A recent report by Zumper analyzed active listings in 11 metropolitan areas in Washington to determine which areas are cheapest and which areas have the fastest rising rents.
The report found Seattle ranks fourth among the most expensive, with an average cost of $ 1,750 for a one-bedroom apartment. This rate reflects an increase of 3.6% from the previous month and an increase of 9.4% from the previous year. It’s also well above the average price of a one-bedroom Washington apartment, which was $ 1,430 last month, according to the report
Compared to other US cities, Zumper’s October national report found Seattle to be the 14th most expensive rental market in the country, with one- and two-bedroom prices averaging $ 1,750 and $ 2,340, respectively.
Looking at the most expensive rental apartments in Washington over the past month, Bellevue topped the report with an average rent of $ 2,100 for a one-bedroom bedroom. It also had a higher price trend with a nearly 13% increase over the previous year.
The second and third most expensive rental cities also recorded the highest year-on-year price increases. Kirkland, which ranks second, has an average monthly rental price of $ 1,980 for a bedroom, up 15.1% year over year. Redmond, in third place, has a similar monthly rate of $ 1,960, which is 15.3% higher than last year.
Bellingham had the lowest average monthly rental price of $ 1,170 on the report. However, it was not the area with the smallest increase. While the average cost decreased 1.7% compared to the previous month, Zumper found that the price increased by 3.5% compared to the previous year.
Olympia – in the mid to low range of the report’s average rental list – had the lowest year-over-year rent increase. It showed a 2.1% difference year over year and was $ 1,430 for a one bedroom bedroom.
Other cities on the lower end of the rental spectrum include Lakewood, the second to cheapest with an average monthly rental price of $ 1,210. Everett took third place with an average price of $ 1,370 for a one-bedroom apartment.
Of the 11 cities examined in the report, seven had higher rental prices than the national average. Olympia hit the state average, while Everett, Lakewood, and Bellingham were lower.