Apartment rents in Kent have remained flat over the past month, however, they have increased 5.8 percent year-over-year.
Median rent prices in Kent prove to be less affordable than comparable cities nationwide – Kent’s median two-bedroom rent of $1,750 per month is above the national average of $1,160, according to the March report from Apartment List, Inc. The median rates are $1,410 per month for a one-bedroom apartment.
Over the past year, rent increases have been occurring not just in Kent, but across the largest 10 cities where Apartment List collects data for in the Seattle metro area, according to the report.
Kent’s year-over-year rent growth leads the state average of 3.5 percent, as well as the national average of 2.3 percent.
Bellevue has the most expensive rents in the Seattle metro area, with a two-bedroom median of $2,250; the city has also seen rent growth of 1.2 percent over the past month, the fastest in the area.
Lakewood has the least expensive rents in the Seattle-Tacoma metro area, with a two-bedroom median of $1,400; rents went down 0.1 percent over the past month but rose 5.5 percent over the past year.
Apartment List publishes monthly reports on rental trends for hundreds of cities across the U.S. The company intends these reports to be a source of reliable information that help renters and policymakers make sound decision.