Life is ever-changing and so is rent! Seattle may be expensive but as you may have seen lately, rental costs have been declining bit by bit each month. Here’s a look at the average cost of rent in Seattle right now and the cheapest areas to live.
Continuing in the downward spiral, Seattle rents are down 0.9% month-over-month and down 1.1% year-over-year, according to Apartment List. That means the overall median rent in the city sits at $1,655. For a further breakdown, you can expect the median rent for a one-bedroom to be $1,532 while rent for a two-bedroom sits at $1,852.
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It’s worth noting that on top of all of this, Seattle’s rent growth over the past year has fallen behind both the state (1.7%) and national averages (3.3%). That means we currently sit in 86th place for rent growth among large US cities. But even with the decline in rents, we still sit at 28th place among the most expensive large cities in the US.
So where is the cheapest place to live?
Right now, Lakewood is the most affordable place in the Seattle metro area with a median one-bedroom rent of $1,138, and a median two-bedroom rent of $1,391. The neighboring city of Tacoma is a bit more expensive with median one-bedroom rent of $1,180 and median two-bedroom rent of $1,507.
Good luck out there!
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