Spokane rents soar in the last year

SPOKANE, Wash. — As we move deeper into the summer season, last month was, surprisingly, another month of stable rents for most of the biggest cities in the nation. Not here in Spokane, though.

Overall, the national price for a one bedroom apartment dropped slightly, by 0.1% to $1,208. The price rose slightly on two bedroom apartments by .3% to $1,446. On a year over year basis, both bedroom types are up around 3%.

In Spokane, one bedroom rent jumped 4.1% to $760, while two bedrooms had an even larger price increase, up 4.4% to $940.

The statistics come from the Zumper National Rent Report, with data from more than one million active listings across the United States.

Data is aggregated on a monthly basis to calculate median asking rents for the top 100 metro areas by population, providing a comprehensive view of the current state of the market.

COPYRIGHT 2023 BY KXLY. ALL RIGHTS RESERVED. THIS MATERIAL MAY NOT BE PUBLISHED, BROADCAST, REWRITTEN OR REDISTRIBUTED.