Report: Rents rising slower in Seattle

Report: Rents rising slower in Seattle

A new report released Friday morning shows Seattle saw a big drop in how much rent is going up, but the price of rent overall nationwide is rising.

But supply in Seattle may be catching up, as numbers from HotPads (part of Zillow Group) suggest rent appreciation is slowing.

The median rent in Seattle is $2,225, up 4.3 percent from last year.

Content Continues Below

For a one-bedroom apartment, the median is $1,760 - up 3.1 percent.

HotPads (part of Zillow Group) points out the caveat with the numbers is the appreciation has slowed down.

Some apartment managers are offering more free concessions, such as a month of free rent as apartments are sitting empty.

HotPads (part of Zillow Group) says rent appreciation is happening at the 4.3 percent level compared to 7.7 percent in Seattle a year ago.

For the consumer, that means the market and their choices may be widening.