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Seattle's Average Rent Has Climbed To $1,441/Month

You know those high rents you've been paying in the Seattle area? They're getting even higher. According to Apartment Insights Washington, Seattle rents jumped 4.1% to a $1,441/month average in the second quarter of 2014. For perspective, average rent in Seattle in 2010 was $1,108/month.

The neighborhood with the biggest rent increase? Ballard, which rose 12.3% to $1,628/month. That begs the question...what's the point of adding all those new condos if they're all jacking up the price anyway? No wonder there's an 18% apartment vacancy rate there.

Not that you weren't already but be thankful you're in Seattle and not Bellevue, where demand has driven average rent up to $1,654/month. Looking for a cheap place to rent? Try Kent ($848/month), SeaTac ($901) or Des Moines ($923).
· Seattle-area apartment rents climb to average $1,284 a month [Seattle Times]
· Seattle's apartment market called 'remarkable' [PSBJ]