NATIONAL — Rent costs have increased dramatically in most American cities, including here in Washington.
The online leading marketplace, LendingTree, released a study that reviewed the fair market rent in 50 large metro areas.
They studied the rents of one-bedroom and two-bedroom apartments from 2021 to 2026.
The data was collected from the U.S. Department of Housing and Urban Development, which gathers information on Fair Market Rent.
The studies found that rent went up by $457 for a one-bedroom apartment.
It found that rents rose by $505 for two-bedroom apartments.
They then ranked the cities by how much apartment unit cost had increased.
Seattle ranked 11th for one-bedroom and two-bedroom apartments.
One-bedroom apartments saw an increase of about 34%, or $547, from $1,599 to $2,146.
Two-bedroom apartments rose by about 31% with an increase of $595 per month, from $1,906 to $2,501.
New York topped the list of the highest increase in one-bedroom apartments, from $1,801 to $2,655.
Miami, Florida, saw the highest increase in two-bedroom units, with rents rising from $1,551 to $2,436.
San Fransico was at the bottom of the list of one-bedroom and two-bedroom apartments.
One-bedroom prices increased from $2,923 to $2,977, while two-bedroom prices increased from $3,553 to $3,604.