Kent apartment rents were pretty much flat in September with a slight decease of 0.1%.<\/p>\n
Year-over-year rent growth in Kent now stands at minus 0.4%, up from minus 4.7% one year ago, according to the latest report from apartmentlist.com. The 0.1% drop in September, compared to a 0.5% decrease nationwide.<\/p>\n
“We have officially entered the off-season for the rental market,” according to apartmentlist.com. “In September, rents nationwide fell by 0.5%, the second straight monthly decline. Assuming historical trends hold, prices should continue to dip for the rest of the calendar year.”<\/p>\n
Today the median rent in Kent is $1,416 for a one-bedroom unit and $1,749 for a two-bedroom unit. The median rent is the middle value of all the rents in a given area, meaning that half of the rents are above the median and half are below.<\/p>\n
The citywide apartment vacancy rate stands at 5.5%, up 0.3% from this time last year.<\/p>\n
Nine months into the year, rents in Kent have risen 1.4%. This is a faster rate of growth compared to what the city was experiencing at this point last year: from January to September 2023 rents had decreased 0.8%.<\/p>\n
If we expand the view to the wider Seattle metro area, the median rent is $2,010 meaning that the median price in Kent ($1,720) is 14.5% lower than the price across the metro area as a whole. Metro-wide annual rent growth stands at 1.1%, above the rate of rent growth within just the city.<\/p>\n
Sammamish is currently the most expensive in the Seattle metro area, with a median rent of $3,001. Lakewood is the metro’s most affordable city, with a median rent of $1,444. The metro’s fastest annual rent growth is occurring in Sammamish (6.7%) while the slowest is in Fife (minus 2.9%).<\/p>\n","protected":false},"excerpt":{"rendered":"
Median rent in Kent is $1,416 for a one-bedroom unit and $1,749 for a two-bedroom unit. <\/p>\n","protected":false},"author":212,"featured_media":70950,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,4],"tags":[],"yst_prominent_words":[],"class_list":["post-70949","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\/70949"}],"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=70949"}],"version-history":[{"count":0,"href":"https:\/\/www.kentreporter.com\/wp-json\/wp\/v2\/posts\/70949\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.kentreporter.com\/wp-json\/wp\/v2\/media\/70950"}],"wp:attachment":[{"href":"https:\/\/www.kentreporter.com\/wp-json\/wp\/v2\/media?parent=70949"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.kentreporter.com\/wp-json\/wp\/v2\/categories?post=70949"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.kentreporter.com\/wp-json\/wp\/v2\/tags?post=70949"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/www.kentreporter.com\/wp-json\/wp\/v2\/yst_prominent_words?post=70949"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}