SPOKANE, Wash. – According to a new report, Spokane rents have increased over the past month and are climbing in comparison to last year’s rates.
Apartment List wrote that Spokane rents have increased sharply by 0.6 percent over the past month and are up by 4.1 percent compared to last year. This is the second straight month of rent increases in the city.
The median rent in Spokane stands at $670 for a one-bedroom apartment and $890 for a two-bedroom, according to the site.
Regardless, Spokane is still more affordable than most large cities across the country. Spokane’s two-bedroom rent is below the national average of $1,170.
Compare Spokane’s median two-bedroom rent to a city like San Francisco, where the cost of living exceeds $3,000. This is nearly three-and-a-half times the two-bedroom rent in Spokane.
Rents have grown by 2 percent nationwide over the past year compared to the 4.1 percent rise in Spokane.
Rent increases are affecting all of Washington state. The 10 largest cities in Washington have seen a rise and the state logged growth of 3.2 percent over the past year.
Bellevue is the most expensive of Washington’s cities, with a median two-bedroom rent of $2,290. Federal Way has experienced the fastest rent growth at 6.6 percent.
Kent, Vancouver and Tacoma have also experienced yearly rent growth above the state average.
