Monthly rents topped $1,500 for the first time in downtown Seattle and Bellevue during the first quarter of this year, according to a new report from Tom Caine of Apartment Insights.
The Seattle-based company tracks apartment complexes with 50 or more units in King and Snohomish counties.
Downtown Seattle is the first Puget Sound area submarket where rents exceed $2 a square foot. The average monthly rent in downtown Seattle is $1,512, or $2.03 a square foot. In downtown Bellevue, the average monthly rent is $1,520, or $1.76 a square foot.
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