It was a wild 2022 rental market that saw both an extensive rent increase streak and a run of rent drops. So how did 2023 start? It all depends on where in the Puget Sound area you live.
Seattle proper saw continued declines, according to the most recent Apartment List data, but much of the region actually saw year-over-year gains. The Emerald City is still ranked 28th in terms of highest median rent among the top 100 largest metro areas in the country. So despite the downward trend of rents, Seattle’s still one of the most expensive places in the United States to be a renter. Go figure.
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