Seattle rents have increased 0.7 percent over the past month in August, and have increased significantly by 5.8 percent in comparison to the same time last year, according to the September report from Apartment List.
Now median rents in Seattle are $1,720 for a one-bedroom apartment and $2,079 for a two-bedroom.
This is the seventh straight month that the city has seen rent increases after a decline in January. Seattle’s year-over-year rent growth lags the state average of 8.6 percent, as well as the national average of 10.0 percent.
Rents rising across the Seattle Metro
Throughout the past year, rent increases have been occurring not just in the city of Seattle, but across the entire metro.
Of the largest 10 cities that Apartment List has data for in the Seattle metro, all of them have seen prices rise.
Here’s a look at how rents compare across some of the largest cities in the metro.
- Redmond has the most expensive rents in the Seattle metro, with a two-bedroom median of $2,505; the city has also seen rent growth of 15.0 percent over the past year, the fastest in the metro.
- Over the past month, Bellevue has seen the biggest rent drop in the metro, with a decline of 1.1 percent. Median two-bedrooms there cost $2,420, while one-bedrooms go for $2,168.
- Lakewood has the least expensive rents in the Seattle metro, with a two-bedroom median of $1,459; rents increased 0.6 percent over the past month and 3.9 percent over the past year.