Apartment rents in Kent are up 18% compared to the same time last year and increased 1.8% in May compared to April.<\/p>\n
Median rents in Kent stand at $1,462 for a one-bedroom apartment and $1,885 for a two-bedroom, according to the latest monthly report from apartmentlist.com.<\/p>\n
This is the fifth straight month that the city has seen rent increases after a decline in December 2021. Kent’s year-over-year rent growth leads the state average of 15.2%, as well as the national average of 15.3%.<\/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 metro area with a two-bedroom median of $2,383; the city has also seen rent growth of 22.4% over the past year, the fastest in the area, according to apartmentlist.com.<\/p>\n
Lakewood has the least expensive rents, with a two-bedroom median of $1,421; rents grew 0.8% over the past month and 10.0% 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 15.2% over the past year. For example, rents have grown by 12.2% in Vancouver and 10.0% in Spokane.<\/p>\n
Kent’s median two-bedroom rent of $1,885 is above the national average of $1,320, according to apartmentlist.com. Nationwide, rents have grown by 15.3% over the past year compared to the 18.0% 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 (+29.5%), Phoenix (+20.5%), and Austin (+19.2%).<\/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 $1,278, where Kent is nearly one-and-a-half times that price.<\/p>\n","protected":false},"excerpt":{"rendered":"
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