Report: Rents are beginning to rebound in Seattle, increasing for second consecutive month
People looking to save money on an apartment might want to act soon: after falling for months in 2020 amid the economic downturn of the COVID-19 pandemic, rent prices in Seattle are on the rise for the second month in a row.
A new report from Apartment List found that rents in the Emerald City have increased 2.2% over the past month, but are still down 18.5% in comparison to the same time last year.
It's the second consecutive month that Seattle saw its rent prices go up, with rents increasing 2% in February. Median rent in the city currently stands at $1,397 for a one-bedroom apartment and $1,742 for a two-bedroom apartment.
The data reflects a nationwide trend of rental prices beginning to rebound after pandemic lows. Nationally in March, rents went up by about 1.1%, representing the "the largest monthly increase going back to the beginning of 2017" according to Apartment List.
https://www.msn.com/en-us/money/realestate/report-rents-are-beginning-to-rebound-in-seattle-increasing-for-second-consecutive-month/ar-BB1f8ABu?ocid=hplocalnews
