Kent apartment rents up 5.2% compared to November 2021
Published 3:24 pm Wednesday, November 30, 2022
The median apartment rent in Kent fell by 0.3% in November compared to the previous month. Rents are up 5.2% over the past year.
Median monthly rent for a one-bedroom apartment in Kent is $1,452 while a two-bedroom is $1,872, according to the latest report from apartmentlist.com.
Kent’s rent growth over the past year has has outpaced the state average (2.4%) and is similar to the national average (4.6%).
Kent’s rent growth in 2022 is pacing below last year. Eleven months into the year, rents in Kent have risen 5.4%. This is a slower rate of growth compared to what the city was experiencing at this point last year as from January to November 2021 rents had increased 16.1%.
Kent’s median rent at $1,766 is 3.6% higher than the Seattle-Tacoma metro-wide median. Metro-wide annual rent growth stands at 2.5%, below the rate of rent growth within just the city.
Mercer Island is currently the most expensive, with a median rent of $2,327. Lakewood is the metro’s most affordable city, with a median rent of $1,359. The metro’s fastest annual rent growth is occurring in Renton (7.4%) while the slowest is in Mercer Island (-4.4%).
