Seattle just ranked as having one of the highest rent increases in the US

Seattle, expensive? Ground breaking. Well, Redfin’s rental market tracker has put our rainy city back on the radar for being you guessed it, pricey. Let’s take a look at the rental market and just how much things are evolving.

According to Redfin, the typical US asking rent surpassed $2,000 a month for the first time in May. That means we’re seeing a rising 15% year over year to a record high of $2,002. The rise is on par with April’s annual increase of 15%, but a slower than March’s 17% gain.

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So where does Seattle stand in that? Here are the top 10 metro areas with the fastest-rising rents year over year.

1. Austin, TX (48%)
2. Nashville, TN (32%)
3. Seattle, WA (32%)
4. Cincinnati, OH (32%)
5. Miami, FL (29%)
6. Fort Lauderdale, FL (29%)
7. West Palm Beach, FL (29%)
8. New York, NY (24%)
9. Nassau County, NY (24%)
10. New Brunswick, NJ (24%)

To put that in perspective, the median asking rent in Seattle is $3,097. Yikes! But hey, if you grow tired of Seattle you can always move to one of the cities where rent has decreased. Those cities are as follows.

1. Milwaukee, WI (-10%)
2. Kansas City, MO (-3%)
3. Minneapolis, MN (-3%)

If you’d like to learn more, you can check out the full Redfin report.