Report: Seattle rents see modest increase, lag behind national average
Mar 2, 2019, 6:47 AM
According to Apartment List’s March 2019 Seattle rent report, the city’s rent prices saw just a modest increase over the past month, lagging behind the state and national averages.
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Seattle renting prices grew 0.3 percent over the past month, and 0.6 percent over last year at this time. Still, the city is under both the state and national averages. Rents increased statewide over the last year 1.1 percent, while national rents went up 0.9 percent.
Median rent for a one-bedroom apartment in Seattle right now runs residents $1,330 , and $1,650 for a two-bedroom. This is also the second straight month the city’s rent has gone up, following a December drop.
The most expensive place to live in the Seattle metro area continues to be Bellevue, with the city’s median rent sitting at $2,330 per month for a two-bedroom apartment. Checking in at the cheapest rent in the region is Lakewood, at just $1,450 for a two-bed.
Seattle’s two-bedroom rental rates are roughly on par with Everett and Marysville in Washington, and with Los Angeles and Washington, D.C. out of state.
Of the 10 cities in the Seattle metropolitan area — that Apartment List had data on — nine of them saw prices rise over the last year. Marysville was the only city in that group to record a dip.
While Seattle’s rental prices are certainly far from the realm of cheap, it still remains well below massively expensive cities like San Francisco and New York, that are currently stuck with median rents of $3,100 and $2,510 for a two-bedroom apartment respectively.
You can check out the full report from Apartment List here.
