Study: Spokane rents have increased 20.4 percent in the past year
SPOKANE, Wash. — A new study from Apartment List shows Spokane ranks second in the nation for rent increases this year.
The data show that prices have increased 20.4 percent from May 2020 to May 2021. In the past month alone, rents have increased 6.5 percent.
According to Apartment List, median rents stand at $898 for a one-bedroom apartment and $1,235 for a two-bedroom, which is above the national average of $1,165.
Looking at trends nationwide, Spokane rent prices are in the same range as Phoenix, Atlanta and Dallas, while more expensive than Detroit.
Rents have actually decreased in some of the country’s largest cities, including San Francisco, New York and Washington D.C, though they are still more expensive than rent prices in Spokane.
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Read more about the study here.
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