,000 renter households in Washington received a rent increase of over $100 a month in the past 12 months. More than half – 57% – of renter households with children under the age of 18 received a rent increase of over $100. Excessive rent increases disproportionately impact people of color because a higher percentage of households of color are renter households. Black renter households received higher rent increases than other racial groups. A quarter of Black renter households received rent increases of over $250.

Property owners should live up to their contractual agreements, and also realize that stable, long-term tenancies are valuable. But too many landlords are proving that they need boundaries. Increasing rent to “what the market will bear” to maximize profits comes at the expense of the well-being of our communities and our local economies in Eastern Washington.

Solving our housing crisis is a top priority for Washingtonians. According to a recent public opinion survey, a huge majority – 72% – of Washingtonians support a policy under consideration by state lawmakers to limit rent increases to no more than 7% a year. Support cuts across geography, age, income and other demographics. Both renters and homeowners support rent stabilization because housing instability affects all of us.

The harm done when landlords levy excessive rent hikes on their tenants is preventable and unnecessary. I hope our legislators don’t let another year go by without acting on rent stabilization to provide the stability and predictability all renters and manufactured homeowners deserve. Failing to stop rent gouging will reverse any progress we are making toward racial equity in housing.

Latrice Williams is managing broker and owner of Vision Properties, a residential and commercial real estate firm in Spokane.