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Where rents are growing the most — and least — in the Seattle metro

by Emily Marek

Despite its rank as the 16th most expensive large city in the nation, Seattle rent prices have remained statistically flat this summer. According to Apartment List, the median rents in Seattle last month — $1,926 for a one-bedroom and $2,404 for a two-bedroom — are up only 0.8% from May and 0.4% year over year.

That means Seattle’s rent growth over the past year is slower than the state’s average, which increased 1.4% year over year, but higher than the national average, which slipped 0.7% year over year. Of course, rents in different neighborhoods and areas within the Seattle metro are growing (or slowing) at their own paces.

In Shoreline, for example, monthly rents declined 4.7% year over year and 0.4% month over month in June, with a median one-bedroom rental costing $1,659 per month and a median two-bedroom rental costing $2,076 per month.

Similarly, prices were slow to grow in Renton, Kent and Everett, which all saw little to no annual growth and slight decreases from May to June.

On the flip side, rent prices are growing much faster than the national average in Issaquah: Monthly rents there rose 5.6% year over year and 2.4% month over month in June, with a median one-bedroom rent of $2,303 and a median two-bedroom rent of $2,711.

Prices also jumped in Newcastle, up 2.6% year over year and 1.8% month over month; in Kirkland, up 5.5% year over year and 1.7% month over month; and in Bothell, up 2.5% year over year and 1.7% month over month.

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