Rent Gains Lose Momentum Throughout Washington State

Across the state of Washington, apartments saw record rent growth last year as the formation of new households drove demand up. By the second quarter of 2022, however, every region that CoStar tracks in the state saw slowing rent growth. Rent growth remains on par or above pre-pandemic levels in each of these areas, but this slowdown is a clear sign that a period of record-breaking, double-digit rent growth is behind us.