By most accounts, rent in the Seattle area went up on June. The amount it jumped depends on which location. A one bedroom apartment now rents in the range of $1,330 to $1,920.
According to Apartment List, median rent for a two bedroom is just a few hundred dollars more, at $1,660. Overall, the percentage of increase for the entire area was 5.2 percent compared with June of 2016. They calculate the actual rent that people are paying, not just the rate that is advertised for an apartment or house.
However, Seattle’s rent increases are not in the top ten nationally, as many measures of rentals skew toward newer luxury developments. Nationally Apartment List ranks the Seattle rent market at number 12, behind Vancouver Washington.
They also report that rents skyrocketed in other areas, including Tacoma, Renton, Kent, and Puyallup. Rental increases ranged from 6.8 percent to 8.6 percent from year to year.
Tacoma, Renton, Kent, and Puyallup skyrocketed, with year over year increases from 6.8 percent to 8.6 percent.
How do you know your rent rate is fair for your area? Use our Rent Rate Analysis tool. Just enter a search, and come up with complete information comparing your rent to others in the area, and estimates of what your monthly income should be to afford it.