Kent apartment rents jumped 1.3% in August, and are up sharply by 10.8% in comparison to the same time last year.<\/p>\n
Currently, median rents in Kent stand at $1,421 for a one-bedroom apartment and $1,819 for a two-bedroom unit, according to apartmentlist.com. This is the sixth straight month that the city has seen rent increases after a decline in February. Kent’s year-over-year rent growth leads the state average of 10%, but trails the national average of 12.4%.<\/p>\n
Throughout the past year, rent increases have been occurring not just in Kent, but across the entire Seattle-Tacoma metro area.<\/p>\n
Tacoma has seen the fastest rent growth in the metro area, with a year-over-year increase of 18%. The median two-bedroom there costs $1,649, while one-bedrooms go for $1,257.<\/p>\n
Redmond has the most expensive rents of the largest cities in the metro area, with a two-bedroom median of $2,510; rents increased 2.8% over the past month and 11.8% over the past year.<\/p>\n
Lakewood has the least expensive rents in the metro area, with a two-bedroom median of $1,583; rents grew 1.9% over the past month and 16.0% over the past year.<\/p>\n
As rents have increased sharply in Kent, a few large cities nationwide have seen rents grow more modestly. Compared to most large cities across the country, Kent is less affordable for renters.<\/p>\n
Rents increased sharply in other cities across the state, with Washington as a whole logging rent growth of 10% over the past year. For example, rents have grown by 31.2% in Spokane and 14.3% in Vancouver.<\/p>\n
Kent’s median two-bedroom rent of $1,819 is above the national average of $1,246. Nationwide, rents have grown by 12.4% over the past year compared to the 10.8% rise in Kent.<\/p>\n
While Kent’s rents rose sharply over the past year, many cities nationwide also saw increases, including Phoenix (+22.9%), Austin (+19.2%), and New York (+14.4%).<\/p>\n
Renters will generally find more expensive prices in Kent than most large cities. For example, Spokane has a median two-bedroom rent of $1,375.<\/p>\n","protected":false},"excerpt":{"rendered":"
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