Apartment rents in Kent dropped 1.3% in December 2022 compared to the previous month.
Prices are up 4% compared to December 2021, according to the latest report by apartmentlist.com. Median monthly rent is $1,431 for a one-bedroom unit and $1,845 for a two-bedroom apartment.
Kent’s rent growth of 4% over the past year has outpaced the state average (1.9%) and is similar to the national average (4.0%). From January 2021 to December 2021 rents had increased 15.7%.
For the Seattle-Tacoma metro area, the median rent is $1,722 meaning that the median price in Kent ($1,803) is 4.7% greater than the price across the metro as a whole. Metro-wide annual rent growth stands at 1.9%, below the rate of rent growth within just the city.
Mercer Island is currently the most expensive, with a median rent of $2,323. Lakewood is the metro’s most affordable city, with a median rent of $1,354. The metro’s fastest annual rent growth is occurring in Auburn (7.8%) while the slowest is in Mercer Island (-2.1%).
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