132 Luxury Apartments for rent in Redmond, WA

Last updated July 17 at 8:49pm UTC
6722 238th Ave NE 1
Union Hill-Novelty Hill
Redmond, WA
Updated July 17 at 9:27am UTC
4 Bedrooms
$3,295
7114 138th PL NE
Grass Lawn
Redmond, WA
Updated July 17 at 9:23am UTC
5 Bedrooms
$3,400
10374 157th Place NE #104
Education Hill
Redmond, WA
Updated July 17 at 9:23am UTC
3 Bedrooms
$3,000
10402 170th Avenue Northeast
Education Hill
Redmond, WA
Updated July 16 at 11:39am UTC
3 Bedrooms
$2,500
8428 230th Way NE
Union Hill-Novelty Hill
Redmond, WA
Updated July 10 at 9:48am UTC
3 Bedrooms
$2,895
6226 148th Ave NE
Grass Lawn
Redmond, WA
Updated July 11 at 9:47am UTC
5 Bedrooms
$6,000

July 2018 Redmond Rent Report

Welcome to the July 2018 Redmond Rent Report. Redmond rents increased over the past month. In this report, we'll evaluate trends in the Redmond rental market, including comparisons to cities throughout the metro, state, and nation.

View full Redmond Rent Report
Rent Report
Redmond

July 2018 Redmond Rent Report

Welcome to the July 2018 Redmond Rent Report. Redmond rents increased over the past month. In this report, we'll evaluate trends in the Redmond rental market, including comparisons to cities throughout the metro, state, and nation.

Redmond rents increase sharply over the past month

Redmond rents have increased 1.0% over the past month, but have decreased moderately by 1.6% in comparison to the same time last year. Currently, median rents in Redmond stand at $1,840 for a one-bedroom apartment and $2,290 for a two-bedroom. This is the sixth straight month that the city has seen rent increases after a decline in December of last year. Redmond's year-over-year rent growth lags the state average of 0.9%, as well as the national average of 1.4%.

Rents rising across the Seattle Metro

While rent prices have decreased in Redmond over the past year, the rest of the metro is seeing the opposite trend. Rents have risen in 9 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.

  • Federal Way has seen the fastest rent growth in the metro, with a year-over-year increase of 7.0%. The median two-bedroom there costs $1,730, while one-bedrooms go for $1,390.
  • Over the past year, Seattle proper is the only city in the metro that has seen rents fall, with a decline of 2.0%. Median two-bedrooms there cost $1,650, while one-bedrooms go for $1,320.
  • Lakewood has the least expensive rents in the Seattle metro, with a two-bedroom median of $1,430; rents grew 0.6% over the past month and 5.1% over the past year.
  • Bellevue has the most expensive rents of the largest cities in the Seattle metro, with a two-bedroom median of $2,330; rents were up 0.5% over the past month but remained flat year-over-year.

Many large cities nationwide show more affordable rents compared to Redmond

As rents have fallen moderately in Redmond, many large cities nationwide have seen prices increase, in some cases substantially. Compared to most large cities across the country, Redmond is less affordable for renters.

  • Other cities across the state have seen rents slightly increase, with Washington as a whole logging rent growth of 0.9% over the past year. For example, rents have grown by 3.1% in Vancouver and 0.7% in Spokane.
  • Redmond's median two-bedroom rent of $2,290 is above the national average of $1,180. Nationwide, rents have grown by 1.4% over the past year compared to the 1.6% decline in Redmond.
  • While rents in Redmond fell moderately over the past year, many cities nationwide saw increases, including Phoenix (+2.3%), New York (+1.7%), and Los Angeles (+1.6%).
  • Renters will generally find more expensive prices in Redmond than most large cities. For example, Spokane has a median 2BR rent of $870, where Redmond is more than two-and-a-half times 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.
City Median 1BR price Median 2BR price M/M price change Y/Y price change
Seattle $1,320 $1,650 0.1% -2.0%
Tacoma $1,240 $1,540 -0.1% 2.0%
Bellevue $1,870 $2,330 0.5% 0.1%
Everett $1,350 $1,680 1.3% 3.1%
Kent $1,460 $1,820 0.9% 3.8%
Renton $1,650 $2,060 0.7% 2.0%
Federal Way $1,390 $1,730 0.3% 7.0%
Auburn $1,330 $1,660 -0.2% 2.7%
Marysville $1,370 $1,710 0.0% 1.7%
Lakewood $1,150 $1,430 0.6% 5.1%
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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.