Seattle Rents Continue Upward for 9th Straight Month

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Seattle rents increased again in September, marking the ninth straight month that the city has seen rent increases after a decline in December of last year, according to the September report from Apartment List.

Over the past month, Seattle rents have increased 0.2 percent, and have increased slightly by 1.4 percent in comparison to the same time last year.

Currently, median rents in Seattle stand at $1,364 for a one-bedroom apartment and $1,698 for a two-bedroom. Seattle’s year-over-year rent growth lags the state average of 1.7 percent, but is in line with the national average of 1.4 percent.

Rents rising across the metro

Throughout the past year, rent increases have been occurring across the entire Seattle metro.

Seattle Rents Continue Upward for 9th Straight Month

Of the largest 10 cities that Apartment List has data for in the Seattle metro, all have seen prices rise.

Here’s a look at how rents compare across some of the largest cities in the metro.

  • Lakewood has the least expensive rents in the Seattle metro, with a two-bedroom median of $1,502; the city has also experienced the fastest rent growth in the metro, with a year-over-year increase of 5 percent.
  • Over the past month, Renton has seen the biggest rent drop in the metro, with a decline of 0.7 percent. Median two-bedrooms there cost $2,116, while one-bedrooms go for $1,699.
  • Bellevue has the most expensive rents of the largest cities in the Seattle metro, with a two-bedroom median of $2,420; rents decreased 0.2 percent over the past month but were up 2.1 percent over the past year.

Seattle Rents Continue Upward for 9th Straight Month

As rents have increased slightly in Seattle, a few similar cities nationwide have also seen rents grow modestly. Compared to most other large cities across the country, Seattle is less affordable for renters.

  • Rents increased slightly in other cities across the state, with Washington as a whole logging rent growth of 1.7 percent over the past year. For example, rents have grown by 1.9 percent in Vancouver and 1.5 percent in Spokane.
  • Seattle’s median two-bedroom rent of $1,698 is above the national average of $1,189. Nationwide, rents have grown by 1.4 percent over the past year, which matches the increase in Seattle.
  • While Seattle’s rents rose slightly over the past year, many cities nationwide also saw increases, including Phoenix (+3.8 percent), Austin (+3.1 percent), and Boston (+1.8 percent).

Metro trends

Last month’s report:

Seattle Rents Increase Again For Eighth Straight Month

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