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Believe it or not, rents are down in Washington state

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Washington state experienced the largest drop in rental prices over the past year in the United States.

According to's August report, Washington state saw a 7.72% decrease in rents from July 2022 through July 2023.

Focusing just on the Seattle-Tacoma-Bellevue region, rents have gone down by 10.75% during that same time.'s data shows Seattle's current median rent at $2,833. This accounts for all bedroom types across the rental market.

RELATED: $142K salary needed to afford a 'starter' home in Seattle

While many states have experienced rents on the rise, those that have seen declining prices are mostly in the West. Oregon rent went down 5.66%, and Idaho's went down 2.48%.

It's important to note that rental prices go up and down over time.’s own data shows that national rents peaked in summer 2022 with $2,053 national median rent. The current national median is $2,038. After that, rents declined until February 2023, and have been rising nationally ever since.

RELATED: Inflation got a little higher in July as prices for rent and gas spiked

Also according to “Over two years, the cost of renting has increased by 14%, representing annualized growth of nearly 7% and adding almost $250 to monthly rent bills. Over the course of the pandemic, rents have risen 25%, or more than $400, since 2019.”

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