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Seattle rents rise in July but still not as high as Bellevue

Seattle’s median rent continued to rise but it still can’t catch it’s Eastside neighbor

Apartment List is back with their monthly rent report for August and the numbers continue to move in a familiar direction: upward.

As was the case last month, Seattle’s median rent continued to rise, though this time it was 0.8 percent instead of 0.9 percent for the slightest of slowdowns. Per Apartment List, a one-bedroom in Seattle has a median rent price of $1,770, while two-bedrooms will cost you $2,300. Those numbers are similar to what we saw from Zumper.

Within Seattle, they’re seeing three neighborhoods where two-bedroom median rent has crossed the $3K mark. South Lake Union ($3,030), Belltown/Denny Triangle ($3,200) and Downtown ($3,390).

Still, Seattle’s got nothing on Bellevue. The Eastside neighbor is seeing one-bedroom median rents at $2,080 and two-bedroom rents at $2,550. That’s actually down 1.6 percent from the previous month but still 5.6 percent higher than this time last year.

When it comes to median rent growth, however, neither city can keep up with Lynnwood. While a one-bedroom median rent of $1,150 doesn’t sound like much compared to Seattle and Bellevue, the city has seen 10.6 percent yearly growth on rental prices, the highest in the region. Renton shows the second largest rent growth, with an increase of 9.1 percent over the past year.