Apartment rents in Kent jumped 1.9% in April from the previous month and have increased 17.5% in comparison to the same time last year.<\/p>\n
This is the fourth straight month that the city has seen rent increases after a decline in December 2021, according to a monthly report by apartmentlist.com. Kent’s year-over-year rent growth leads the state average of 16.4%, as well as the national average of 16.3%.<\/p>\n
Median rents in Kent stand at $1,552 for a one-bedroom apartment and $1,987 for a two-bedroom, according to apartmentlist.com.<\/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 area, with a two-bedroom median of $2,654; the city has also seen rent growth of 21.5% over the past year, the fastest in the metro area.<\/p>\n
Lakewood has the least expensive rents in the Seattle-Tacoma metro area, with a two-bedroom median of $1,562; rents grew 1.1% over the past month and 10.9% 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 16.4% over the past year. For example, rents have grown by 13.6% in Spokane and 12.3% in Vancouver.<\/p>\n
Kent’s median two-bedroom rent of $1,987 is above the national average of $1,319. Nationwide, rents have grown by 16.3% over the past year compared to the 17.5% 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 (+31.8%), Phoenix (+23.3%), and Austin (+21.5%).<\/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 $1,342, where Kent is nearly one-and-a-half times that price.<\/p>\n","protected":false},"excerpt":{"rendered":"
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