Census: Seattle Quickly Ascending the Ranks of Most Expensive Cities to Rent
The Seattle Times analyses the shifting national rent landscape, focusing especially on Seattle's ascent up the list of cities with the most expensive rent. Gene Balk writes:
New numbers from the U.S. Census Bureau shows that is Seattle is — for the first time — among the five most-expensive big cities for renters. The median amount paid by Seattle renters reached $1,448 last year, an increase of $92 from 2015.
Balk notes that Seattle broke the top ten of most expensive cities for renters only three years ago, in 2014. "Since then, Seattle has climbed its way past Los Angeles, Virginia Beach, Honolulu, and even New York City, which we toppled in 2015," writes Balk.
The report comes with an important disclaimer: Census Burea calculates this media rent from data collected in a survey, revealing the price renters pay, not the asking price of rental units on the market. So it makes sense that San Francisco's media rent actually seems low at $1,784. As Balk writes: "good luck trying to find a place for that amount in the City by the Bay."
At the top of the most expensive cities for renters: 1) San Jose, 2) San Francisco, 3) San Diego, 4) Boston, and 5) San Diego. Balk also provides lists for the lowest median rent and the biggest net increases.