National rent study reveals most and least expensive WA cities

In an analysis of the most and least expensive cities to rent in by state, Washington’s least and most affordable cities have been revealed.

In Washington, Rentometer revealed that Moses Lake has the lowest average rent, at $1,995, while Bellevue is the most expensive, at $3,800.

“Median rents underscore the sharp divide between inland communities and high-demand tech-driven hubs,” Rentometer stated.

Rentometer’s national study examined roughly 1,500 U.S. cities, noting that crossing a municipal boundary — sometimes just 20 to 40 miles — can mean saving or paying tens of thousands of dollars per year.

Washington’s cheapest city for average rent, Moses Lake, clocked in as the eighth-most expensive “cheapest” city in the country. Only Delaware ($2,000), Nevada ($2,000), Massachusetts ($2,472), Arkansas ($2,500), Connecticut ($2,500), Rhode Island ($2,550), and Maine ($3,200) had more expensive “cheapest” cities. Oregon’s cheapest city for average rent, Grants Pass, has the same average rent as Washington’s cheapest city, Moses Lake.

This study was based on median rents for three-bedroom single-family homes in U.S. cities with at least 25,000 residents.

“One of the most striking patterns in the data is how sharply single-family rents can diverge over very short distances,” Renotmeter wrote. “In Michigan, Flint and Ann Arbor are less than an hour apart by car, yet they represent two very different rental markets. Median rent in Flint stands at $999, while in Ann Arbor it reaches $2,900, nearly three times higher. For both renters and property owners, outcomes are shaped less by statewide or even metro-wide averages and more by city-level fundamentals. In many cases, crossing a municipal boundary can translate into differences of more than $1,000 per month in achievable rents.”

Santa Monica, Calif. ($7,500), Coral Gables, Fla. ($5,995), Cambridge, Mass. ($5,500), White Plains, N.Y. ($4,900), and Princeton, N.J. ($4,600) averaged the highest rent in the country. Pine Bluff, Ark., Flint, Mich., Waterloo, Idaho, Decatur, Ill., and Jackson, Miss. had the lowest average rent among cities with at least 25,000 residents.

“In many states, moving just 20–40 miles can mean saving (or paying) over $1,000 per month,” Rentometer wrote. “As competition increases in high-cost areas, renters may increasingly consider secondary cities and outer suburbs as viable alternatives.”

The full study can be seen here.

Follow @http://twitter.com/Mynorthwest