For both Seattle and Bellevue, the rent graph line saw movement this spring-summer. For the ‘new city’ of Bellevue, (so much of Bellevue’s downtown is sooo new-new-new!) rental rates stayed roughly the same during the past year, and then about March, started climbing up. For the most part, Bellevue rental rates are roughly about a hundred dollars higher than last summer…. except, that is, for the 2-bedroom units. That blue graph line is really popping up!
According to rentbits.com, almost ten times as many 2-bedroom rentals are available as 3-bedroom units. Paradoxically, renting a 3-bed rather than a 2-bed is cheaper in both Bellevue and Seattle… if, that is, you can find a 3-bed unit.
Across Lake Washington, Seattle’s rents seem to be about where they were last year. The median for all-sized units has gone up about $25 this year ($1270 Aug ’09 – $1295 July ’10), although, rents for 2 0r 3 bedroom units are down recently. Seattle is definitely the cheaper place to live: median rent is $1499 while Bellevue’s median is $1895/month.
And, please note, this info is only as of August 1, 2010. It’s an ever-changing rent-scape, so check the referenced site periodically if you follow rental prices.