Apartment rents in Kent increased 2.0% in March over February, and are up sharply by 16.2% in comparison to the same time last year.<\/p>\n
Currently, median rents in Kent stand at $1,523 for a one-bedroom apartment and $1,949 for a two-bedroom, according to apartmentlist.com. This is the third straight month that the city has seen rent increases after a decline in December 2021. Kent’s year-over-year rent growth lags the state average of 17.8%, as well as the national average of 17.1%.<\/p>\n
Throughout the past year, rent increases have been occurring not just in the city of Kent, but across the entire metro area, according to apartmentlist.com.<\/p>\n
Bellevue has the most expensive rents in the Seattle metro area, with a two-bedroom median of $2,573; the city has also seen rent growth of 20.9% over the past year, the fastest in the area.<\/p>\n
Over the past month, Tacoma is the only city in the metro area that has seen rents fall, with a decline of 0.2%. Median two-bedrooms there cost $1,598, while one-bedrooms go for $1,218.<\/p>\n
Lakewood has the least expensive rents in the Seattle-Tacoma metro, with a two-bedroom median of $1,540; rents grew 0.2% over the past month and 11.9% 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 17.8% over the past year. For example, rents have grown by 15.8% in Spokane and 13.3% in Vancouver.<\/p>\n
Kent’s median two-bedroom rent of $1,949 is above the national average of $1,306. Nationwide, rents have grown by 17.1% over the past year compared to the 16.2% rise in Kent.<\/p>\n
While Kent’s rents rose sharply over the past year, many cities nationwide also saw increases, including New York City (+33.3%), Phoenix (+25.4%), and Austin (+22.6%).<\/p>\n","protected":false},"excerpt":{"rendered":"
Rates up 16.2% compared to March 2021 <\/p>\n","protected":false},"author":212,"featured_media":56366,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,4],"tags":[],"yst_prominent_words":[],"class_list":["post-56365","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-home","category-news"],"_links":{"self":[{"href":"https:\/\/www.kentreporter.com\/wp-json\/wp\/v2\/posts\/56365"}],"collection":[{"href":"https:\/\/www.kentreporter.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.kentreporter.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.kentreporter.com\/wp-json\/wp\/v2\/users\/212"}],"replies":[{"embeddable":true,"href":"https:\/\/www.kentreporter.com\/wp-json\/wp\/v2\/comments?post=56365"}],"version-history":[{"count":0,"href":"https:\/\/www.kentreporter.com\/wp-json\/wp\/v2\/posts\/56365\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.kentreporter.com\/wp-json\/wp\/v2\/media\/56366"}],"wp:attachment":[{"href":"https:\/\/www.kentreporter.com\/wp-json\/wp\/v2\/media?parent=56365"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.kentreporter.com\/wp-json\/wp\/v2\/categories?post=56365"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.kentreporter.com\/wp-json\/wp\/v2\/tags?post=56365"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/www.kentreporter.com\/wp-json\/wp\/v2\/yst_prominent_words?post=56365"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}