Seattle Rent Affordability Gap Widens, Salaries Lag
Current Seattle Rent Trends and Projections Seattle's rental market is both pivotal and precarious amid ongoing economic shifts. As of March 2025, the city's median rent has reached $2,026. This places Seattle as the 16th most expensive city for rent among large U.S. cities. Rental prices have seen a steady climb, with a 1.9% increase compared to the previous year. This growth surpasses both state and national trends. In the broader context, Seattle rents outpace Washington state average (1.7%) and national trend (-0.4%). The city has seen a notable decrease in rental supply attributed to slowed multifamily construction, mirroring the projected 10% decline from previous years, which is tightening the overall rental market . Looking ahead, forecasts suggest a continued rise in rents, with a projected 2.7% annual increase by the end of 2025. This could bring the average rent to around $2,073 by year-end. Despite new unit completions in downtown areas, occupancy rates are expecte...