54 Luxury Apartments for rent in Redmond, WA

Last updated November 19 at 8:11am UTC
Gates of Redmond
15325 Redmond Way
Redmond, WA
Updated November 19 at 2:23am UTC
Studio
$1,525
1 Bedroom
$1,695
2 Bedrooms
$2,070
16143 NE 90th Way
Downtown Redmond
Redmond, WA
Updated November 17 at 2:33am UTC
2 Bedrooms
$2,600
16103 NE 95th Court
Education Hill
Redmond, WA
Updated November 17 at 11:09am UTC
4 Bedrooms
$3,125
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November 2017 Redmond Rent Report

Welcome to the November 2017 Redmond Rent Report. Redmond rents declined 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

November 2017 Redmond Rent Report

Welcome to the November 2017 Redmond Rent Report. Redmond rents declined 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 declined over the past month

Redmond rents have declined 3.2% over the past month, but have been relatively flat at 0.3% in comparison to the same time last year. Currently, median rents in Redmond stand at $1,740 for a one-bedroom apartment and $2,170 for a two-bedroom. This is the third straight month that the city has seen rent decreases after an increase in July. Redmond's year-over-year rent growth lags the state average of 4.5%, as well as the national average of 2.7%.

Rents rising across the Seattle Metro

While rents have remained steady in the city of Redmond throughout the past year, cities across the metro have seen a different trend. Rents have risen in all 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.

  • Puyallup has seen the fastest rent growth in the metro, with a year-over-year increase of 14.3%. The median two-bedroom there costs $1,860, while one-bedrooms go for $1,490.
  • Over the past month, Redmond has seen the biggest rent drop in the metro, with a decline of 3.2%. Median two-bedrooms there cost $2,170, while one-bedrooms go for $1,740.
  • Tacoma has the least expensive rents in the Seattle metro, with a two-bedroom median of $1,530; rents went down 0.2% over the past month but rose 5.3% over the past year.
  • Bellevue has the most expensive rents of the largest cities in the Seattle metro, with a two-bedroom median of $2,290; rents fell 1.5% over the past month but rose 3.4% over the past year.

Many large cities nationwide show more affordable rents compared to Redmond

Rent growth in Redmond 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, Redmond is less affordable for renters.

  • Other cities across the state have seen rents significantly increase, with Washington as a whole logging rent growth of 4.5% over the past year. For example, rents have grown by 6.8% in Vancouver and 4.7% in Spokane.
  • Redmond's median two-bedroom rent of $2,170 is above the national average of $1,160. Nationwide, rents have grown by 2.7% over the past year compared to the stagnant growth in Redmond.
  • While rents in Redmond remained moderately stable this year, similar cities saw increases, including Phoenix (+4.1%), Los Angeles (+3.9%), and Denver (+2.0%); note that median 2BR rents in these cities go for $1,020, $1,730, and $1,330 respectively.
  • Renters will generally find more expensive prices in Redmond than most large cities. For example, Spokane has a median 2BR rent of $880, where Redmond is nearly 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 $1,350 $1,690 -0.9% 4.2%
Tacoma $1,230 $1,530 -0.2% 5.3%
Bellevue $1,840 $2,290 -1.5% 3.4%
Everett $1,300 $1,620 -0.3% 3.0%
Kent $1,390 $1,740 -0.5% 6.7%
Renton $1,630 $2,030 -1.0% 7.6%
Federal Way $1,370 $1,700 -0.6% 6.3%
Redmond $1,740 $2,170 -3.2% 0.3%
Kirkland $1,620 $2,020 -1.1% 0.0%
Puyallup $1,490 $1,860 1.8% 14.3%
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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.