Rents Dip in Some Expensive Cities

A building boom in cities like Seattle has slowed rising rents, but experts don't see this as a lasting trend.

1 minute read

March 20, 2018, 11:00 AM PDT

By Casey Brazeal @northandclark


Seattle

Checubus / Shutterstock

In many downtown neighborhoods in Seattle, rents have gone up 50% over the last five years, but this year that trend has changed, Alan Greenblatt reports for Governing. "Rents are going down fastest in the neighborhoods in and around downtown, which have been the most in-demand and, consequently, have seen the most recent construction," Greenblatt writes. Other cities that have seen rents fall include: New York, Portland, and Washington, D.C.

As with all changes in rents, the numbers vary by neighborhood and type of home. "In the major cities, the vast majority of apartments being built are designed to serve luxury or at least high-end markets. There’s very little in the way of new housing that’s considered affordable," Greenblatt writes. Experts predict the building trend that pushed these rents down will slow, so the relief for renters may end up being short-lived.

Friday, March 16, 2018 in Governing

portrait of professional woman

I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching. Mary G., Urban Planner

I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching.

Mary G., Urban Planner

Cover CM Credits, Earn Certificates, Push Your Career Forward

Aerial view of town of Wailuku in Maui, Hawaii with mountains in background against cloudy sunset sky.

Maui's Vacation Rental Debate Turns Ugly

Verbal attacks, misinformation campaigns and fistfights plague a high-stakes debate to convert thousands of vacation rentals into long-term housing.

July 1, 2025 - Honolulu Civil Beat

Logo for Planetizen Federal Action Tracker with black and white image of U.S. Capitol with water ripple overlay.

Planetizen Federal Action Tracker

A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.

July 2, 2025 - Diana Ionescu

White and purple sign for Slow Street in San Francisco, California with people crossing crosswalk.

San Francisco Suspends Traffic Calming Amidst Record Deaths

Citing “a challenging fiscal landscape,” the city will cease the program on the heels of 42 traffic deaths, including 24 pedestrians.

July 1, 2025 - KQED

Google street view image of strip mall in suburban Duncanville, Texas.

Adaptive Reuse Will Create Housing in a Suburban Texas Strip Mall

A developer is reimagining a strip mall property as a mixed-use complex with housing and retail.

July 6 - Parking Reform Network

Blue tarps covering tents set up by unhoused people along chain link fence on concrete sidewalk.

Study: Anti-Homelessness Laws Don’t Work

Research shows that punitive measures that criminalized unhoused people don’t help reduce homelessness.

July 6 - Next City

Aerial tram moving along cable in hilly area in Medellin, Colombia.

In U.S., Urban Gondolas Face Uphill Battle

Cities in Latin America and Europe have embraced aerial transitways — AKA gondolas — as sustainable, convenient urban transport, especially in tricky geographies. American cities have yet to catch up.

July 6 - InTransition Magazine