All of that caffeine isn’t the thing keeping folks in Seattle up at night these days. It’s the rising rents. According to a recent article in The Seattle Times, the city of Seattle has seen the “sharpest rise in rent” among the most populated cites in the United States since 2010. Over the last three years, the gross median rent in the Emerald City increased by $113, or nearly 11 percent. In fact, Seattle was the only major city where rents jumped by more than $100 and by more than 10 percent from 2010 to 2013. As a result, the city has climbed to the number ten spot on the list of most expensive U.S. cities for renters.
Median Rent in Seattle Well Over $1K
The median amount paid by renters in Seattle reached just under $1,200 in 2013 and U.S. Census Bureau stats show that three out of five apartments in the city now rent for over $1,000 a month.
The top five most expensive cities for renters are San Jose, San Francisco, and San Diego, Calif., Washington D.C. and Boston, Mass. Rounding out the top nine are Honolulu, Hawaii, New York City, Virginia Beach, Va., and Los Angeles, Calif.
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