New year, new rent averages! January is looking like a good month for renters as the average rent in Seattle has decreased. Here’s a look at how much it costs to rent in Seattle right now.
Apartment List has released its Seattle rent report for January 2024 and while still expensive, the numbers are better.
The latest report found that the median rent in Seattle fell by 1.9% last month, and is now $1,976. Overall, prices are now down 0.5% year-over-year.
“Twelve months into the year, rents in Seattle have risen 0.4%. This is a similar rate of growth compared to what the city was experiencing at this point last year: from January to December 2022 rents had increased 0.1%,” states the report.
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For a breakdown of size, the median rent currently stands at $1,844 for a 1-bedroom apartment. As for a 2-bedroom, it is now $2,301. Across all bedroom sizes, the report found the median rent is $1,976. “That ranks #17 in the nation, among the country’s 100 largest cities,” it states.
The median rent in Seattle is 43.3% higher than the national, but it is similar to the prices found in Oakland, CA ($2,021) and Miami, FL ($1,885).
Looking at the Seattle metro area, the median rent is $1,917, which means that the median price in Seattle proper ($1,976) is 3.1% greater than the price across the metro as a whole, according to Apartment List. .
Among the latest rent stats for 19 cities in the Seattle metro area, Issaquah is currently the most expensive, with a median rent of $2,378.
The most affordable city goes to Lakewood which has a median rent of $1,397.
Are you surprised at these costs?
