Top Ten Cities With Fastest-Growing Rent for One-Bedroom Apartment Rentals

When I first moved to Tri-Cities Washington in 2007, I rented a one-bedroom one-bath apartment in Kennewick for $500 per month. You'll be surprised to find out one small Washington State town's rentals have jumped as much as 39% in a year.

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What Washington State Town Had The Highest Apartment Rentals In 2023?

Apartment rentals have no doubt jumped like crazy and the nationwide average monthly rental rate is $1285. I once was able to rent a 3-bedroom, 2-bath place in Richland for $750 so these new rental rates are scary.

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So one small town in Washington has made the top 10 list for fastest-growing rent in the nation for a one-bedroom apartment.

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According to Dwellsy.com, Ellensburg Washington's average rental rate of $944 puts them third in the nation behind Grand Junction Colorado, and Oshkosh Wisconsin.

By Bobak Ha'Eri - Own work, CC BY 3.0, https://commons.wikimedia.org/w/index.php?curid=5034857
By Bobak Ha'Eri - Own work, CC BY 3.0, https://commons.wikimedia.org/w/index.php?curid=5034857
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As rental prices continue to escalate, it looks like even small towns are feeling the pinch.

Dwellsy.com's Jonas Bordo had this to say about the rising rental rates:

“I’m no Scrooge, so I’ll end on a positive note,” concludes Bordo. “Markets on these lists notwithstanding, nationwide rents across property types are flat to down. As we approach the end of the year, I expect that trend to continue since rents usually hit their lowest points in January or February. So if you do live in one of these 20 cities, take heart: A post-Christmas rent miracle might just be on the horizon.”

If we get lucky in 2024, hopefully, those rental rates will stay even and not escalate anymore.

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