The Seattle rental market shivered just a little this winter as rental prices cooled slightly from October to November, according to the latest report from Zumper. Rent prices were down 3.5 and 3 percent for one- and two-bedrooms, respectively. Seattle held its spot as the 10th most expensive rental market in the country in November, but median rent for a one-bedroom was $1,650, down from $1,710 in October.
The Year 2015 in Review
Rent increased across the vast majority of urban areas in the US this year with only a few cities experiencing drops. Some cities saw more significant changes than others.
Most notably, Golden State trumped Cleveland again — only this time in the housing market, not on the basketball court. Oakland saw a striking 19 percent rent increase overall in 2015, while Cleveland experienced a 10.3 percent drop this year.
Cleveland. Photo: Eric Drost/Flickr
Will the results of the Golden State vs. Cavaliers Christmas rematch forecast the status of the rental market in 2016? Who can say. Maybe if the Seattle Sonics hadn’t been stolen from us, we would have more to contribute on the topic.
Speaking of which, Oklahoma City saw an 8.6 percent year-over-year increase in rent prices in November compared to Seattle’s 2.5 percent increase. Funny how that works…