Median apartment rents in Seattle have increased dramatically during the past year due to low rates of vacancy and a climb from falling prices at the start of the pandemic, according to an industry tracker.
Apartment List just released its national rent report, and its findings provide an image of an increasingly costly Seattle for renters. The report finds that rent in Seattle increased by 18.9% over the past year, considerably higher than the national average increase of 17.1% during that same time.
“So far the rent growth we’ve seen this year has been slower than what we saw last year, but still above expected averages,” said senior research associate Rob Warnock.
As per the report, the median monthly rent of a two-bedroom apartment in the city of Seattle weighs in at a staggering $2,097– over seven hundred dollars more per month than the nationwide average of $1,306. One-bedrooms in Seattle are similarly high, climbing to $1,681 against a national average of $1,139. Continue reading