197 1 Bedroom Apartments for rent in Vancouver, WA
June 2020 Vancouver Rent Report
Welcome to the June 2020 Vancouver Rent Report. Vancouver rents declined over the past month. In this report, we'll evaluate trends in the Vancouver rental market, including comparisons to cities throughout the metro, state, and nation.
June 2020 Vancouver Rent Report
Welcome to the June 2020 Vancouver Rent Report. Vancouver rents declined over the past month. In this report, we'll evaluate trends in the Vancouver rental market, including comparisons to cities throughout the metro, state, and nation.
Vancouver rents held steady over the past month
Vancouver rents have remained flat over the past month, however, they are up marginally by 0.7% year-over-year. Currently, median rents in Vancouver stand at $1,422 for a one-bedroom apartment and $1,678 for a two-bedroom. Vancouver's year-over-year rent growth lags the state average of 1.1%, as well as the national average of 0.8%.
Rent trends vary across the Portland Metro
While rents prices have increased in Vancouver over the past year, trends across the rest of the metro have varied. Of the largest 10 cities that we have data for in the Portland metro, some have seen decreases while other cities have rents increasing. Here's a look at how rents compare across some of the largest cities in the metro.
- Over the past year, Tualatin has seen the biggest rent drop in the metro, with a decline of 3.0%. Median two-bedrooms there cost $1,892, while one-bedrooms go for $1,604.
- Forest Grove has seen the fastest rent growth in the metro, with a year-over-year increase of 2.3%. The median two-bedroom there costs $1,452, while one-bedrooms go for $1,231.
- Hillsboro has the most expensive rents of the largest cities in the Portland metro, with a two-bedroom median of $2,062; rents decreased 0.9% over the past month and 1.3% over the past year.
- Portland proper has the least expensive rents in the Portland metro, with a two-bedroom median of $1,322; rents went down 0.2% over the past month and 0.4% over the past year.
Many large cities nationwide show more affordable rents compared to Vancouver
As rents have increased marginally in Vancouver, other large cities nationwide have seen rents grow more quickly. Compared to most large cities across the country, Vancouver is less affordable for renters.
- Rents increased slightly in other cities across the state, with Washington as a whole logging rent growth of 1.1% over the past year. For example, rents have grown by 1.6% in Spokane and 1.2% in Seattle.
- Vancouver's median two-bedroom rent of $1,678 is above the national average of $1,194. Nationwide, rents have grown by 0.8% over the past year compared to the 0.7% rise in Vancouver.
- While Vancouver's rents rose marginally over the past year, many cities nationwide saw decreases, including San Francisco (-1.0%), Denver (-0.4%), and Boston (-0.4%).
- Renters will generally find more expensive prices in Vancouver than most large cities. For example, Spokane has a median 2BR rent of $904, where Vancouver is more than one-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.
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.