Kent apartment rents declined 0.2% in January, but have increased sharply by 14.4% in comparison to the same time last year.<\/p>\n
Currently, median rents in Kent stand at $1,469 for a one-bedroom apartment and $1,880 for a two-bedroom, according to apartmentlist.com. This is the third straight month that the city has seen rent decreases after an increase in October of last year. Kent’s year-over-year rent growth lags the state average of 19.8%, as well as the national average of 17.8%.<\/p>\n
Throughout the past year, rent increases have been occurring not just in the city of Kent, but across the entire Seattle-Tacoma metro area.<\/p>\n
Bellevue has the most expensive rents in the Seattle metro area, with a two-bedroom median of $2,463; the city has also seen rent growth of 0.7% over the past month, the fastest in the metro.<\/p>\n
Over the past month, Tacoma has seen the biggest rent drop in the metro, with a decline of 1.1%. Median two-bedrooms there cost $1,625, while one-bedrooms go for $1,238.<\/p>\n
Lakewood has the least expensive rents in the metro area, with a two-bedroom median of $1,548; rents went down 0.6% over the past month but rose 14.4% 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, according to apartmentlist.com.<\/p>\n
Rents increased sharply in other cities across the state, with Washington as a whole logging rent growth of 19.8% over the past year. For example, rents have grown by 19.3% in Spokane and 14.7% in Vancouver.<\/p>\n
Kent’s median two-bedroom rent of $1,880 is above the national average of $1,285. Nationwide, rents have grown by 17.8% over the past year compared to the 14.4% increase in Kent.<\/p>\n
While Kent’s rents rose sharply over the past year, many cities nationwide also saw increases, including New York City (plus 33.5%), Phoenix (plus 27.9%), and Boston (plus 25.7%).<\/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 $1,293, where Kent is nearly one-and-a-half times that price.<\/p>\n","protected":false},"excerpt":{"rendered":"
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