zumper-0 Photo: Sydney Parker

The rental market in Seattle is gearing up for a busy spring. The median monthly rent for Seattle one-bedroom apartments rose three percent month-over-month in February to $1,700, while two-bedrooms increased 1.3 percent to $2,360, according to Zumper’s National Rent Report. Seattle is still the 10th most expensive metro area for renters in the US.

zumper-1 Graphic: Zumper

More people are choosing to rent instead of buy as record low single-family housing inventory drives up prices to unaffordable levels. Homes sold in King County hit a new all-time high last month — $514,975, up 20 percent from last year, reports The Seattle Times.

San Francisco, New York, Boston and Oakland hold steady as the fab four rental markets in the country. New York one-bedroom units increased 1.9 percent reaching median asking rents of $3,280. One bedrooms in New York have increased a significant 9.3 percent in the past year alone.

zumper-2 Graphic: Zumper

As Harvard University’s Joint Center for Housing Studies reported in December, 37 percent of all households nationwide now rent, the highest level since the mid-1960s. Will this rental market trend continue? Wait and see what Seattle’s spring has in store

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