When Zumper released their National Rent Report for October, we saw Seattle pop back into the top ten after a brief absence. Last week we got a chance to see how median rent was spread out across the city. Now we get the November version of the report and Seattle has outpaced Miami to become the ninth-most expensive rental market in the nation.
The price of one bedroom units increased 1.1 percent to a median of $1,820, while two bedrooms jumped 4.1 percent to $2,510 overall.
The one-bedroom median rent is now up 6.4 percent from last year, the highest of any city in the top ten.
Seattle’s two-bedroom rise is in stark contrast to the national trend. It was one of only three cities in the top ten to see growth and the 4.1 percent was the highest among them. The yearly growth of 8.2 percent is also the highest of any city in the top ten.
Overall, Zumper’s National Rent Index fell for the third straight month, as one bedroom units fell 0.9 percent to a median of $1,126 and two bedrooms fell 0.5 percent to $1,344.
This is the part where we mention that 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 are seeing.