Bellevue Rent Drops to Second Highest in Washington

Birdseye view of Downtown Bellevue

Online rental platform, Zumper, recently published a report that ranked Bellevue as the number two most expensive city in the Seattle Metro area. Bellevue has consistently ranked as the first most expensive city since July 2021, recently dropping to the second spot in December.

The price of a one-bedroom unit in Bellevue remained at a median of $2,020. Meanwhile, a two-bedroom unit fell 4.1% to $2,350. The Washington one-bedroom median rent was $1,426 as of December 2021.

Redmond ranked as the most expensive city with one-bedrooms priced at $2,050. When we last reported the rank of the 10 cities in August, Redmond came in as second most expensive, with one-bedroom rent costing $2,040. Seattle had the third highest rent, with a 1.7% drop to $1,730.

The least expensive Washington rents were as follows; Bellingham with one-bedrooms priced at $1,180, Everett with rent at $1,290, and Olympia, which ranked as the third least expensive with rent at $1,290.

The fastest growing rents by month were Renton, Lakewood and Tacoma. When measuring the fastest growing rent per year, the top three cities were Seattle, Kent, and Redmond.

The Seattle Metro Report covers 10 cities in the Seattle area to highlight the most and least expensive cities and cities with the fastest growing rents.

The Zumper Seattle Metro Area Report analyzed active listings that hit the market in December. Listings are aggregated by city to calculate median asking rents.

Source: Downtown Bellevue Network