Looking at Seattle rent prices can certainly be daunting, after all, our city is known for being expensive. That being said, rent does fluctuate and if you’re willing to live a bit further from the heart of the city, it doesn’t have to be so expensive. Apartment List has released its newest data on the Seattle area rental trends and we’re here to break it down for you.
To start, “the overall median rent in the city stands at $1,716, after falling 3.4% last month. Prices are now down 0.6% year-over-year.” What’s more, the areas rent growth over the past year has dropped below both the state (2.4%) and national averages (4.6%), according to Apartment List.
All of that change has led to a median rent of $1,589 for a one bedroom and $1,921 for a two bedroom in the Seattle area. Here’s where you can find cheaper rent.
Right now the cheapest places to live are Tacoma with a median rent of $1,198 (one bedroom) and $1,530 (two bedroom) and Lakewood with a median rent of $1,151 (one bedroom) and $1,407 (two bedroom). Other slightly less affordable areas include Lynwood, Everett, Federal Way and Auburn. In these areas, median rent for a one bedroom ranges from $1,323-$1,395.
Topping the list of most expensive places you’ll find Bellevue, Kirkland and Newcastle. Median rent for a one bedroom in these areas ranges from $2,000-$2,031.
When you take that comparison into consideration Seattle is sitting pretty securely in the middle. That being said, it still certainly isn’t cheap.
Kickstart 2023 with huge travel savings
Let's go on an adventure this week!
And it's almost February!!
Here's to a new week!
We're in for a chilly week, Vancouver! So layer up and be prepared to venture…