Renton apartment rents up 2.2 percent from last year

Prices have been rising for four straight months, after a decline in January.

  • Saturday, June 2, 2018 8:00am
  • News

Apartments rents in Renton are up 2.2 percent compared to the same time last year and increased 0.6 percent since the last month.

Prices have been rising for four straight months, after a decline in January, according to the May report from San Francisco-based Apartmentlist.com.

According to the site Renton’s year-over-year rent growth leads the state average of 1.6 percent, as well as the national average of 1.5 percent.

Median rents are $1,640 for a one-bedroom apartment and $2,040 for a two-bedroom.

The upward trend is apparent in surrounding cities as well.

Kent’s median two-bedroom rent of $1,800 is above the national average of $1,170.

Federal Way has seen the fastest rent growth in the metro area, with a year-over-year increase of 7.3 percent. The median two-bedroom there costs $1,730, while one-bedrooms go for $1,390.

Bellevue has the most expensive rents of the largest cities in the Seattle metro, with a two-bedroom median of $2,320; rents rose 0.7 percent over the past month but remained flat year-over-year.

Lakewood has the least expensive rents in the Seattle metro, with a two-bedroom median of $1,420; rents grew 1.1 percent over the past month and 5.3 percent over the past year.

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