Apartment hunting website RENTCafe.com has released its most recent Apartment Market Report, detailing fast-paced rent growth in a couple of South Sound communities.
Rents, nationally, are cooling off on a national level; the average rent went up only 0.1 percent — or $1 — since July, according to RENTCafe’s numbers. The picture that emerges when looking at individual cities is markedly different, with 209 of the 250 cities examined by the site seeing rent increases.
One of those cities is Tacoma, which has seen an 8.4 percent year-over-year increase in rents. Renters there pay an average of $1,051 a month, some $90 more than last year.
That puts Tacoma ninth among cities in the country with the fastest growing rents in July, the last month of RENTCafe’s study. That places Tacoma second among Washington cities; the only state city with faster growing rent, curiously, is Kent, another South Sound community. Kent is sixth in the country in year-over-year change, with a 9.0 percent increase in rent to $1,411.
That’s a bump of $117, good for sixth in the country and second in Washington after Seattle. Tacoma, again, isn’t far behind. Its $90 increase is 25th in the country and fourth in the state.