Bellevue is the most expensive place in the region to rent an apartment, according to a new analysis. Courtesy photo

Bellevue is the most expensive place in the region to rent an apartment, according to a new analysis. Courtesy photo

King County cities are among most expensive to rent in Northwest

Bellevue has highest apartment rents; Renton, Kent and Federal Way all saw increases in 2019.

Bellevue is the most expensive place in the Puget Sound region to rent an apartment, according to a new analysis, but several other Eastside ZIP codes got honorable mentions.

The analysis was conducted by RentCafe and looked at rent charged in apartment buildings with more than 50 units across the country during the first two quarters of 2019. Bellevue’s 98004 ZIP code was the most expensive in both Washington and Oregon, with the average monthly apartment rent sitting just under $2,850 a month. The area includes downtown Bellevue as well as the wealthy Hunts Point and Beaux Arts Village areas.

Seattle ZIP codes codes filled in the next three spots, including the neighborhoods of Belltown, Lower and East Queen Anne, and South Lake Union. Average rents ranged from between roughly $2,520 to $2,835 each month.

Redmond and Issaquah were also on the list and notable for having areas where rent has been growing the fastest. Redmond saw its average rent swell year-over-year by 5%, leading to an average monthly rent of $2,229. Issaquah’s 98027 ZIP code, which includes nearly the whole city excluding the Highlands, had an average rent of $2,445, marking a 6.2% increase over last year. The 98027 ZIP code also includes areas surrounding Tiger Mountain State Forest, including Mirrormont to the south and Preston to the east.

This Issaquah Highlands and Klahanie neighborhoods also saw significant year-over-year rental increases of 4.4%, bringing rents up to $2,445.

While rents on Mercer Island remained high at $2,242, it saw a modest increase in cost with rents rising by half a percentage point.

Nationwide, the New York City borough of Manhattan had the highest rents, clocking in at more than $6,200 each month.

When factoring in all housing costs, Bellevue got even more expensive. According to Zillow’s monthly charts, the average rent for all housing types in the city was $2,950 in August. For Redmond, rents were $2,800 on average, followed by $2,795 in Issaquah. However, these were dwarfed by the $3,650 monthly average for rent for all housing types on Mercer Island.

Nationwide, housing inventory may have finally hit a floor, according to a June analysis from Zillow. Housing stock had been dropping since late 2014, when there were more than 2 million units for sale in later months. This has more or less steadily declined until late last year when it reached around 1.55 million units. It has fluctuated since then, but in June there were more than 1.58 million units available.

The West Coast inventory has been on the rise since early 2018. In Seattle, there were 12,267 units for sale and 8,011 in San Francisco. Over the previous two years, there has been more than a 40 percent increase in listings in Bellevue, and a more than 30 percent increase in Kirkland. However, while rent increases have leveled out in Bellevue and Seattle, South King County cities like Renton, Kent and Federal Way all saw increases in 2019.

More in News

Scam alert: Frauds care claiming to be the Medical Commission

The Washington Medical Commission (WMC) has been alerted that scam artists are… Continue reading

Sound Transit seeks feedback on Sounder South expansion

Longer trains, adding trips under consideration on Seattle to Lakewood route

Unleash the Brilliance Parent Summit comes to Auburn High School on Feb. 8

The Unleash the Brilliance (UTB) program – committed to closing the achievement… Continue reading

Expect lane closures along Auburn Way South | UPDATES

On Thursday, Jan. 30, utility work by National Plant Services for the… Continue reading

Miss Auburn, Miss Auburn’s Outstanding Teen tiaras up for grabs Saturday

Seven contestants compete for the crown of Miss Auburn, and 13 vie… Continue reading

Tribute to Beauty and Duty comes to Neely Mansion

Community celebrates two anniversaries on Saturday

Volunteers making the Green River more salmon-friendly at Fenster Park

Green River Coalition student intern: ‘It’s about leaving a legacy, something to show the kids 20 years from now. Any day in the soil is a good day for me’

If passed, Senate Bill 6254 would limit the nicotine concentration of vape products, ban certain flavoring chemicals and require vape manufacturers, distributors and retailers to obtain licenses from the Washington State Liquor and Cannabis Board. File photo
Lawmakers propose sweeping regulations for vaping industry

Bill supporters cite concerns over health issues and teen use.

Irwin introduces legislation to create database system relating to concussion rates in high school sports

Rep. Morgan Irwin has introduced legislation to create a centralized database system… Continue reading

Most Read