108 1 Bedroom Apartments for rent in Everett, WA
July 2020 Everett Rent Report
Welcome to the July 2020 Everett Rent Report. Everett rents remained steady over the past month. In this report, we'll evaluate trends in the Everett rental market, including comparisons to cities throughout the metro, state, and nation.
July 2020 Everett Rent Report
Welcome to the July 2020 Everett Rent Report. Everett rents remained steady over the past month. In this report, we'll evaluate trends in the Everett rental market, including comparisons to cities throughout the metro, state, and nation.
Everett rent trends were flat over the past month
Over the past month Everett rents have remained steady. Currently, median rents in Everett stand at $1,384 for a one-bedroom apartment and $1,724 for a two-bedroom. Everett's year-over-year rent growth lags the state average of 0.5%, but is in line with the national average of 0.2%.
Rents rising across the Seattle Metro
While rents have remained steady in the city of Everett throughout the past year, cities across the metro have seen a different trend. Rents have risen in 9 of of the largest 10 cities in the Seattle metro for which we have data. Here's a look at how rents compare across some of the largest cities in the metro.
- Lakewood has the least expensive rents in the Seattle metro, with a two-bedroom median of $1,507; the city has also experienced the fastest rent growth in the metro, with a year-over-year increase of 2.0%.
- Bellevue has seen rents fall by 0.8% over the past month, the biggest drop in the metro. It's also the most expensive city in the Seattle metro with a two-bedroom median of $2,402.
Many large cities nationwide show more affordable rents compared to Everett
Rent growth in Everett has been relatively stable over the past year - some other large cities have seen more substantial increases; in contrast, rents in a few cities have actually declined. Compared to most large cities across the country, Everett is less affordable for renters.
- Although rents across cities in Washington have been slightly on the rise, the state's growth as a whole has held steady over the past year. For example, rents have grown by 2.3% in Spokane and 0.3% in Vancouver.
- Everett's median two-bedroom rent of $1,724 is above the national average of $1,192. Nationwide, rents have held steady over the past year.
- While rents in Everett remained moderately stable this year, similar cities saw increases, including Phoenix (+1.9%), Austin (+-0.1%), Los Angeles (+-0.5%); note that median 2BR rents in these cities go for $1,102, $1,452, and $1,747 respectively.
- Renters will generally find more expensive prices in Everett than most large cities. For example, Spokane has a median 2BR rent of $906, where Everett is nearly twice that price.
For more information check out our national report. You can also access our full data for cities and counties across the U.S. at this link.
Methodology - Recent Updates:
Data from private listing sites, including our own, tends to skew toward luxury apartments, which introduces sample bias when estimates are calculated directly from these listings. To address these limitations, we’ve recently made major updates to our methodology, which we believe have greatly improved the accuracy and reliability of our estimates.
Read more about our new methodology below, or see a more detailed post here.
Methodology:
Apartment List is committed to making our rent estimates the best and most accurate available. To do this, we start with reliable median rent statistics from the Census Bureau, then extrapolate them forward to the current month using a growth rate calculated from our listing data. In doing so, we use a same-unit analysis similar to Case-Shiller’s approach, comparing only units that are available across both time periods to provide an accurate picture of rent growth in cities across the country.
Our approach corrects for the sample bias inherent in other private sources, producing results that are much closer to statistics published by the Census Bureau and HUD. Our methodology also allows us to construct a picture of rent growth over an extended period of time, with estimates that are updated each month.
Read more about our methodology here.
About Rent Reports:
Apartment List publishes monthly reports on rental trends for hundreds of cities across the U.S. We intend these reports to be a source of reliable information that help renters and policymakers make sound decisions, and we invest significant time and effort in gathering and analyzing rent data. Our work is covered regularly by journalists across the country.
We are continuously working to improve our methodology and data, with the goal of providing renters with the information that they need to make the best decisions.