For the sixth-straight month, Seattle is 10th on Zumper's National Rent Report for major U.S. cities in terms of most expensive median rents. That said, the 1-BR median rent has actually come down significantly, from $1,640 in April to $1,550 in July. Two-bedroom median rent also dropped 4.7 percent from the previous month to $2,040.
This month, Zumper also did a breakdown of Seattle neighborhood median 1-BR rents. Though their list is missing some notable North Seattle neighborhoods like Ballard, Ravenna and Green Lake, we still get an interesting look at what's going on locally. Using their list, the Central Business District/Downtown ($2,190), Belltown ($1,950), and Pike Place ($1,895) jump out at the most expensive rental spots in town. Zumper is seeing more affordable hotspots in Magnolia's Lawton Park ($1,060), Columbia City ($1,115) and North Beacon Hill ($1,225).
Expanded to include all cities, Bellevue has officially taken it's place among the most expensive places to rent in the U.S. They check in 11th in the nation with a median 1-BR rent of $2,240. Redmond also beats out Seattle with a $1,650 median 1-BR rent.
As we always like to point out, Zumper's data is drawn solely from the asking rents for the listings on its site, not all available rentals in Seattle and surrounding cities. Therefore, it isn't a measure of what all Puget Sounders are paying, but it does offer one look at prices that prospective renters in the market during July were seeing.
· Zumper National Rent Report: July 2015 [Zumper]
· Seattle's Cheapest And Most Expensive Neighborhoods To Rent This Summer [Zumper]
· Seattle Stays Put as 10th Most Expensive U.S. City to Rent [CS]