Seattle Neighborhoods Where Rent Prices are Increasing the Most

While it’s known for unique visual scenery and iconic landmarks, such as Pike Place Market and the Space Needle, there are many other reasons why Seattle continues to draw residents who are attracted to its nationally ranked sports teams, diverse cultural institutions, pioneering coffee scene and active outdoor lifestyle. In fact, Seattle is currently the third-largest U.S. city with the fastest rate of economic and population growth, based on a 2019 WalletHub report.

With industry giants like Amazon and Microsoft headquartered in this city, it’s no stretch to understand why Seattle is a trendy place to live — and why there’s been an uptick in rent prices.

Here’s a glimpse into five desirable areas where the rent continues to rise which has made them increasingly expensive.

5. South Lake Union

south lake union seattle

  • Price increase over the past year: 17.15 percent
  • Average rent for one-bedroom in South Lake Union: $2,547.47

This hip Seattle neighborhood is bustling with hipster coffee shops, busy bars and delicious food trucks. Making South Lake Union even more appealing is Lake Union Park, where you can read a book, do yoga, or check out the Museum of History and Industry for a day of learning. No wonder rent is increasing—this is a hub for active young professionals.

Fun Fact: Near the end of 2007, Amazon relocated its headquarters from Beacon Hill to a campus in South Lake Union, which the online retailer acquired for $1 billion. Due to Amazon’s construction and revitalization of this area, the locals now refer to South Lake Union as “Amazonia.”

4. Delridge

delridge seattle

  • Price increase over the past year: 17.95 percent
  • Average rent for one-bedroom in Delridge: $1,916.77

Most residents of Delridge own their own houses, according to Niche.com, which means it may not be as rent-friendly as some other neighborhoods in the area. However, if you’re looking for a mix of urban and suburban, it might be worth paying extra to make this liberal neighborhood your home.

Fun Fact: Today, the Delridge area is mostly residential with loosely defined zones and a large open space greenbelt. But it used to be known as “Little Pittsburgh” because of its industrial origins and the factories, all of which can still be seen along the banks of the Duwamish River.

3. Central District

central district seattle

  • Price increase over the past year: 19.19 percent
  • Average rent for one-bedroom in Central District: $2,401.09

The Central District is overflowing with culture and history. If you choose to live in this Seattle neighborhood, you may find yourself at the Northwest African American Museum. You’ll also need season’s passes to Langston Hughes Performing Arts Institute, a hub for artistic shows, including movies, musicals and plays.

Fun Fact: A number of iconic musicians and actors who revolutionized pop culture were originally from the Central District of Seattle including Quincy Jones, Sir Mix-a-Lot, Bruce Lee and Jimi Hendrix. There’s even a two-acre park in this neighborhood named in honor of Hendrix’s legacy.

2. Northgate

northgate seattle

  • Price increase over the past year: 24.66 percent
  • Average rent for one-bedroom in Northgate: $1,818.65

The famous Northgate Mall may be the reason for increasing rent prices in this northern Seattle neighborhood. “The region around the mall obviously sees the most action, and with the addition of the new condo complex and movie theaters, the area has even more appeal to potential residents,” explains regional experts at FindWell.

However, you’ll find the experience differs from one pocket of Northgate to another, with students and families each claiming their own areas.

Fun Fact: This district is named after the famous Northgate Mall, which was built in 1950 as one of the nation’s first post-World War II retail complexes. It was also the first enclosed shopping center in America to be considered a mall, and it remains a commercial hub for Seattleites today.

1. Greenwood

greenwood seattle

  • Price increase over the past year: 25.57 percent
  • Average rent for one-bedroom in Greenwood: $2,021.60

Old school and new school meet in Greenwood, a neighborhood speckled with yoga studios, coffee shops, hair salons and boutique shops. According to Seattle Magazine, you’ll also find plenty of craft galleries, where you can purchase unique gifts or test your own skills.

This pricey neighborhood has a little bit of everything, making it a growing region of Seattle.

Fun Fact: As home of the annual historic Greenwood Seafair Parade, which takes place each year in July, thousands of Seattle locals converge in this district to celebrate a summer citywide tradition called the Seafair Festival, which has taken place since 1949.

Methodology

We looked at all neighborhoods in Seattle with sufficient available inventory on Apartment Guide and Rent.com, then compared the average price from October 2018 to October 2019 in order to find the neighborhoods with the highest percentage increase in one-bedroom apartment prices.

The current rent information included in this article is based on multifamily rental property inventory on Apartment Guide and Rent.com and is used for illustrative purposes only. The data contained herein do not constitute financial advice or a pricing guarantee for any apartment.

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Jessica ThiefelsJessica Thiefels is founder and CEO of Jessica Thiefels Consulting and has been writing for more than 10 years. She's been featured in top publications like Forbes and has contributed to Lifehack, Reader's Digest, AARP and more. Follow her on Twitter @JThiefels and connect on LinkedIn.

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