Rents jump for single-family homes in Seattle area, but fall for apartments
It's more expensive to rent a single-family home this year in the greater Seattle area than last, but the cost of renting an apartment is dropping. In April, the cost of renting a single-family home was up 4.3%. Meanwhile, apartment rents dropped 11%.
The median price of a single-family home in the greater Seattle area was $2,811 in March, according to a report by CoreLogic, making it the fourth-most expensive rental market among the areas surveyed. Rents for single-family homes in Honolulu were the most expensive at $3,050, followed by Los Angeles at $2,962 and San Diego at $2,956.
-snip-
Apartments aren't following the same trend. Apartment rents in Seattle in May averaged $1,895, according to a report by RentCafé. While that is a drop of 11%, Tacoma’s rents are up 7% year over year to an average of $1,458.
Rents dropped by 8% in Redmond, where the average apartment goes for $2,006. Following the Eastside trend, apartment rents dropped 6% in Kirkland and Bellevue, where they average $1,949 and $2,151, respectively.
https://www.bizjournals.com/seattle/news/2021/06/15/rent-prices-of-single-family-homes-up.html